Retirement Systems of Alabama Lowers Stake in Eagle Materials, Inc. (EXP)

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Retirement Systems of Alabama lowered its stake in shares of Eagle Materials, Inc. (NYSE:EXP) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,148 shares of the construction company’s stock after selling 1,057 shares during the quarter. Retirement Systems of Alabama owned 0.27% of Eagle Materials worth $10,297,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of EXP. Federated Investors Inc. PA raised its position in shares of Eagle Materials by 4,465.3% during the 3rd quarter. Federated Investors Inc. PA now owns 721,461 shares of the construction company’s stock valued at $61,497,000 after buying an additional 705,658 shares in the last quarter. Ardevora Asset Management LLP purchased a new stake in shares of Eagle Materials during the 4th quarter valued at $34,958,000. Two Sigma Advisers LP raised its position in shares of Eagle Materials by 1,587.1% during the 4th quarter. Two Sigma Advisers LP now owns 504,078 shares of the construction company’s stock valued at $30,764,000 after buying an additional 474,200 shares in the last quarter. Brown Advisory Inc. purchased a new stake in shares of Eagle Materials during the 4th quarter valued at $25,648,000. Finally, Norges Bank purchased a new stake in shares of Eagle Materials during the 4th quarter valued at $25,150,000. Hedge funds and other institutional investors own 95.64% of the company’s stock.

EXP stock opened at $90.08 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.87 and a current ratio of 2.26. Eagle Materials, Inc. has a 52 week low of $57.00 and a 52 week high of $115.75. The firm has a market cap of $4.13 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 1.94 and a beta of 1.34.

Eagle Materials (NYSE:EXP) last released its earnings results on Tuesday, January 29th. The construction company reported $1.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.06). Eagle Materials had a net margin of 16.77% and a return on equity of 17.49%. The business had revenue of $333.30 million for the quarter, compared to the consensus estimate of $357.08 million. During the same period in the prior year, the business posted $2.08 EPS. Eagle Materials’s revenue for the quarter was down 7.3% on a year-over-year basis. Research analysts expect that Eagle Materials, Inc. will post 5.09 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Thursday, April 11th. Eagle Materials’s dividend payout ratio is currently 9.48%.

In related news, Director Ed H. Bowman, Jr. sold 2,591 shares of the stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $71.35, for a total transaction of $184,867.85. Following the transaction, the director now owns 12,977 shares of the company’s stock, valued at approximately $925,908.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by company insiders.

Several analysts have recently weighed in on EXP shares. JPMorgan Chase & Co. started coverage on shares of Eagle Materials in a research report on Thursday, March 21st. They set a “neutral” rating and a $85.00 price objective on the stock. Jefferies Financial Group upgraded shares of Eagle Materials from an “underweight” rating to a “market weight” rating in a research report on Monday, March 11th. ValuEngine upgraded shares of Eagle Materials from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. Citigroup lowered their price objective on shares of Eagle Materials from $111.00 to $79.00 and set a “buy” rating on the stock in a research report on Thursday, January 3rd. Finally, DA Davidson raised their price objective on shares of Eagle Materials to $90.00 and gave the company a “buy” rating in a research report on Wednesday, January 2nd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $103.14.

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Eagle Materials Company Profile

Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.

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Institutional Ownership by Quarter for Eagle Materials (NYSE:EXP)

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