Eagle Materials Inc $EXP Stock Holdings Lifted by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp grew its stake in shares of Eagle Materials Inc (NYSE:EXP) by 22.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 22,555 shares of the construction company’s stock after acquiring an additional 4,117 shares during the period. Texas Permanent School Fund Corp owned about 0.07% of Eagle Materials worth $4,559,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Nuveen LLC acquired a new position in shares of Eagle Materials in the 1st quarter valued at $17,617,000. Dimensional Fund Advisors LP raised its position in Eagle Materials by 10.4% during the first quarter. Dimensional Fund Advisors LP now owns 576,249 shares of the construction company’s stock valued at $127,876,000 after buying an additional 54,324 shares during the period. Raymond James Financial Inc. lifted its position in shares of Eagle Materials by 3.8% in the first quarter. Raymond James Financial Inc. now owns 160,400 shares of the construction company’s stock worth $35,598,000 after purchasing an additional 5,939 shares in the last quarter. Hsbc Holdings PLC lifted its position in Eagle Materials by 288.8% in the 1st quarter. Hsbc Holdings PLC now owns 3,783 shares of the construction company’s stock worth $829,000 after buying an additional 2,810 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Eagle Materials by 25.5% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 23,271 shares of the construction company’s stock worth $5,170,000 after acquiring an additional 4,735 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Stock Performance

Shares of NYSE:EXP opened at $219.99 on Thursday. The stock has a market capitalization of $7.05 billion, a price-to-earnings ratio of 16.24 and a beta of 1.37. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.72 and a quick ratio of 1.22. The business’s fifty day moving average price is $220.24 and its two-hundred day moving average price is $220.83. Eagle Materials Inc has a fifty-two week low of $191.91 and a fifty-two week high of $269.60.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $4.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.12). Eagle Materials had a net margin of 19.41% and a return on equity of 30.13%. The firm had revenue of $638.91 million for the quarter, compared to the consensus estimate of $635.55 million. During the same period in the prior year, the business earned $4.31 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, analysts predict that Eagle Materials Inc will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Monday, December 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, December 15th. Eagle Materials’s payout ratio is currently 7.38%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Eagle Materials from $245.00 to $230.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Jefferies Financial Group restated a “hold” rating and set a $226.00 target price on shares of Eagle Materials in a research note on Monday, November 3rd. DA Davidson decreased their price target on shares of Eagle Materials from $245.00 to $225.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Stifel Nicolaus set a $246.00 price objective on Eagle Materials in a research report on Monday, October 27th. Finally, Wells Fargo & Company reduced their target price on Eagle Materials from $261.00 to $251.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Eagle Materials has an average rating of “Hold” and an average target price of $243.30.

Insider Buying and Selling at Eagle Materials

In related news, Director David E. Rush bought 1,000 shares of Eagle Materials stock in a transaction dated Wednesday, November 5th. The shares were bought at an average cost of $208.08 per share, for a total transaction of $208,080.00. Following the completion of the transaction, the director owned 4,173 shares of the company’s stock, valued at approximately $868,317.84. This trade represents a 31.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Eagle Materials Company 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, 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.