Arizona State Pension System Cuts Eagle Materials Inc. Stock Position (NYSE:EXP)

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Arizona State Retirement System reduced its stake in Eagle Materials Inc. (NYSE: EXPGet a rating) by 2.5% in the first quarter, according to its latest filing with the SEC. The institutional investor owned 10,445 shares of the construction company after selling 264 shares during the period. Arizona State Retirement System’s holdings in Eagle Materials were worth $1,341,000 when it last filed with the SEC.

Other institutional investors also bought and sold shares of the company. Signaturefd LLC bought a new stake in Eagle Materials in Q4 for $26,000. CWM LLC bought a new position in shares of Eagle Materials during the fourth quarter, valued at approximately $34,000. Covestor Ltd bought a new position in shares of Eagle Materials during the fourth quarter, valued at approximately $97,000. Odey Asset Management Group Ltd bought a new position in shares of Eagle Materials during the fourth quarter, valued at approximately $117,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Eagle Materials during the first quarter, valued at around $142,000. Hedge funds and other institutional investors own 96.87% of the company’s shares.

Changes to analyst ratings

EXP has been the subject of a number of research analyst reports. Truist Financial cut its price target on Eagle Materials from $172.00 to $155.00 and set a “buy” rating for the company in a Monday, May 23 research report. Stephens reduced his price target on Eagle Materials to $170.00 in a Tuesday, July 26 research report. DA Davidson reduced its price target on Eagle Materials from $160.00 to $145.00 and set a “neutral” rating for the company in a Friday, May 20 research report. Goldman Sachs Group cut its price target on Eagle Materials from $190.00 to $162.00 and set a “buy” rating for the company in a research report on Friday, May 20. To finish, StockNews.com moved Eagle Materials shares from a “hold” rating to a “buy” rating in a report on Friday. Five analysts gave the stock a hold rating and seven gave the stock a buy rating. According to MarketBeat, Eagle Materials currently has an average rating of “Moderate Buy” and an average target price of $159.00.

Insider Activity at Eagle Materials

In other Eagle Materials news, Director Ed H. Bowman, Jr. sold 1,828 shares of Eagle Materials in a trade on Friday, June 17. The shares were sold at an average price of $110.15, for a total value of $201,354.20. Following the transaction, the administrator now directly owns 10,485 shares of the company, valued at $1,154,922.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via the SEC website. In other Eagle Materials news, Executive Vice President James H. Graass sold 4,000 shares of Eagle Materials in a trade on Friday, May 20. The shares were sold at an average price of $125.50, for a total value of $502,000.00. Following the transaction, the executive vice president now directly owns 29,182 shares of the company, valued at $3,662,341. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via the SEC website. Additionally, director Ed H. Bowman, Jr. sold 1,828 shares of Eagle Materials in a trade on Friday, June 17. The stock was sold at an average price of $110.15, for a total transaction of $201,354.20. Following the sale, the director now owns 10,485 shares of the company, valued at $1,154,922.75. Disclosure of this sale can be found here. Insiders sold a total of 17,776 shares of the company valued at $2,214,229 in the past ninety days. 1.60% of the shares are held by insiders of the company.

Eagle Materials Stock Performance

Shares of NYSE: EXP opened at $125.95 on Tuesday. The company has a market capitalization of $4.80 billion, a PE ratio of 13.07 and a beta of 1.29. The company’s 50-day simple moving average is $119.70 and its 200-day simple moving average is $128.27. Eagle Materials Inc. has a one-year low of $105.34 and a one-year high of $169.15. The company has a debt ratio of 1.00, a quick ratio of 1.37 and a current ratio of 2.39.

Eagle materials (NYSE: EXPGet a rating) last released its results on Thursday, May 19. The construction company reported EPS of $1.90 for the quarter, beating analyst consensus estimates of $1.74 by $0.16. The company posted revenue of $413.10 million for the quarter, versus analyst estimates of $400.68 million. Eagle Materials had a net margin of 19.72% and a return on equity of 33.25%. The company’s quarterly revenue increased by 20.3% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $1.56. As a group, equity analysts predict Eagle Materials Inc. will post EPS of 11.36 for the current year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15. Investors of record on Thursday, June 16 received a dividend of $0.25 per share. This represents an annualized dividend of $1.00 and a yield of 0.79%. The ex-dividend date was Wednesday, June 15. Eagle Materials’ payout ratio is 10.37%.

Eagle Materials Company Profile

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Eagle Materials Inc, through its subsidiaries, produces and supplies heavy building materials and light building materials in the United States. It operates through the cement, concrete and aggregates, gypsum board and recycled paperboard segments. The company is engaged in the extraction of limestone for the manufacture, production, distribution and sale of Portland cement; crushing and sale of slag; and the extraction of gypsum for the manufacture and sale of plasterboard used for finishing interior walls and ceilings in residential, commercial and industrial structures.

See also

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Institutional ownership by quarter for Eagle Materials (NYSE:EXP)



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