Retirement Systems of Alabama Sells 546 Shares of Eagle Materials Inc. (NYSE:EXP)

Retirement Systems of Alabama cut its stake in Eagle Materials Inc. (NYSE:EXP) by 0.5% in the 4th quarter, Holdings Channel reports. The firm owned 107,095 shares of the construction company’s stock after selling 546 shares during the period. Retirement Systems of Alabama’s holdings in Eagle Materials were worth $21,723,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC bought a new position in Eagle Materials in the third quarter worth about $25,000. BluePath Capital Management LLC purchased a new position in shares of Eagle Materials in the 3rd quarter valued at approximately $31,000. Private Trust Co. NA lifted its position in Eagle Materials by 277.4% during the third quarter. Private Trust Co. NA now owns 200 shares of the construction company’s stock valued at $33,000 after buying an additional 147 shares during the period. Planned Solutions Inc. purchased a new position in Eagle Materials during the 4th quarter valued at about $35,000. Finally, Headlands Technologies LLC bought a new stake in shares of Eagle Materials in the 3rd quarter worth approximately $53,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EXP. Raymond James raised their price objective on Eagle Materials from $170.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. The Goldman Sachs Group increased their price objective on shares of Eagle Materials from $238.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Citigroup raised their price objective on shares of Eagle Materials from $244.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Stephens increased 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, April 24th. Finally, Loop Capital raised shares of Eagle Materials from a “hold” rating to a “buy” rating and raised their price target for the company from $170.00 to $240.00 in a research report on Monday, January 8th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $263.50.

Eagle Materials Stock Up 0.6 %

EXP opened at $258.15 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 2.61 and a debt-to-equity ratio of 0.77. Eagle Materials Inc. has a twelve month low of $145.03 and a twelve month high of $272.72. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of 18.22 and a beta of 1.34. The firm has a 50 day moving average price of $255.96 and a 200-day moving average price of $215.82.

Eagle Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 15th were given 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 (DPR) is presently 7.06%.

Insider Activity

In related news, SVP Tony Thompson sold 638 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $235.07, for a total transaction of $149,974.66. Following the completion of the sale, the senior vice president now directly owns 14,393 shares in the company, valued at $3,383,362.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director David B. Powers sold 3,347 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $240.52, for a total value of $805,020.44. Following the completion of the sale, the director now directly owns 655 shares of the company’s stock, valued at approximately $157,540.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Tony Thompson sold 638 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $235.07, for a total transaction of $149,974.66. Following the completion of the sale, the senior vice president now directly owns 14,393 shares of the company’s stock, valued at $3,383,362.51. The disclosure for this sale can be found here. Insiders sold 6,925 shares of company stock valued at $1,693,376 in the last quarter. 1.70% of the stock is currently owned by insiders.

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.