Public Employees Retirement System of Ohio Buys Shares of 9,644 Eagle Materials Inc $EXP

Key Points

• Public Employees Retirement System of Ohio bought 9,644 shares of Eagle Materials in the second quarter, valued at approximately $2.17 million. Institutional investors collectively own 96.07% of the company.
• Eagle Materials reported quarterly revenue of $650.97 million, up 2.6% year over year and above estimates, but earnings per share of $3.29 fell short of the $3.37 consensus.
• Analysts maintain a largely neutral outlook, with a consensus “Hold” rating and a $223.67 target price compared with the stock’s recent price of $194.33; the company also declared a $0.25 quarterly dividend.

Public Employees Retirement System of Ohio purchased a new stake in Eagle Materials Inc (NYSE:EXP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 9,644 shares of the construction company's stock, valued at approximately $2,170,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Redwood Investment Management LLC purchased a new stake in shares of Eagle Materials during the 2nd quarter valued at approximately $1,189,000. Corient Private Wealth LP purchased a new position in Eagle Materials in the second quarter worth approximately $618,000. Bank of America Corp DE purchased a new position in Eagle Materials in the second quarter worth approximately $66,255,000. Caisse de depot et placement du Quebec acquired a new stake in Eagle Materials during the second quarter worth $1,598,000. Finally, Man Group plc acquired a new stake in Eagle Materials during the second quarter worth $4,851,000. Institutional investors and hedge funds own 96.07% of the company's stock.

Eagle Materials Trading Down 0.1%

EXP opened at $194.33 on Monday. Eagle Materials Inc has a 52 week low of $171.99 and a 52 week high of $245.53. The business has a fifty day simple moving average of $208.15 and a 200-day simple moving average of $206.90. The firm has a market cap of $5.96 billion, a P/E ratio of 15.36 and a beta of 1.36. The company has a quick ratio of 1.91, a current ratio of 3.23 and a debt-to-equity ratio of 1.17.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.29 earnings per share for the quarter, missing analysts' consensus estimates of $3.37 by ($0.08). The firm 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 company's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.76 earnings per share. On average, equities analysts expect that Eagle Materials Inc will post 12.66 earnings per share for the current year.

Eagle Materials Dividend Announcement

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

Insider Transactions at Eagle Materials

In other news, SVP Tony Thompson sold 3,074 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $203.96, for a total value of $626,973.04. Following the completion of the transaction, the senior vice president owned 10,142 shares of the company's stock, valued at approximately $2,068,562.32. This trade represents a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EXP has been the topic of several recent analyst reports. 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. Stephens raised their price objective on Eagle Materials from $225.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Wall Street Zen upgraded shares of Eagle Materials from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. DA Davidson started coverage on shares of Eagle Materials in a research report on Monday, August 24th. They issued a "neutral" rating and a $220.00 target price on the stock. Finally, Zacks Research lowered shares of Eagle Materials from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $223.67.

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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