Eagle Materials Inc (NYSE:EXP) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its stake in Eagle Materials Inc (NYSE:EXP - Free Report) by 69.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,186 shares of the construction company's stock after selling 25,553 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Eagle Materials were worth $2,482,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bridges Investment Management Inc. increased its holdings in shares of Eagle Materials by 111.4% in the 1st quarter. Bridges Investment Management Inc. now owns 6,918 shares of the construction company's stock worth $1,535,000 after purchasing an additional 3,645 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Eagle Materials by 234.6% in the first quarter. Teacher Retirement System of Texas now owns 4,905 shares of the construction company's stock valued at $1,089,000 after purchasing an additional 3,439 shares in the last quarter. Hi Line Capital Management LLC purchased a new position in Eagle Materials in the first quarter worth about $4,770,000. GAMMA Investing LLC raised its position in Eagle Materials by 21.2% in the 1st quarter. GAMMA Investing LLC now owns 819 shares of the construction company's stock worth $182,000 after purchasing an additional 143 shares during the period. Finally, Private Trust Co. NA increased its stake in Eagle Materials by 39.0% in the 1st quarter. Private Trust Co. NA now owns 285 shares of the construction company's stock worth $63,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 96.07% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Truist Financial cut their price objective on shares of Eagle Materials from $330.00 to $280.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Loop Capital reduced their price target on Eagle Materials from $245.00 to $237.00 and set a "hold" rating for the company in a report on Wednesday, May 21st. Wall Street Zen cut Eagle Materials from a "hold" rating to a "sell" rating in a report on Sunday, July 6th. The Goldman Sachs Group set a $242.00 target price on Eagle Materials and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, Stifel Nicolaus set a $241.00 target price on Eagle Materials and gave the stock a "hold" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $254.44.

Eagle Materials Trading Down 0.6%

NYSE EXP traded down $1.27 during trading on Thursday, hitting $220.20. The stock had a trading volume of 293,073 shares, compared to its average volume of 405,471. Eagle Materials Inc has a twelve month low of $191.91 and a twelve month high of $321.93. The firm has a 50 day moving average price of $209.77 and a 200 day moving average price of $224.55. The company has a market capitalization of $7.19 billion, a PE ratio of 16.00 and a beta of 1.26. The company has a quick ratio of 1.03, a current ratio of 2.73 and a debt-to-equity ratio of 0.84.

Eagle Materials (NYSE:EXP - Get Free Report) last released its earnings results on Tuesday, May 20th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.26). The company had revenue of $470.18 million for the quarter, compared to analyst estimates of $483.14 million. Eagle Materials had a return on equity of 32.71% and a net margin of 20.50%. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.24 earnings per share. As a group, equities research analysts forecast 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. Shareholders of record on Monday, June 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, June 16th. Eagle Materials's dividend payout ratio 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.