California Public Employees Retirement System Lowers Stake in Eagle Materials Inc. (NYSE:EXP)

California Public Employees Retirement System reduced its stake in shares of Eagle Materials Inc. (NYSE:EXP) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 77,268 shares of the construction company’s stock after selling 3,352 shares during the period. California Public Employees Retirement System owned approximately 0.22% of Eagle Materials worth $15,673,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC bought a new position in shares of Eagle Materials during the 3rd quarter valued at about $25,000. BluePath Capital Management LLC purchased a new position in shares of Eagle Materials during the third quarter worth approximately $31,000. Private Trust Co. NA lifted its holdings in shares of Eagle Materials by 277.4% in the 3rd quarter. Private Trust Co. NA now owns 200 shares of the construction company’s stock worth $33,000 after acquiring an additional 147 shares during the last quarter. Planned Solutions Inc. purchased a new stake in shares of Eagle Materials in the 4th quarter valued at $35,000. Finally, Headlands Technologies LLC bought a new position in shares of Eagle Materials during the 3rd quarter valued at $53,000. Institutional investors own 96.07% of the company’s stock.

Analyst Upgrades and Downgrades

EXP has been the topic of a number of recent research reports. Raymond James raised their price objective on Eagle Materials from $170.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Citigroup raised their price target on Eagle Materials from $244.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. The Goldman Sachs Group boosted their price objective on Eagle Materials from $238.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Truist Financial lifted their target price on shares of Eagle Materials from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, StockNews.com cut shares of Eagle Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $263.50.

Insiders Place Their Bets

In other news, SVP Tony Thompson sold 638 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $235.07, for a total value of $149,974.66. Following the sale, the senior vice president now directly owns 14,393 shares of the company’s stock, valued at approximately $3,383,362.51. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Tony Thompson sold 638 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $235.07, for a total transaction of $149,974.66. Following the sale, the senior vice president now directly owns 14,393 shares of the company’s stock, valued at approximately $3,383,362.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matt Newby sold 2,940 shares of Eagle Materials stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $251.15, for a total transaction of $738,381.00. Following the completion of the transaction, the executive vice president now directly owns 21,819 shares of the company’s stock, valued at $5,479,841.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,925 shares of company stock worth $1,693,376. 1.70% of the stock is currently owned by company insiders.

Eagle Materials Stock Performance

Shares of Eagle Materials stock opened at $258.15 on Tuesday. Eagle Materials Inc. has a 12 month low of $145.03 and a 12 month high of $272.72. The firm has a market capitalization of $8.89 billion, a P/E ratio of 18.22 and a beta of 1.34. The company has a current ratio of 2.61, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of $255.96 and a two-hundred day simple moving average of $215.82.

Eagle Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.39%. The ex-dividend date was Thursday, March 14th. Eagle Materials’s payout ratio is currently 7.06%.

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.