Arizona State Retirement System Sells 264 Shares of Eagle Materials Inc. (NYSE:EXP)

Arizona State Retirement System lowered its position in shares of Eagle Materials Inc. (NYSE:EXPGet Rating) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,445 shares of the construction company’s stock after selling 264 shares during the period. Arizona State Retirement System’s holdings in Eagle Materials were worth $1,341,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fort Washington Investment Advisors Inc. OH lifted its stake in Eagle Materials by 40.2% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 107,638 shares of the construction company’s stock worth $13,816,000 after purchasing an additional 30,880 shares during the last quarter. National Asset Management Inc. increased its holdings in shares of Eagle Materials by 19.5% in the first quarter. National Asset Management Inc. now owns 2,742 shares of the construction company’s stock worth $354,000 after buying an additional 448 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Eagle Materials in the first quarter worth about $201,000. Whittier Trust Co. increased its holdings in shares of Eagle Materials by 6.3% in the first quarter. Whittier Trust Co. now owns 47,479 shares of the construction company’s stock worth $6,094,000 after buying an additional 2,794 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Eagle Materials by 17.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 22,304 shares of the construction company’s stock worth $2,863,000 after buying an additional 3,291 shares during the period. Institutional investors own 96.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. DA Davidson decreased their price objective on Eagle Materials from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, May 20th. JPMorgan Chase & Co. downgraded Eagle Materials from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $165.00 to $130.00 in a report on Wednesday, July 20th. Raymond James reduced their price target on Eagle Materials from $175.00 to $145.00 and set a “maintains” rating on the stock in a report on Tuesday, July 26th. StockNews.com upgraded Eagle Materials from a “hold” rating to a “buy” rating in a report on Friday. Finally, Truist Financial reduced their price target on Eagle Materials from $172.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, May 23rd. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Eagle Materials currently has an average rating of “Moderate Buy” and a consensus target price of $159.00.

Insider Transactions at Eagle Materials

In other news, Director Ed H. Bowman, Jr. sold 1,828 shares of the business’s stock in a transaction that occurred on Friday, June 17th. 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’s stock, valued at approximately $1,154,922.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP James H. Graass sold 2,856 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $131.02, for a total value of $374,193.12. Following the sale, the executive vice president now directly owns 14,294 shares of the company’s stock, valued at approximately $1,872,799.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ed H. Bowman, Jr. sold 1,828 shares of the company’s stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $110.15, for a total value of $201,354.20. Following the completion of the transaction, the director now directly owns 10,485 shares in the company, valued at $1,154,922.75. The disclosure for this sale can be found here. Insiders have sold a total of 17,776 shares of company stock valued at $2,214,229 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Eagle Materials Stock Down 0.4 %

EXP stock opened at $125.95 on Tuesday. Eagle Materials Inc. has a fifty-two week low of $105.34 and a fifty-two week high of $169.15. The business’s 50 day moving average price is $119.70 and its two-hundred day moving average price is $128.27. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.37 and a current ratio of 2.39. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 13.07 and a beta of 1.29.

Eagle Materials (NYSE:EXPGet Rating) last posted its earnings results on Thursday, May 19th. The construction company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.16. Eagle Materials had a return on equity of 33.25% and a net margin of 19.72%. The firm had revenue of $413.10 million for the quarter, compared to the consensus estimate of $400.68 million. During the same quarter in the prior year, the business earned $1.56 EPS. The business’s revenue for the quarter was up 20.3% on a year-over-year basis. As a group, analysts forecast that Eagle Materials Inc. will post 11.36 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 16th were given a $0.25 dividend. The ex-dividend date was Wednesday, June 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.79%. Eagle Materials’s dividend payout ratio is currently 10.37%.

About Eagle Materials

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Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials and light building materials in the United States. It operates through Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard segments. 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.

See Also

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Institutional Ownership by Quarter for Eagle Materials (NYSE:EXP)

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