State of New Jersey Common Pension Fund D Sells 2,025 Shares of Eagle Materials Inc. (NYSE:EXP)

State of New Jersey Common Pension Fund D lessened its position in shares of Eagle Materials Inc. (NYSE:EXP) by 10.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 17,537 shares of the construction company’s stock after selling 2,025 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Eagle Materials were worth $3,557,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC bought a new stake in shares of Eagle Materials during the 3rd quarter worth approximately $25,000. BluePath Capital Management LLC bought a new stake in shares of Eagle Materials during the 3rd quarter worth approximately $31,000. Private Trust Co. NA lifted its holdings in shares of Eagle Materials by 277.4% during the 3rd quarter. Private Trust Co. NA now owns 200 shares of the construction company’s stock worth $33,000 after acquiring an additional 147 shares during the period. Planned Solutions Inc. bought a new stake in shares of Eagle Materials during the 4th quarter worth approximately $35,000. Finally, Headlands Technologies LLC bought a new stake in shares of Eagle Materials during the 3rd quarter worth approximately $53,000. Institutional investors own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

EXP has been the subject of a number of recent analyst reports. Truist Financial upped their price target on shares of Eagle Materials from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. upped their price objective on shares of Eagle Materials from $200.00 to $265.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Stephens upped their price objective on shares of Eagle Materials from $250.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday. Loop Capital upgraded shares of Eagle Materials from a “hold” rating to a “buy” rating and upped their price objective for the stock from $170.00 to $240.00 in a research report on Monday, January 8th. Finally, The Goldman Sachs Group upped their price objective on shares of Eagle Materials from $238.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Eagle Materials currently has an average rating of “Moderate Buy” and an average price target of $263.50.

Insider Transactions at Eagle Materials

In other news, Director David B. Powers sold 3,347 shares of the stock in a transaction 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 directly owns 655 shares in the company, valued at $157,540.60. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director David B. Powers sold 3,347 shares of the stock in a transaction 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 transaction, the director now directly owns 655 shares of the company’s stock, valued at $157,540.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 transaction, the senior vice president now directly owns 14,393 shares in the company, valued at $3,383,362.51. 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 three months. 1.70% of the stock is owned by company insiders.

Eagle Materials Trading Up 1.1 %

Shares of 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. Eagle Materials Inc. has a 52-week low of $143.95 and a 52-week high of $272.72. The firm has a 50 day moving average price of $255.73 and a two-hundred day moving average price of $214.56. The stock has a market cap of $8.84 billion, a P/E 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.16. Eagle Materials had a net margin of 22.24% and a return on equity of 40.05%. The firm had revenue of $558.83 million during the quarter, compared to analysts’ expectations of $537.23 million. As a group, equities 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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.39%. The ex-dividend date was Thursday, March 14th. Eagle Materials’s dividend payout ratio (DPR) is currently 7.06%.

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.