Eagle Materials Inc (NYSE:EXP) Stock Position Decreased by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 7.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,961 shares of the construction company's stock after selling 3,200 shares during the period. New York State Teachers Retirement System owned 0.12% of Eagle Materials worth $8,647,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Eagle Materials during the 4th quarter worth $93,672,000. GAMMA Investing LLC boosted its position in Eagle Materials by 26,787.7% during the 1st quarter. GAMMA Investing LLC now owns 181,761 shares of the construction company's stock worth $40,338,000 after purchasing an additional 181,085 shares during the period. Raymond James Financial Inc. purchased a new stake in Eagle Materials during the 4th quarter worth $38,115,000. Baupost Group LLC MA boosted its position in Eagle Materials by 27.6% during the 4th quarter. Baupost Group LLC MA now owns 638,223 shares of the construction company's stock worth $157,488,000 after purchasing an additional 137,950 shares during the period. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in Eagle Materials during the 4th quarter worth $28,778,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on EXP shares. The Goldman Sachs Group set a $242.00 price target on shares of Eagle Materials and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Wall Street Zen cut shares of Eagle Materials from a "hold" rating to a "sell" rating in a research report on Sunday. Loop Capital cut their price objective on shares of Eagle Materials from $245.00 to $237.00 and set a "hold" rating on the stock in a report on Wednesday, May 21st. DA Davidson cut their price objective on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Finally, Stifel Nicolaus set a $241.00 price objective on shares of Eagle Materials and gave the stock a "hold" rating in a report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Eagle Materials presently has an average rating of "Hold" and an average target price of $254.44.

Eagle Materials Stock Up 0.3%

Shares of Eagle Materials stock traded up $0.54 during trading on Friday, reaching $214.28. The company had a trading volume of 346,994 shares, compared to its average volume of 352,399. The company has a market cap of $6.99 billion, a price-to-earnings ratio of 15.57 and a beta of 1.26. The firm's fifty day moving average is $213.40 and its 200-day moving average is $227.18. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.03 and a current ratio of 2.73. Eagle Materials Inc has a fifty-two week low of $191.91 and a fifty-two week high of $321.93.

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

Eagle Materials Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. Eagle Materials's dividend payout ratio (DPR) is presently 7.27%.

About Eagle Materials

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.