California State Teachers Retirement System Trims Position in Eagle Materials Inc $EXP

California State Teachers Retirement System reduced its position in Eagle Materials Inc (NYSE:EXP - Free Report) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,320 shares of the construction company's stock after selling 1,608 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Eagle Materials worth $8,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Clearstead Advisors LLC boosted its holdings in Eagle Materials by 266.7% in the 4th quarter. Clearstead Advisors LLC now owns 132 shares of the construction company's stock worth $27,000 after buying an additional 96 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Eagle Materials by 389.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the construction company's stock worth $28,000 after purchasing an additional 109 shares during the period. Bruce G. Allen Investments LLC raised its stake in Eagle Materials by 19,300.0% during the fourth quarter. Bruce G. Allen Investments LLC now owns 194 shares of the construction company's stock valued at $40,000 after buying an additional 193 shares in the last quarter. Leonteq Securities AG bought a new position in Eagle Materials in the 1st quarter valued at about $42,000. Finally, Global Retirement Partners LLC boosted its position in shares of Eagle Materials by 1,242.9% in the fourth quarter. Global Retirement Partners LLC now owns 282 shares of the construction company's stock worth $58,000 after buying an additional 261 shares during the period. Institutional investors own 96.07% of the company's stock.

Insider Buying and Selling at Eagle Materials

In related news, SVP Tony Thompson sold 3,074 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $203.96, for a total value of $626,973.04. Following the completion of the transaction, the senior vice president directly owned 10,142 shares of the company's stock, valued at $2,068,562.32. This represents a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.70% of the company's stock.

Eagle Materials Stock Performance

Shares of Eagle Materials stock traded up $1.06 on Tuesday, reaching $183.73. 275,116 shares of the company were exchanged, compared to its average volume of 451,968. The company's 50-day moving average is $204.00 and its two-hundred day moving average is $205.04. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 14.53 and a beta of 1.36. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.91 and a current ratio of 3.23. Eagle Materials Inc has a 1-year low of $171.99 and a 1-year high of $245.53.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.08). Eagle Materials had a return on equity of 26.87% and a net margin of 17.32%.The company had revenue of $650.97 million during the quarter, compared to analyst estimates of $620.35 million. During the same quarter in the previous year, the business posted $3.76 EPS. The company's revenue was up 2.6% on a year-over-year basis. As a group, research analysts expect that Eagle Materials Inc will post 12.66 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Monday, September 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 14th. Eagle Materials's dividend payout ratio (DPR) is presently 7.91%.

Wall Street Analysts Forecast Growth

EXP has been the topic of several research reports. Zacks Research lowered Eagle Materials from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Jefferies Financial Group restated a "hold" rating and set a $200.00 price target on shares of Eagle Materials in a research report on Wednesday, May 20th. JPMorgan Chase & Co. upgraded Eagle Materials from an "underweight" rating to a "neutral" rating and set a $225.00 price target on the stock in a report on Tuesday, June 2nd. Royal Bank Of Canada lifted their price target on shares of Eagle Materials from $208.00 to $219.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 20th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Eagle Materials in a research report on Friday. Nine research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $218.33.

About Eagle Materials

Eagle Materials Inc NYSE: EXP is a U.S.-based manufacturer of essential building materials used in residential, commercial and infrastructure construction. The company produces and distributes cement, ready-mix concrete, crushed stone and sand, as well as gypsum wallboard.

Its cement business supplies materials for concrete production and construction projects, while its concrete and aggregates operations provide ready-mix concrete and construction aggregates. Through its American Gypsum operations, Eagle Materials manufactures gypsum wallboard used in interior walls and ceilings.

Headquartered in Dallas, Texas, Eagle Materials serves regional construction markets primarily across the United States, with operations concentrated in states including Texas, Colorado, Nevada and Oklahoma.

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