California State Teachers Retirement System Acquires 8,134,072 Shares of Eagle Materials Inc $EXP

California State Teachers Retirement System grew its position in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 21,446.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,172,000 shares of the construction company's stock after purchasing an additional 8,134,072 shares during the period. California State Teachers Retirement System owned about 26.64% of Eagle Materials worth $1,838,700,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Clearstead Advisors LLC lifted its stake in Eagle Materials by 266.7% in the fourth quarter. Clearstead Advisors LLC now owns 132 shares of the construction company's stock worth $27,000 after acquiring an additional 96 shares during the period. IFP Advisors Inc grew its position in Eagle Materials by 389.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the construction company's stock valued at $28,000 after purchasing an additional 109 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Eagle Materials in the 4th quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC bought a new position in shares of Eagle Materials during the third quarter valued at $34,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Eagle Materials by 102.4% in the second quarter. EverSource Wealth Advisors LLC now owns 172 shares of the construction company's stock worth $35,000 after acquiring an additional 87 shares during the period. Institutional investors own 96.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EXP shares. Citigroup downgraded Eagle Materials from a "neutral" rating to a "cautious" rating in a research note on Wednesday. DA Davidson assumed coverage on shares of Eagle Materials in a research report on Monday, August 24th. They set a "neutral" rating and a $220.00 price objective on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Eagle Materials in a report on Tuesday, June 16th. Royal Bank Of Canada lifted their target price on Eagle Materials from $208.00 to $219.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 20th. Finally, Wells Fargo & Company restated an "equal weight" rating and set a $196.00 target price (down from $231.00) on shares of Eagle Materials in a research report on Wednesday. Nine investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $219.78.

Eagle Materials Trading Up 0.7%

EXP opened at $185.03 on Friday. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 14.63 and a beta of 1.36. The company's 50 day simple moving average is $204.69 and its two-hundred day simple moving average is $205.53. Eagle Materials Inc has a 1-year low of $171.99 and a 1-year high of $245.53. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.23 and a quick ratio of 1.91.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its earnings results 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 net margin of 17.32% and a return on equity of 26.87%. The company had revenue of $650.97 million during the quarter, compared to analysts' expectations of $620.35 million. During the same quarter in the previous year, the company earned $3.76 earnings per share. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. Analysts expect that Eagle Materials Inc will post 12.66 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

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

Insider Activity at Eagle Materials

In other news, SVP Tony Thompson sold 3,074 shares of Eagle Materials stock in a transaction on Monday, August 24th. The stock was sold at an average price of $203.96, for a total value of $626,973.04. Following the completion of the sale, the senior vice president directly owned 10,142 shares of the company's stock, valued at approximately $2,068,562.32. The trade was a 23.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Eagle Materials Company Profile

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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