New York State Teachers Retirement System Sells 3,200 Shares of Eagle Materials Inc (NYSE:EXP)

New York State Teachers Retirement System reduced its holdings in Eagle Materials Inc (NYSE:EXP - Free Report) by 7.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,961 shares of the construction company's stock after selling 3,200 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of Eagle Materials worth $8,647,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Hi Line Capital Management LLC bought a new stake in shares of Eagle Materials in the 1st quarter worth approximately $4,770,000. GAMMA Investing LLC lifted its stake in shares of Eagle Materials by 21.2% in the 1st quarter. GAMMA Investing LLC now owns 819 shares of the construction company's stock valued at $182,000 after purchasing an additional 143 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Eagle Materials by 8.7% in the 4th quarter. Two Sigma Advisers LP now owns 22,400 shares of the construction company's stock valued at $5,527,000 after purchasing an additional 1,800 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Eagle Materials by 14.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 16,443 shares of the construction company's stock valued at $3,649,000 after purchasing an additional 2,045 shares during the period. Finally, Ausbil Investment Management Ltd lifted its stake in shares of Eagle Materials by 469.7% in the 1st quarter. Ausbil Investment Management Ltd now owns 2,951 shares of the construction company's stock valued at $655,000 after purchasing an additional 2,433 shares during the period. 96.07% of the stock is currently owned by institutional investors.

Eagle Materials Stock Up 1.8%

NYSE:EXP traded up $3.72 during trading hours on Tuesday, reaching $215.61. 165,585 shares of the company traded hands, compared to its average volume of 351,898. The business's 50-day moving average price is $213.21 and its two-hundred day moving average price is $226.93. The stock has a market capitalization of $7.04 billion, a P/E ratio of 15.67 and a beta of 1.26. Eagle Materials Inc has a 1 year low of $191.91 and a 1 year high of $321.93. The company has a current ratio of 2.73, a quick ratio of 1.03 and a debt-to-equity ratio of 0.84.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The construction company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.26). Eagle Materials had a return on equity of 32.71% and a net margin of 20.50%. The business had revenue of $470.18 million during the quarter, compared to analysts' expectations of $483.14 million. During the same quarter in the prior year, the firm earned $2.24 EPS. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. Analysts predict that Eagle Materials Inc will post 14.39 earnings per share for the current year.

Eagle Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Monday, June 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, June 16th. Eagle Materials's dividend payout ratio is currently 7.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EXP shares. Citigroup lowered their target price on Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. DA Davidson lowered their target price on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Loop Capital lowered their target price on Eagle Materials from $245.00 to $237.00 and set a "hold" rating for the company in a research note on Wednesday, May 21st. Wall Street Zen cut Eagle Materials from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Stifel Nicolaus set a $241.00 price objective on Eagle Materials and gave the company a "hold" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $254.44.

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, including Portland limestone 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, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.