California Public Employees Retirement System Sells 2,984 Shares of Eagle Materials Inc. (NYSE:EXP)

California Public Employees Retirement System decreased its holdings in shares of Eagle Materials Inc. (NYSE:EXP) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,933 shares of the construction company’s stock after selling 2,984 shares during the period. California Public Employees Retirement System owned about 0.23% of Eagle Materials worth $15,274,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP acquired a new stake in shares of Eagle Materials in the first quarter valued at approximately $26,000. Canton Hathaway LLC acquired a new stake in shares of Eagle Materials in the second quarter valued at approximately $34,000. Global Retirement Partners LLC increased its holdings in shares of Eagle Materials by 681.5% in the first quarter. Global Retirement Partners LLC now owns 211 shares of the construction company’s stock valued at $32,000 after purchasing an additional 184 shares in the last quarter. Point72 Middle East FZE acquired a new stake in shares of Eagle Materials in the fourth quarter valued at approximately $31,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Eagle Materials in the second quarter valued at approximately $49,000. Institutional investors own 92.57% of the company’s stock.

Eagle Materials Trading Up 1.8 %

Shares of NYSE EXP opened at $175.89 on Monday. The company’s fifty day moving average is $165.70 and its 200-day moving average is $173.06. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of 12.89 and a beta of 1.34. Eagle Materials Inc. has a twelve month low of $128.54 and a twelve month high of $195.96. The company has a quick ratio of 1.38, a current ratio of 2.72 and a debt-to-equity ratio of 0.83.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Thursday, October 26th. The construction company reported $4.28 EPS for the quarter, beating the consensus estimate of $4.18 by $0.10. The business had revenue of $622.20 million for the quarter, compared to analysts’ expectations of $636.00 million. Eagle Materials had a net margin of 22.17% and a return on equity of 40.45%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.72 EPS. Equities research analysts predict that Eagle Materials Inc. will post 14.14 EPS for the current year.

Eagle Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.00 annualized dividend and a yield of 0.57%. Eagle Materials’s dividend payout ratio is currently 7.33%.

Insider Activity at Eagle Materials

In related news, EVP Matt Newby sold 5,613 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $190.00, for a total value of $1,066,470.00. Following the sale, the executive vice president now directly owns 21,819 shares of the company’s stock, valued at approximately $4,145,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Eagle Materials news, EVP Matt Newby sold 5,613 shares of Eagle Materials stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $190.00, for a total value of $1,066,470.00. Following the sale, the executive vice president now directly owns 21,819 shares in the company, valued at approximately $4,145,610. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Ross Stewart sold 2,000 shares of Eagle Materials stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $187.99, for a total transaction of $375,980.00. Following the completion of the sale, the director now owns 7,041 shares in the company, valued at $1,323,637.59. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on EXP shares. Raymond James lowered their price target on shares of Eagle Materials from $193.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, October 31st. Truist Financial lifted their target price on shares of Eagle Materials from $195.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, July 31st. JPMorgan Chase & Co. lifted their target price on shares of Eagle Materials from $190.00 to $200.00 and gave the stock an “underweight” rating in a report on Thursday, August 24th. Citigroup lifted their target price on shares of Eagle Materials from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. Finally, StockNews.com lowered shares of Eagle Materials from a “buy” rating to a “hold” rating in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Eagle Materials currently has a consensus rating of “Moderate Buy” and an average target price of $197.50.

About Eagle Materials

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures.