State of New Jersey Common Pension Fund D Decreases Stock Holdings in Eagle Materials Inc. (NYSE:EXP)

State of New Jersey Common Pension Fund D reduced its position in shares of Eagle Materials Inc. (NYSE:EXP) by 32.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and 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 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of EXP. Eagle Bay Advisors LLC lifted its position in shares of Eagle Materials by 79.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 95 shares of the construction company’s stock worth $26,000 after purchasing an additional 42 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in Eagle Materials during the 1st quarter worth $27,000. Tompkins Financial Corp acquired a new stake in Eagle Materials during the 1st quarter worth $27,000. Rise Advisors LLC acquired a new stake in Eagle Materials during the 1st quarter worth $27,000. Finally, Bessemer Group Inc. raised its stake in Eagle Materials by 132.7% during the 1st quarter. Bessemer Group Inc. now owns 114 shares of the construction company’s stock worth $31,000 after acquiring an additional 65 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Dale Craig Kesler sold 5,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 60,488 shares of the company’s stock, valued at $16,135,778.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Eric Cribbs sold 1,851 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $277.06, for a total transaction of $512,838.06. Following the sale, the insider now owns 13,937 shares of the company’s stock, valued at $3,861,385.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Dale Craig Kesler sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $266.76, for a total transaction of $1,333,800.00. Following the sale, the chief financial officer now directly owns 60,488 shares in the company, valued at approximately $16,135,778.88. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

EXP has been the topic of several research analyst reports. Loop Capital cut their price target on shares of Eagle Materials from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Stephens lifted their price target on shares of Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Citigroup lifted their price target on shares of Eagle Materials from $252.00 to $311.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Jefferies Financial Group lifted their price target on shares of Eagle Materials from $270.00 to $283.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Stifel Nicolaus dropped their price objective on shares of Eagle Materials from $300.00 to $286.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eagle Materials currently has an average rating of “Moderate Buy” and an average target price of $289.78.

Eagle Materials Stock Up 1.1 %

Shares of NYSE:EXP opened at $283.79 on Thursday. The company has a market cap of $9.61 billion, a price-to-earnings ratio of 20.92 and a beta of 1.32. The firm’s 50-day simple moving average is $247.94 and its 200-day simple moving average is $246.35. The company has a quick ratio of 1.17, a current ratio of 2.45 and a debt-to-equity ratio of 0.81. 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 issued its earnings results on Tuesday, July 30th. The construction company reported $3.94 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.37. The business had revenue of $608.69 million for the quarter, compared to the consensus estimate of $622.06 million. Eagle Materials had a net margin of 21.65% and a return on equity of 37.10%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.55 earnings per share. As a group, equities research analysts predict that Eagle Materials Inc. will post 15.9 earnings per share for the current year.

Eagle Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Tuesday, September 17th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend is Tuesday, September 17th. Eagle Materials’s payout ratio is 7.34%.

Eagle Materials Company Profile

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.