Eagle Materials Inc. (NYSE:EXP) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in Eagle Materials Inc. (NYSE:EXP - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 77,268 shares of the construction company's stock after selling 3,352 shares during the period. California Public Employees Retirement System owned approximately 0.22% of Eagle Materials worth $15,673,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Eagle Materials by 41.0% in the third quarter. FMR LLC now owns 2,510,906 shares of the construction company's stock valued at $418,116,000 after acquiring an additional 730,454 shares during the period. Invesco Ltd. boosted its holdings in Eagle Materials by 22.8% in the 3rd quarter. Invesco Ltd. now owns 1,097,542 shares of the construction company's stock valued at $182,763,000 after purchasing an additional 203,862 shares during the period. William Blair Investment Management LLC boosted its holdings in Eagle Materials by 271.7% in the 3rd quarter. William Blair Investment Management LLC now owns 666,874 shares of the construction company's stock valued at $111,048,000 after purchasing an additional 487,454 shares during the period. Brown Advisory Inc. grew its position in shares of Eagle Materials by 1.1% during the 3rd quarter. Brown Advisory Inc. now owns 334,785 shares of the construction company's stock worth $55,748,000 after purchasing an additional 3,496 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Eagle Materials by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 329,032 shares of the construction company's stock worth $54,790,000 after purchasing an additional 5,609 shares during the period. 96.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EXP. Raymond James increased their price target on Eagle Materials from $170.00 to $230.00 and gave the stock an "outperform" rating in a research report on Monday, January 29th. Citigroup raised their price target on Eagle Materials from $244.00 to $311.00 and gave the stock a "buy" rating in a research report on Friday, April 5th. JPMorgan Chase & Co. upped their price objective on shares of Eagle Materials from $200.00 to $265.00 and gave the stock a "neutral" rating in a research report on Friday, March 22nd. Loop Capital raised shares of Eagle Materials from a "hold" rating to a "buy" rating and raised their target price for the company from $170.00 to $240.00 in a report on Monday, January 8th. Finally, Stifel Nicolaus boosted their target price on shares of Eagle Materials from $250.00 to $300.00 and gave the company a "buy" rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Eagle Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $263.50.

Eagle Materials Price Performance

EXP stock traded down $7.60 during trading on Tuesday, reaching $250.71. 173,775 shares of the company were exchanged, compared to its average volume of 292,314. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 17.69 and a beta of 1.34. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.61 and a quick ratio of 1.13. The company has a 50-day moving average of $255.96 and a two-hundred day moving average of $215.82. Eagle Materials Inc. has a twelve month low of $145.03 and a twelve month high of $272.72.

Eagle Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 14th. Eagle Materials's payout ratio is 7.06%.

Insider Activity

In other Eagle Materials news, SVP Tony Thompson sold 638 shares of the company's stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $235.07, for a total value of $149,974.66. Following the completion of the transaction, the senior vice president now owns 14,393 shares of the company's stock, valued at approximately $3,383,362.51. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Tony Thompson sold 638 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $235.07, for a total value of $149,974.66. Following the completion of the sale, the senior vice president now owns 14,393 shares of the company's stock, valued at $3,383,362.51. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Matt Newby sold 2,940 shares of the business's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $251.15, for a total value of $738,381.00. Following the completion of the transaction, the executive vice president now directly owns 21,819 shares in the company, valued at $5,479,841.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,925 shares of company stock worth $1,693,376. Insiders own 1.70% of the company's stock.

Eagle Materials 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; 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.