Arizona State Retirement System Trims Stake in Eagle Materials, Inc. (EXP)

Arizona State Retirement System lessened its holdings in shares of Eagle Materials, Inc. (NYSE:EXP) by 0.8% during the 4th quarter, HoldingsChannel reports. The firm owned 33,654 shares of the construction company’s stock after selling 276 shares during the period. Arizona State Retirement System’s holdings in Eagle Materials were worth $2,054,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Flagship Harbor Advisors LLC acquired a new stake in shares of Eagle Materials during the fourth quarter worth about $35,000. Avestar Capital LLC lifted its position in shares of Eagle Materials by 2,356.4% during the third quarter. Avestar Capital LLC now owns 2,309 shares of the construction company’s stock worth $178,000 after purchasing an additional 2,215 shares in the last quarter. Cerebellum GP LLC lifted its position in shares of Eagle Materials by 10.4% during the fourth quarter. Cerebellum GP LLC now owns 2,373 shares of the construction company’s stock worth $145,000 after purchasing an additional 223 shares in the last quarter. Rehmann Capital Advisory Group lifted its position in shares of Eagle Materials by 833.2% during the third quarter. Rehmann Capital Advisory Group now owns 2,417 shares of the construction company’s stock worth $206,000 after purchasing an additional 2,158 shares in the last quarter. Finally, Zeke Capital Advisors LLC acquired a new stake in shares of Eagle Materials during the third quarter worth about $248,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on EXP. Northcoast Research cut shares of Eagle Materials from a “buy” rating to a “neutral” rating in a research report on Friday, January 25th. Stephens set a $90.00 price target on shares of Eagle Materials and gave the stock a “buy” rating in a research report on Thursday, October 25th. TheStreet cut shares of Eagle Materials from a “b-” rating to a “c+” rating in a research report on Monday, October 29th. ValuEngine raised shares of Eagle Materials from a “strong sell” rating to a “sell” rating in a research report on Friday, November 2nd. Finally, Citigroup reduced their price target on shares of Eagle Materials from $122.00 to $111.00 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $106.88.

In other Eagle Materials news, Director Ed H. Bowman, Jr. sold 2,591 shares of the stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $71.35, for a total value of $184,867.85. Following the transaction, the director now directly owns 12,977 shares in the company, valued at $925,908.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

EXP stock opened at $73.37 on Thursday. 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 fifty-two week low of $57.00 and a fifty-two week high of $115.75. The company has a market cap of $3.34 billion, a P/E ratio of 17.39, a PEG ratio of 1.85 and a beta of 1.35.

Eagle Materials (NYSE:EXP) last released its earnings results on Tuesday, January 29th. The construction company reported $1.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.06). Eagle Materials had a return on equity of 17.49% and a net margin of 16.77%. The firm had revenue of $333.30 million for the quarter, compared to analysts’ expectations of $357.08 million. During the same quarter in the previous year, the company posted $2.08 earnings per share. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. Analysts anticipate that Eagle Materials, Inc. will post 5.16 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, April 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.55%. Eagle Materials’s payout ratio is 9.48%.

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Eagle Materials 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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Want to see what other hedge funds are holding EXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eagle Materials, Inc. (NYSE:EXP).

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

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