New York State Joint Retirement Fund Reduces Position in Eagle Materials Inc. (NYSE:EXP)

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The New York State Common Retirement Fund reduced its holdings in Eagle Materials Inc. (NYSE: EXPGet a rating) by 1.9% in the first quarter, according to its latest filing with the SEC. The institutional investor held 42,948 shares of the construction company after selling 833 shares during the period. The New York State Common Retirement Fund held 0.11% of Eagle Materials worth $5,513,000 when it last filed with the SEC.

A number of other institutional investors and hedge funds have also recently changed their positions in the company. CWM LLC purchased a new stake in Eagle Materials during the fourth quarter valued at approximately $34,000. Prospera Financial Services Inc acquired a new stake in Eagle Materials during the first quarter, valued at approximately $42,000. Covestor Ltd acquired a new stake in Eagle Materials during the fourth quarter valued at approximately $97,000. Odey Asset Management Group Ltd acquired a new stake in Eagle Materials during the fourth quarter, valued at approximately $117,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Eagle Materials during the first quarter, valued at approximately $142,000. Hedge funds and other institutional investors own 96.87% of the company’s shares.

Insider Trading at Eagle Materials

In other news, Director Ed H. Bowman, Jr. sold 1,828 shares of the company in a transaction that took place on Friday, June 17. The stock was sold at an average price of $110.15, for a total value of $201,354.20. Following the sale, the director now directly owns 10,485 shares of the company, valued at approximately $1,154,922.75. The sale was disclosed in a legal filing with the SEC, accessible via the SEC website. In other news, Director Ed H. Bowman, Jr. sold 1,828 shares of the company in a trade that took place on Friday, June 17. The stock was sold at an average price of $110.15, for a total value of $201,354.20. Following the sale, the director now directly owns 10,485 shares of the company, valued at approximately $1,154,922.75. The sale was disclosed in a legal filing with the SEC, accessible via the SEC website. Also, VPE James H. Graass sold 2,856 shares of the company in a trade that took place on Wednesday, June 1. The stock was sold at an average price of $131.02, for a total value of $374,193.12. Following the completion of the sale, the executive vice president now directly owns 14,294 shares of the company, valued at $1,872,799.88. 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 currently held by insiders.

Analyst upgrades and downgrades

EXP has been the subject of several analyst reports. JPMorgan Chase & Co. downgraded Eagle Materials from an “overweight” rating to a “neutral” rating and lowered its price target for the stock from $165.00 to $130.00 in a Wednesday, July 20 report . DA Davidson cut its price target on Eagle Materials from $160.00 to $145.00 and set a “neutral” rating on the stock in a Friday, May 20 report. StockNews.com upgraded Eagle Materials from a “hold” rating to a “buy” rating in a Friday, July 29 report. Citigroup raised its price target on Eagle Materials to $146.00 in a report on Tuesday. Finally, Truist Financial cut its price target on Eagle Materials from $172.00 to $155.00 and placed a “buy” rating on the stock in a Monday, May 23 report. Five equity research analysts gave the stock a hold rating and eight gave the company a buy rating. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $159.09.

Eagle Materials Stock Performance

Eagle Materials stock opened at $130.81 on Thursday. The stock’s 50-day simple moving average is $119.31 and its two-hundred-day simple moving average is $127.19. The company has a debt ratio of 1.00, a quick ratio of 1.37 and a current ratio of 2.39. The stock has a market capitalization of $4.93 billion, a price-earnings ratio of 13.57 and a beta of 1.29. Eagle Materials Inc. has a fifty-two week low of $105.34 and a fifty-two week high of $169.15.

Eagle materials (NYSE: EXPGet a rating) last released its quarterly earnings data on Thursday, May 19. The construction company reported earnings per share of $1.90 for the quarter, beating the consensus estimate of $1.74 by $0.16. The company posted revenue of $413.10 million for the quarter, compared to $400.68 million expected by analysts. Eagle Materials had a return on equity of 33.25% and a net margin of 19.72%. The company’s revenue increased 20.3% year over year. During the same period a year earlier, the company posted EPS of $1.56. As a group, analysts expect Eagle Materials Inc. to post earnings per share of 11.5 for the current fiscal year.

Eagle Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 14. Shareholders of record on Friday, September 16 will receive a dividend of $0.25. The ex-dividend date is Thursday, September 15. This represents a dividend of $1.00 on an annualized basis and a dividend yield of 0.76%. Eagle Materials’ dividend payout ratio is currently 10.37%.

About Eagle Materials

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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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