Eagle Materials Inc. (NYSE:EXP) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its holdings in Eagle Materials Inc. (NYSE:EXP - Free Report) by 84.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,466 shares of the construction company's stock after selling 8,172 shares during the period. Teacher Retirement System of Texas' holdings in Eagle Materials were worth $362,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Eagle Materials by 78.1% in the third quarter. Barclays PLC now owns 37,948 shares of the construction company's stock worth $10,915,000 after acquiring an additional 16,645 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Eagle Materials during the fourth quarter worth about $8,890,000. Empowered Funds LLC raised its position in shares of Eagle Materials by 242.4% in the fourth quarter. Empowered Funds LLC now owns 7,789 shares of the construction company's stock valued at $1,922,000 after buying an additional 5,514 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Eagle Materials by 60.3% during the third quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company's stock valued at $499,111,000 after buying an additional 652,836 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Eagle Materials during the fourth quarter worth approximately $38,115,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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Eagle Materials Stock Down 4.9 %

Shares of EXP traded down $11.11 during midday trading on Friday, reaching $217.54. 914,317 shares of the company were exchanged, compared to its average volume of 325,142. Eagle Materials Inc. has a 1-year low of $205.44 and a 1-year high of $321.93. The stock has a 50-day moving average price of $233.13 and a 200-day moving average price of $263.89. The company has a current ratio of 2.76, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 15.54 and a beta of 1.37.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The construction company reported $3.59 EPS for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a return on equity of 34.14% and a net margin of 20.91%. Research analysts expect 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, April 14th. Stockholders of record on Monday, March 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. Eagle Materials's dividend payout ratio (DPR) is presently 7.14%.

Insider Activity at Eagle Materials

In other Eagle Materials news, Director Michael R. Nicolais bought 310 shares of the stock in a transaction dated Monday, February 10th. The stock was bought at an average cost of $257.36 per share, for a total transaction of $79,781.60. Following the completion of the purchase, the director now directly owns 3,655 shares of the company's stock, valued at approximately $940,650.80. The trade was a 9.27 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

EXP has been the topic of a number of recent analyst reports. Citigroup lowered Eagle Materials from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $334.00 to $280.00 in a research note on Monday, January 6th. Loop Capital reduced their target price on Eagle Materials from $280.00 to $245.00 and set a "hold" rating on the stock in a research report on Tuesday. DA Davidson decreased their price target on Eagle Materials from $265.00 to $260.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. Stephens reaffirmed an "overweight" rating and set a $310.00 price objective on shares of Eagle Materials in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Eagle Materials from $310.00 to $250.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $279.40.

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, 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.