Teacher Retirement System of Texas raised its position in shares of Eagle Materials Inc. (NYSE:EXP) by 13.7% during the second quarter, Holdings Channel reports. The institutional investor owned 6,979 shares of the company’s stock after buying an additional 843 shares during the period. Teacher Retirement System of Texas’ holdings in Eagle Materials were worth $538,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in EXP. Frontier Capital Management Co. LLC boosted its position in Eagle Materials by 14.3% in the second quarter. Frontier Capital Management Co. LLC now owns 1,825,759 shares of the company’s stock worth $140,857,000 after buying an additional 227,736 shares in the last quarter. State Street Corp boosted its position in Eagle Materials by 4.5% in the first quarter. State Street Corp now owns 1,711,658 shares of the company’s stock worth $119,993,000 after buying an additional 74,038 shares in the last quarter. Neuberger Berman Group LLC boosted its position in Eagle Materials by 66.6% in the second quarter. Neuberger Berman Group LLC now owns 1,571,505 shares of the company’s stock worth $121,242,000 after buying an additional 627,950 shares in the last quarter. Findlay Park Partners LLP boosted its position in Eagle Materials by 5.5% in the first quarter. Findlay Park Partners LLP now owns 903,875 shares of the company’s stock worth $63,371,000 after buying an additional 46,936 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its position in Eagle Materials by 9.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 713,345 shares of the company’s stock worth $50,013,000 after buying an additional 63,345 shares in the last quarter. 91.67% of the stock is owned by institutional investors and hedge funds.
Eagle Materials Inc. (NYSE:EXP) traded up 0.67% during trading on Tuesday, hitting $76.31. The stock had a trading volume of 272,448 shares. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 23.65 and a beta of 1.47. Eagle Materials Inc. has a 52 week low of $45.03 and a 52 week high of $87.57. The company has a 50-day moving average of $79.13 and a 200 day moving average of $77.31.
Eagle Materials (NYSE:EXP) last released its earnings results on Monday, July 25th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.07. The company had revenue of $297 million for the quarter, compared to analyst estimates of $295.49 million. Eagle Materials had a return on equity of 17.68% and a net margin of 13.85%. Eagle Materials’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 EPS. On average, equities research analysts anticipate that Eagle Materials Inc. will post $4.34 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, October 5th. Eagle Materials’s dividend payout ratio (DPR) is presently 12.35%.
A number of research analysts recently issued reports on EXP shares. Zacks Investment Research raised Eagle Materials from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a report on Tuesday, July 26th. DA Davidson set a $100.00 price target on Eagle Materials and gave the company a “buy” rating in a report on Tuesday, September 13th. CL King cut Eagle Materials from a “strong-buy” rating to a “neutral” rating in a report on Tuesday, July 26th. Finally, Standpoint Research cut Eagle Materials from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $84.13.
In related news, EVP Robert S. Stewart sold 12,098 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $85.08, for a total value of $1,029,297.84. Following the sale, the executive vice president now directly owns 66,779 shares of the company’s stock, valued at $5,681,557.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director F William Barnett sold 16,221 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $85.77, for a total value of $1,391,275.17. Following the completion of the sale, the director now directly owns 7,519 shares in the company, valued at $644,904.63. The disclosure for this sale can be found here. 5.50% of the stock is owned by corporate insiders.
Eagle Materials Company Profile
Eagle Materials Inc is a supplier of construction products, building materials and materials used for oil and natural gas extraction. The Company operates through five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants. The Company’s construction products are used in residential, industrial, commercial and infrastructure construction, and include cement, slag, concrete and aggregates.
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