Texas Permanent School Fund Corp Buys 4,117 Shares of Eagle Materials Inc $EXP

Texas Permanent School Fund Corp increased its position in shares of Eagle Materials Inc (NYSE:EXP) by 22.3% during the 2nd quarter, Holdings Channel reports. The fund owned 22,555 shares of the construction company’s stock after buying an additional 4,117 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Eagle Materials were worth $4,559,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sheets Smith Wealth Management lifted its stake in Eagle Materials by 2.0% in the second quarter. Sheets Smith Wealth Management now owns 2,750 shares of the construction company’s stock valued at $556,000 after buying an additional 54 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Eagle Materials by 3.9% in the second quarter. ProShare Advisors LLC now owns 1,474 shares of the construction company’s stock valued at $298,000 after buying an additional 56 shares in the last quarter. Blue Trust Inc. grew its position in shares of Eagle Materials by 5.2% in the 2nd quarter. Blue Trust Inc. now owns 1,146 shares of the construction company’s stock valued at $232,000 after acquiring an additional 57 shares during the period. Fulton Bank N.A. increased its position in Eagle Materials by 6.1% during the second quarter. Fulton Bank N.A. now owns 1,084 shares of the construction company’s stock worth $219,000 after buying an additional 62 shares during the last quarter. Finally, Tectonic Advisors LLC boosted its stake in shares of Eagle Materials by 0.6% during the 2nd quarter. Tectonic Advisors LLC now owns 9,652 shares of the construction company’s stock worth $1,951,000 after acquiring an additional 62 shares during the period. 96.07% of the stock is currently owned by institutional investors.

Eagle Materials Stock Down 1.2%

Shares of NYSE EXP opened at $219.99 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.22 and a current ratio of 2.72. The company has a market capitalization of $7.05 billion, a P/E ratio of 16.24 and a beta of 1.37. The company’s 50 day moving average price is $220.24 and its 200-day moving average price is $220.83. Eagle Materials Inc has a 52-week low of $191.91 and a 52-week high of $269.60.

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

Eagle Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 15th will be paid a $0.25 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Eagle Materials’s dividend payout ratio (DPR) is currently 7.38%.

Analyst Upgrades and Downgrades

EXP has been the subject of several research analyst reports. Zacks Research downgraded shares of Eagle Materials from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Citigroup decreased their price target on Eagle Materials from $255.00 to $233.00 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 shares of Eagle Materials in a research report on Monday, October 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Eagle Materials in a research note on Monday. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $226.00 price target on shares of Eagle Materials in a research note on Monday, November 3rd. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $243.30.

Insider Buying and Selling

In other Eagle Materials news, Director David E. Rush purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was acquired at an average price of $208.08 per share, for a total transaction of $208,080.00. Following the purchase, the director owned 4,173 shares of the company’s stock, valued at $868,317.84. This trade represents a 31.52% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.

About Eagle Materials

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.