Eagle Materials Inc. (NYSE:EXP) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its stake in shares of Eagle Materials Inc. (NYSE:EXP) by 32.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,860 shares of the construction company’s stock after selling 5,677 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Eagle Materials were worth $2,579,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. raised its position in shares of Eagle Materials by 13.0% during the 1st quarter. Advisors Asset Management Inc. now owns 35,894 shares of the construction company’s stock worth $9,754,000 after purchasing an additional 4,130 shares during the last quarter. TD Asset Management Inc raised its position in shares of Eagle Materials by 261.8% during the 4th quarter. TD Asset Management Inc now owns 871,970 shares of the construction company’s stock worth $176,870,000 after purchasing an additional 630,964 shares during the last quarter. M&G Plc acquired a new stake in Eagle Materials in the 1st quarter valued at about $9,628,000. Mad River Investors acquired a new stake in Eagle Materials in the 1st quarter valued at about $1,552,000. Finally, Los Angeles Capital Management LLC raised its holdings in Eagle Materials by 2.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 255,775 shares of the construction company’s stock valued at $69,507,000 after acquiring an additional 4,947 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Analyst Ratings Changes

EXP has been the subject of a number of recent research reports. Loop Capital cut their price objective on shares of Eagle Materials from $310.00 to $305.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Raymond James downgraded shares of Eagle Materials from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. Citigroup increased their price objective on shares of Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, Jefferies Financial Group increased their price objective on shares of Eagle Materials from $270.00 to $283.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $289.78.

Insider Buying and Selling

In other Eagle Materials news, insider Eric Cribbs sold 1,851 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $277.06, for a total value of $512,838.06. Following the completion of the transaction, the insider now owns 13,937 shares of the company’s stock, valued at approximately $3,861,385.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Eagle Materials news, insider Eric Cribbs sold 1,851 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $277.06, for a total value of $512,838.06. Following the completion of the transaction, the insider now owns 13,937 shares of the company’s stock, valued at approximately $3,861,385.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dale Craig Kesler sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $266.76, for a total transaction of $1,333,800.00. Following the completion of the transaction, the chief financial officer now directly owns 60,488 shares of the company’s stock, valued at approximately $16,135,778.88. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Eagle Materials Stock Performance

NYSE:EXP opened at $283.79 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.17 and a current ratio of 2.45. The stock has a market capitalization of $9.61 billion, a P/E ratio of 20.92 and a beta of 1.32. The company has a 50 day moving average price of $247.94 and a 200 day moving average price of $246.35. Eagle Materials Inc. has a fifty-two week low of $145.03 and a fifty-two week high of $292.21.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $3.94 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.37. The firm had revenue of $608.69 million during the quarter, compared to analysts’ expectations of $622.06 million. Eagle Materials had a net margin of 21.65% and a return on equity of 37.10%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $3.55 EPS. Equities research analysts forecast that Eagle Materials Inc. will post 15.9 EPS for the current year.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Tuesday, September 17th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.35%. Eagle Materials’s payout ratio is currently 7.34%.

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, including Portland limestone 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, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.