State of New Jersey Common Pension Fund D Has $3.56 Million Stake in Eagle Materials Inc. (NYSE:EXP)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Eagle Materials Inc. (NYSE:EXP) by 10.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,537 shares of the construction company’s stock after selling 2,025 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.05% of Eagle Materials worth $3,557,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of EXP. FMR LLC increased its position in Eagle Materials by 41.0% during the third quarter. FMR LLC now owns 2,510,906 shares of the construction company’s stock worth $418,116,000 after buying an additional 730,454 shares during the last quarter. William Blair Investment Management LLC increased its position in Eagle Materials by 271.7% during the third quarter. William Blair Investment Management LLC now owns 666,874 shares of the construction company’s stock worth $111,048,000 after buying an additional 487,454 shares during the last quarter. Invesco Ltd. increased its position in Eagle Materials by 22.8% during the third quarter. Invesco Ltd. now owns 1,097,542 shares of the construction company’s stock worth $182,763,000 after buying an additional 203,862 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in Eagle Materials during the third quarter worth $16,894,000. Finally, First Dallas Securities Inc. increased its position in Eagle Materials by 413.5% during the third quarter. First Dallas Securities Inc. now owns 85,423 shares of the construction company’s stock worth $14,225,000 after buying an additional 68,786 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on EXP shares. Raymond James upped their price target on shares of Eagle Materials from $170.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Truist Financial upped their price target on shares of Eagle Materials from $290.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Stifel Nicolaus upped their price target on shares of Eagle Materials from $250.00 to $300.00 and gave the company a “buy” rating in a report on Monday, April 15th. JPMorgan Chase & Co. upped their price target on shares of Eagle Materials from $200.00 to $265.00 and gave the company a “neutral” rating in a report on Friday, March 22nd. Finally, Stephens upped their price target on shares of Eagle Materials from $250.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $263.50.

Eagle Materials Stock Up 1.1 %

NYSE EXP opened at $256.70 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 2.61. The firm has a 50-day simple moving average of $255.73 and a 200 day simple moving average of $214.56. Eagle Materials Inc. has a twelve month low of $143.95 and a twelve month high of $272.72. The stock has a market cap of $8.84 billion, a PE ratio of 18.12 and a beta of 1.34.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Thursday, January 25th. The construction company reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.56 by $0.16. The firm had revenue of $558.83 million during the quarter, compared to analysts’ expectations of $537.23 million. Eagle Materials had a net margin of 22.24% and a return on equity of 40.05%. On average, research analysts forecast that Eagle Materials Inc. will post 14.23 EPS for the current year.

Eagle Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Thursday, March 14th. Eagle Materials’s dividend payout ratio is 7.06%.

Insiders Place Their Bets

In other Eagle Materials news, EVP Matt Newby sold 3,165 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $223.76, for a total transaction of $708,200.40. Following the completion of the transaction, the executive vice president now owns 21,819 shares in the company, valued at $4,882,219.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director David B. Powers sold 3,347 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $240.52, for a total transaction of $805,020.44. Following the completion of the sale, the director now owns 655 shares of the company’s stock, valued at $157,540.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Matt Newby sold 3,165 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $223.76, for a total transaction of $708,200.40. Following the sale, the executive vice president now directly owns 21,819 shares of the company’s stock, valued at approximately $4,882,219.44. The disclosure for this sale can be found here. Insiders sold a total of 10,090 shares of company stock worth $2,401,577 over the last quarter. Company insiders own 1.70% 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; 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.