Eagle Materials Inc. (NYSE:EXP) Shares Bought by Texas Permanent School Fund Corp

Posted by Defense World Staff on Jul 24th, 2023

Texas Permanent School Fund Corp grew its holdings in Eagle Materials Inc. (NYSE:EXP – Free Report) by 30.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,332 shares of the construction company’s stock after purchasing an additional 7,562 shares during the quarter. Texas Permanent School Fund Corp owned about 0.09% of Eagle Materials worth $4,745,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of EXP. Raymond James Financial Services Advisors Inc. lifted its stake in Eagle Materials by 9.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,727 shares of the construction company’s stock worth $1,377,000 after purchasing an additional 905 shares in the last quarter. Bank of Montreal Can lifted its stake in Eagle Materials by 4.8% in the 1st quarter. Bank of Montreal Can now owns 3,810 shares of the construction company’s stock worth $511,000 after purchasing an additional 174 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Eagle Materials by 29.5% in the 1st quarter. MetLife Investment Management LLC now owns 25,532 shares of the construction company’s stock worth $3,277,000 after purchasing an additional 5,821 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Eagle Materials by 7.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,478 shares of the construction company’s stock worth $1,858,000 after purchasing an additional 993 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Eagle Materials by 6.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 22,071 shares of the construction company’s stock worth $2,913,000 after purchasing an additional 1,347 shares in the last quarter. 92.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eagle Materials

In other news, SVP William R. Devlin sold 4,914 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $168.30, for a total transaction of $827,026.20. Following the completion of the sale, the senior vice president now owns 26,269 shares in the company, valued at $4,421,072.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Eagle Materials news, SVP William R. Devlin sold 4,914 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $168.30, for a total transaction of $827,026.20. Following the completion of the sale, the senior vice president now directly owns 26,269 shares of the company’s stock, valued at approximately $4,421,072.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Haack sold 28,030 shares of the stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $165.34, for a total value of $4,634,480.20. Following the sale, the chief executive officer now directly owns 109,229 shares of the company’s stock, valued at $18,059,922.86. The disclosure for this sale can be found here. Insiders sold 46,939 shares of company stock worth $7,804,980 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Eagle Materials Stock Performance

NYSE:EXP opened at $190.91 on Monday. The company has a fifty day simple moving average of $174.30 and a two-hundred day simple moving average of $154.59. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 15.32 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 2.45 and a debt-to-equity ratio of 0.91. Eagle Materials Inc. has a 52 week low of $101.98 and a 52 week high of $194.05.

Eagle Materials (NYSE:EXP – Get Free Report) last posted its quarterly earnings results on Thursday, May 18th. The construction company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.35 by $0.44. The business had revenue of $470.10 million during the quarter, compared to the consensus estimate of $452.11 million. Eagle Materials had a net margin of 21.49% and a return on equity of 40.09%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.90 earnings per share. As a group, equities analysts anticipate that Eagle Materials Inc. will post 13.56 earnings per share for the current fiscal year.

Eagle Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $1.00 annualized dividend and a yield of 0.52%. Eagle Materials’s dividend payout ratio is presently 8.03%.

Analyst Ratings Changes

A number of research firms have weighed in on EXP. DA Davidson raised their target price on shares of Eagle Materials from $140.00 to $175.00 in a research note on Monday, May 22nd. Truist Financial lifted their price target on shares of Eagle Materials from $155.00 to $195.00 in a research report on Friday, May 19th. StockNews.com started coverage on shares of Eagle Materials in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Stifel Nicolaus lifted their price target on shares of Eagle Materials from $195.00 to $205.00 in a research report on Friday, July 14th. Finally, Stephens lifted their price target on shares of Eagle Materials from $170.00 to $190.00 in a research report on Friday, May 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $187.80.

Eagle Materials Profile

(Free Report)

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.