Retirement Systems of Alabama Cuts Stock Position in Eagle Materials Inc. (NYSE:EXP)

Retirement Systems of Alabama cut its holdings in shares of Eagle Materials Inc. (NYSE:EXP) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,239 shares of the construction company’s stock after selling 1,680 shares during the quarter. Retirement Systems of Alabama’s holdings in Eagle Materials were worth $29,984,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. increased its holdings in shares of Eagle Materials by 6.9% in the third quarter. Franklin Resources Inc. now owns 162,863 shares of the construction company’s stock worth $48,435,000 after buying an additional 10,459 shares during the period. Tidal Investments LLC raised its holdings in Eagle Materials by 12.7% during the 3rd quarter. Tidal Investments LLC now owns 3,123 shares of the construction company’s stock valued at $898,000 after buying an additional 353 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of Eagle Materials in the third quarter valued at about $34,846,000. Sanctuary Advisors LLC raised its stake in shares of Eagle Materials by 20.0% during the third quarter. Sanctuary Advisors LLC now owns 2,883 shares of the construction company’s stock valued at $906,000 after acquiring an additional 480 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in Eagle Materials by 1.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,981 shares of the construction company’s stock worth $858,000 after buying an additional 41 shares during the period. 96.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EXP. Truist Financial boosted their price objective on shares of Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, November 4th. The Goldman Sachs Group upped their price target on Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Jefferies Financial Group upped their target price on shares of Eagle Materials from $309.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Loop Capital lowered shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a research note on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $307.11.

Eagle Materials Stock Performance

Shares of EXP stock opened at $273.32 on Friday. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 19.30 and a beta of 1.33. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 2.34. Eagle Materials Inc. has a one year low of $193.95 and a one year high of $321.93. The company’s 50-day moving average is $297.21 and its 200 day moving average is $262.96.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.44). The firm had revenue of $623.62 million for the quarter, compared to the consensus estimate of $651.46 million. Eagle Materials had a net margin of 21.32% and a return on equity of 35.79%. Eagle Materials’s revenue was up .2% on a year-over-year basis. During the same period last year, the business earned $4.28 EPS. Sell-side analysts expect that Eagle Materials Inc. will post 15.24 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.37%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.06%.

Insider Activity

In other news, SVP Tony Thompson sold 1,401 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $314.00, for a total value of $439,914.00. Following the transaction, the senior vice president now owns 13,212 shares of the company’s stock, valued at $4,148,568. This trade represents a 9.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George John Damiris sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $277.62, for a total transaction of $277,620.00. Following the sale, the director now owns 7,943 shares in the company, valued at approximately $2,205,135.66. The trade was a 11.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,866 shares of company stock valued at $5,482,931 in the last 90 days. 1.60% of the stock is currently owned by insiders.

Eagle Materials 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.