Retirement Systems of Alabama Has $21.72 Million Holdings in Eagle Materials Inc. (NYSE:EXP)

Retirement Systems of Alabama cut its position in shares of Eagle Materials Inc. (NYSE:EXP) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,095 shares of the construction company’s stock after selling 546 shares during the period. Retirement Systems of Alabama owned 0.31% of Eagle Materials worth $21,723,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of EXP. FMR LLC raised its stake in Eagle Materials by 41.0% in the third quarter. FMR LLC now owns 2,510,906 shares of the construction company’s stock valued at $418,116,000 after buying an additional 730,454 shares during the period. Invesco Ltd. grew its stake in Eagle Materials by 22.8% in the 3rd quarter. Invesco Ltd. now owns 1,097,542 shares of the construction company’s stock valued at $182,763,000 after buying an additional 203,862 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Eagle Materials by 271.7% in the 3rd quarter. William Blair Investment Management LLC now owns 666,874 shares of the construction company’s stock valued at $111,048,000 after acquiring an additional 487,454 shares during the period. Brown Advisory Inc. lifted its position in Eagle Materials by 1.1% during the third quarter. Brown Advisory Inc. now owns 334,785 shares of the construction company’s stock worth $55,748,000 after acquiring an additional 3,496 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Eagle Materials by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 329,032 shares of the construction company’s stock worth $54,790,000 after acquiring an additional 5,609 shares during the period. 96.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Eagle Materials from $200.00 to $265.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Loop Capital raised Eagle Materials from a “hold” rating to a “buy” rating and increased their price target for the stock from $170.00 to $240.00 in a research report on Monday, January 8th. Raymond James upped their target price on Eagle Materials from $170.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. StockNews.com cut Eagle Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Finally, Stifel Nicolaus upped their price objective on shares of Eagle Materials from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $263.50.

Eagle Materials Price Performance

EXP stock opened at $258.15 on Tuesday. Eagle Materials Inc. has a 1 year low of $145.03 and a 1 year high of $272.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.61 and a quick ratio of 1.13. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 18.22 and a beta of 1.34. The company has a 50 day simple moving average of $255.96 and a 200 day simple moving average of $215.82.

Eagle Materials Dividend Announcement

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

Insider Activity

In other Eagle Materials news, SVP Tony Thompson sold 638 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $235.07, for a total value of $149,974.66. Following the completion of the transaction, the senior vice president now owns 14,393 shares of the company’s stock, valued at approximately $3,383,362.51. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Eagle Materials news, EVP Matt Newby sold 2,940 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $251.15, for a total value of $738,381.00. Following the completion of the transaction, the executive vice president now directly owns 21,819 shares in the company, valued at approximately $5,479,841.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Tony Thompson sold 638 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 14,393 shares of the company’s stock, valued at approximately $3,383,362.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,925 shares of company stock worth $1,693,376. Insiders own 1.70% 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; 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.