Public Employees Retirement Association of Colorado Decreases Position in Eagle Materials Inc (EXP)
Public Employees Retirement Association of Colorado decreased its stake in shares of Eagle Materials Inc (NYSE:EXP) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,818 shares of the construction company’s stock after selling 7 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Eagle Materials were worth $1,000,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC purchased a new position in shares of Eagle Materials during the second quarter valued at approximately $352,000. Meritage Portfolio Management purchased a new position in shares of Eagle Materials during the second quarter valued at approximately $4,894,000. ING Groep NV purchased a new position in shares of Eagle Materials during the second quarter valued at approximately $545,000. Russell Investments Group Ltd. raised its position in shares of Eagle Materials by 1.7% in the second quarter. Russell Investments Group Ltd. now owns 13,467 shares of the construction company’s stock valued at $1,245,000 after buying an additional 219 shares in the last quarter. Finally, Terra Nova Asset Management LLC raised its position in shares of Eagle Materials by 11.0% in the second quarter. Terra Nova Asset Management LLC now owns 9,483 shares of the construction company’s stock valued at $876,000 after buying an additional 936 shares in the last quarter. Hedge funds and other institutional investors own 93.07% of the company’s stock.
Shares of Eagle Materials Inc (NYSE EXP) opened at 90.18 on Wednesday. The company’s 50-day moving average price is $92.21 and its 200-day moving average price is $97.15. Eagle Materials Inc has a 12 month low of $73.27 and a 12 month high of $110.64. The company has a market cap of $4.37 billion, a P/E ratio of 20.97 and a beta of 1.23.
Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Thursday, July 27th. The construction company reported $1.17 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.17. The firm had revenue of $366.10 million for the quarter, compared to the consensus estimate of $369.68 million. Eagle Materials had a return on equity of 18.29% and a net margin of 16.23%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 EPS. Equities analysts forecast that Eagle Materials Inc will post $5.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 7th. Investors of record on Friday, October 6th will be issued a $0.10 dividend. The ex-dividend date is Thursday, October 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.44%. Eagle Materials’s dividend payout ratio is presently 9.30%.
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Several brokerages have recently commented on EXP. BidaskClub upgraded Eagle Materials from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 5th. Zacks Investment Research lowered Eagle Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Standpoint Research upgraded Eagle Materials from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Citigroup Inc. upgraded Eagle Materials from a “neutral” rating to a “buy” rating and cut their price target for the company from $115.00 to $110.00 in a research note on Monday, July 31st. Finally, Stephens upgraded Eagle Materials from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 30th. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $104.67.
In other Eagle Materials news, CEO David B. Powers sold 11,317 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $93.57, for a total transaction of $1,058,931.69. Following the sale, the chief executive officer now owns 106,580 shares in the company, valued at approximately $9,972,690.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gerald J. Essl sold 2,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $93.40, for a total value of $186,800.00. Following the sale, the insider now owns 39,859 shares in the company, valued at approximately $3,722,830.60. The disclosure for this sale can be found here. Insiders sold a total of 23,317 shares of company stock worth $2,255,732 in the last quarter. Company insiders own 4.10% of the company’s stock.
About Eagle Materials
Eagle Materials Inc is a supplier of construction products, building materials and materials used for oil and natural gas extraction. The Company operates through five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants. The Company’s construction products are used in residential, industrial, commercial and infrastructure construction, and include cement, slag, concrete and aggregates.
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