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

Key Points

• California State Teachers Retirement System increased its Eagle Materials stake by 23.7% in the first quarter, bringing its holdings to 37,928 shares valued at approximately $7.2 million. Institutional investors collectively own 96.07% of the company.
• Eagle Materials reported quarterly revenue of $650.97 million, exceeding estimates, but earnings per share of $3.29 fell short of the $3.37 consensus. Revenue increased 2.6% year over year, while analysts project $12.66 in full-year EPS.
• The company declared a quarterly dividend of $0.25 per share, equivalent to a 0.5% annual yield. Analysts maintain a consensus “Hold” rating with an average price target of $223.44, compared with the stock’s reported price of $218.26.

California State Teachers Retirement System raised its holdings in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 23.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 37,928 shares of the construction company's stock after purchasing an additional 7,261 shares during the period. California State Teachers Retirement System owned 0.12% of Eagle Materials worth $7,185,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EXP. Quantinno Capital Management LP boosted its stake in Eagle Materials by 7.0% in the 1st quarter. Quantinno Capital Management LP now owns 10,215 shares of the construction company's stock worth $1,935,000 after purchasing an additional 665 shares in the last quarter. Entropy Technologies LP raised its holdings in shares of Eagle Materials by 7.6% during the first quarter. Entropy Technologies LP now owns 11,039 shares of the construction company's stock valued at $2,091,000 after acquiring an additional 782 shares during the last quarter. Morningstar Investment Management LLC boosted its position in Eagle Materials by 162.8% during the first quarter. Morningstar Investment Management LLC now owns 4,796 shares of the construction company's stock worth $909,000 after acquiring an additional 2,971 shares during the last quarter. Aristides Capital LLC boosted its stake in Eagle Materials by 13.6% during the first quarter. Aristides Capital LLC now owns 6,614 shares of the construction company's stock worth $1,253,000 after buying an additional 793 shares during the last quarter. Finally, Modern Wealth Management LLC acquired a new position in Eagle Materials in the 1st quarter valued at about $246,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Stock Up 1.1%

Shares of NYSE EXP opened at $218.26 on Thursday. The stock's 50-day simple moving average is $215.73 and its 200-day simple moving average is $210.20. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of 17.25 and a beta of 1.38. 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 quick ratio of 1.91 and a current ratio of 3.23.

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 analysts' consensus estimates of $3.37 by ($0.08). The company had revenue of $650.97 million during the quarter, compared to analyst estimates of $620.35 million. Eagle Materials had a net margin of 17.32% and a return on equity of 26.87%. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.76 EPS. As a group, equities analysts anticipate that Eagle Materials Inc will post 12.66 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Investors 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 yield of 0.5%. The ex-dividend date of this dividend is Monday, September 14th. Eagle Materials's dividend payout ratio is 7.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wells Fargo & Company decreased their price target on Eagle Materials from $240.00 to $231.00 and set an "overweight" rating on the stock in a research note on Thursday, July 30th. Wall Street Zen raised Eagle Materials from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Stephens increased their price target on Eagle Materials from $225.00 to $230.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Weiss Ratings restated a "hold (c)" rating on shares of Eagle Materials in a research report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. raised shares of Eagle Materials from an "underweight" rating to a "neutral" rating and set a $225.00 price objective on the stock in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $223.44.

Eagle Materials Company Profile

Eagle Materials Inc NYSE: EXP is a Dallas, Texas–based manufacturer of building materials serving construction and heavy industry markets across the United States. The company's primary products include portland and masonry cements, gypsum wallboard, lightweight aggregate, paperboard packaging, and roofing granules. These product lines support a wide range of end uses—from residential and commercial buildings to infrastructure projects and industrial applications.

Since its spin-off from a major homebuilding company in 2004, Eagle Materials has grown through targeted facility expansions and strategic acquisitions.

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