Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires Shares of 12,949 Eagle Materials, Inc. (EXP)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Eagle Materials, Inc. (NYSE:EXP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,949 shares of the construction company’s stock, valued at approximately $1,359,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. increased its stake in Eagle Materials by 61.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,958 shares of the construction company’s stock worth $202,000 after purchasing an additional 744 shares during the period. Hilltop Holdings Inc. purchased a new position in Eagle Materials in the 1st quarter worth approximately $202,000. Cornerstone Wealth Management LLC purchased a new position in Eagle Materials in the 2nd quarter worth approximately $250,000. GWM Advisors LLC purchased a new position in Eagle Materials in the 1st quarter worth approximately $264,000. Finally, GSA Capital Partners LLP purchased a new position in Eagle Materials in the 1st quarter worth approximately $320,000. 95.12% of the stock is currently owned by institutional investors.
EXP opened at $94.40 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.34 and a current ratio of 2.61. Eagle Materials, Inc. has a 52-week low of $86.51 and a 52-week high of $122.49. The company has a market cap of $4.65 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 1.04 and a beta of 1.14.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, October 5th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, October 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.42%. Eagle Materials’s dividend payout ratio (DPR) is presently 9.48%.
In other news, EVP James H. Graass sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $115.00, for a total transaction of $575,000.00. Following the transaction, the executive vice president now directly owns 60,253 shares of the company’s stock, valued at $6,929,095. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Dale Craig Kesler sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $108.70, for a total value of $1,087,000.00. Following the transaction, the chief financial officer now directly owns 69,373 shares in the company, valued at $7,540,845.10. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock worth $2,224,500 over the last three months. Insiders own 1.70% of the company’s stock.
A number of equities analysts have commented on EXP shares. Zacks Investment Research raised Eagle Materials from a “sell” rating to a “hold” rating in a research note on Friday, May 11th. Citigroup decreased their price target on Eagle Materials from $132.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, July 31st. Stephens reaffirmed a “buy” rating and issued a $124.00 price target on shares of Eagle Materials in a research note on Thursday, August 9th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Eagle Materials in a research note on Friday, July 20th. Finally, Northcoast Research set a $128.00 price target on Eagle Materials and gave the stock a “buy” rating in a research note on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $125.67.
Eagle Materials Profile
Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.
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