California Public Employees Retirement System reduced its position in shares of Eagle Materials Inc. (NYSE: EXP – Get a rating) by 4.8% in the 1st quarter, according to its most recent communication to the Securities & Exchange Commission. The company held 89,718 shares of the construction company after selling 4,475 shares during the quarter. California Public Employees Retirement System held 0.23% of Eagle Materials worth $11,516,000 when it last filed with the Securities & Exchange Commission.
Other institutional investors have also recently changed their positions in the company. CWM LLC purchased a new stake in Eagle Materials in the fourth quarter worth approximately $34,000. Prospera Financial Services Inc bought a new position in Eagle Materials during Q1 worth $42,000. Covestor Ltd bought a new position in Eagle Materials during Q4 worth $97,000. Odey Asset Management Group Ltd bought a new position in Eagle Materials in Q4 worth $117,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Eagle Materials in the first quarter worth $142,000. Institutional investors hold 96.87% of the company’s shares.
Insider Buying and Selling at Eagle Materials
In other news, EVP James H. Graass sold 9,092 shares of the company in a transaction dated Monday, May 23. The shares were sold at an average price of $125.02, for a total transaction of $1,136,681.84. Following the transaction, the executive vice president now owns 20,090 shares of the company, valued at $2,511,651.80. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. In other news, Executive Vice Chairman James H. Graass sold 4,000 shares of the company in a trade dated Friday, May 20. The shares were sold at an average price of $125.50, for a total transaction of $502,000.00. Following the transaction, the executive vice president now owns 29,182 shares of the company, valued at $3,662,341. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Additionally, Executive Vice Chairman James H. Graass sold 9,092 shares of the company in a transaction dated Monday, May 23. The shares were sold at an average price of $125.02, for a total transaction of $1,136,681.84. Following the transaction, the executive vice president now owns 20,090 shares of the company, valued at approximately $2,511,651.80. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 17,776 shares of the company valued at $2,214,229. 1.60% of the shares are currently held by insiders.
Eagle Materials stock up 0.1%
NYSE: EXP opened at $127.83 on Friday. The company has a market capitalization of $4.82 billion, a PE ratio of 13.26 and a beta of 1.29. The company has a 50-day moving average of $119.48 and a 200-day moving average of $127.59. Eagle Materials Inc. has a 1-year low of $105.34 and a 1-year high of $169.15. The company has a debt ratio of 1.00, a current ratio of 2.39 and a quick ratio of 1.37.
Eagle materials (NYSE: EXP – Get a rating) last released its quarterly results on Thursday, May 19. The construction company reported EPS of $1.90 for the quarter, beating the consensus estimate of $1.74 by $0.16. The company posted revenue of $413.10 million in the quarter, compared to 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 20.3% year over year. In the same period a year earlier, the company posted earnings per share of $1.56. As a group, research analysts expect Eagle Materials Inc. to post EPS of 11.5 for the current fiscal year.
Eagle Materials Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Thursday, June 16 received a dividend of $0.25 per share. This represents an annualized dividend of $1.00 and a dividend yield of 0.78%. The ex-dividend date was Wednesday, June 15. Eagle Materials’ payout ratio is 10.37%.
Analysts set new price targets
A number of research companies have recently commented on EXP. Truist Financial cut its price target on Eagle Materials shares from $172.00 to $155.00 and set a “buy” rating on the stock in a Monday, May 23 report. JPMorgan Chase & Co. downgraded shares of Eagle Materials from an “overweight” rating to a “neutral” rating and cut its target price for the stock from $165.00 to $130.00 in a report of research from Wednesday, July 20. StockNews.com upgraded Eagle Materials from a “hold” rating to a “buy” rating in a Friday, July 29 report. Stephens cut its price target on Eagle Materials to $170.00 in a Tuesday, July 26 report. Finally, 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 Friday, May 20 research report. Five investment analysts gave the stock a hold rating and eight gave the company a buy rating. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $161.73.
About Eagle Materials
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.
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