California Public Employees Retirement System Lowers Stake in Eagle Materials Inc. (NYSE:EXP)

California Public Employees Retirement System cut its stake in Eagle Materials Inc. (NYSE:EXP) by 4.2% during the fourth quarter, HoldingsChannel reports. The fund owned 77,268 shares of the construction company’s stock after selling 3,352 shares during the quarter. California Public Employees Retirement System’s holdings in Eagle Materials were worth $15,673,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC grew its stake in Eagle Materials by 2.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,793 shares of the construction company’s stock valued at $632,000 after purchasing an additional 74 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Eagle Materials by 0.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 12,674 shares of the construction company’s stock valued at $2,110,000 after acquiring an additional 82 shares during the last quarter. Inspire Investing LLC boosted its stake in Eagle Materials by 8.2% in the third quarter. Inspire Investing LLC now owns 1,830 shares of the construction company’s stock valued at $305,000 after acquiring an additional 138 shares in the last quarter. Perigon Wealth Management LLC increased its position in shares of Eagle Materials by 3.0% during the third quarter. Perigon Wealth Management LLC now owns 4,775 shares of the construction company’s stock worth $795,000 after purchasing an additional 139 shares in the last quarter. Finally, Private Trust Co. NA lifted its holdings in shares of Eagle Materials by 277.4% during the 3rd quarter. Private Trust Co. NA now owns 200 shares of the construction company’s stock valued at $33,000 after purchasing an additional 147 shares during the last quarter. 96.07% of the stock is owned by institutional investors.

Eagle Materials Trading Up 0.6 %

Shares of NYSE:EXP opened at $258.15 on Tuesday. The company has a market capitalization of $8.89 billion, a PE ratio of 18.22 and a beta of 1.34. Eagle Materials Inc. has a 12-month low of $145.03 and a 12-month high of $272.72. The business has a 50 day moving average of $255.96 and a two-hundred day moving average of $215.82. The company has a current ratio of 2.61, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

Eagle Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Thursday, March 14th. Eagle Materials’s dividend payout ratio (DPR) is presently 7.06%.

Insider Activity at Eagle Materials

In other news, SVP Tony Thompson sold 638 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $235.07, for a total transaction of $149,974.66. Following the sale, the senior vice president now directly owns 14,393 shares of the company’s stock, valued at approximately $3,383,362.51. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Tony Thompson sold 638 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $235.07, for a total transaction of $149,974.66. Following the transaction, the senior vice president now owns 14,393 shares in the company, valued at approximately $3,383,362.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David B. Powers sold 3,347 shares of Eagle Materials stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $240.52, for a total transaction of $805,020.44. Following the completion of the sale, the director now directly owns 655 shares in the company, valued at approximately $157,540.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,925 shares of company stock worth $1,693,376. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Raymond James upped their target price on Eagle Materials from $170.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. boosted their target price on shares of Eagle Materials from $200.00 to $265.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Stephens raised their price target on shares of Eagle Materials from $250.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Citigroup upped their target price on Eagle Materials from $244.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Truist Financial boosted their price target on Eagle Materials from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $263.50.

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; 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.