Entropy Technologies LP Acquires New Stake in Eagle Materials Inc. (NYSE:EXP)

Entropy Technologies LP bought a new position in Eagle Materials Inc. (NYSE:EXP) during the third quarter, Holdings Channel.com reports. The institutional investor bought 3,198 shares of the construction company’s stock, valued at approximately $920,000.

Several other institutional investors and hedge funds have also recently modified their holdings of EXP. Baupost Group LLC MA bought a new position in shares of Eagle Materials in the first quarter worth approximately $71,199,000. Captrust Financial Advisors grew its stake in Eagle Materials by 61.6% in the 1st quarter. Captrust Financial Advisors now owns 509,605 shares of the construction company’s stock worth $138,485,000 after buying an additional 194,342 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of Eagle Materials by 3,537.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 172,779 shares of the construction company’s stock worth $46,953,000 after buying an additional 168,029 shares during the last quarter. Epoch Investment Partners Inc. raised its position in shares of Eagle Materials by 25.2% during the 2nd quarter. Epoch Investment Partners Inc. now owns 805,257 shares of the construction company’s stock valued at $175,111,000 after buying an additional 162,049 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Eagle Materials by 33.4% during the 2nd quarter. Federated Hermes Inc. now owns 529,701 shares of the construction company’s stock worth $115,189,000 after acquiring an additional 132,677 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Insider Activity

In related news, SVP Tony Thompson sold 1,401 shares of Eagle Materials stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total value of $439,914.00. Following the sale, the senior vice president now owns 13,212 shares in the company, valued at $4,148,568. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Eagle Materials news, SVP Tony Thompson sold 1,401 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total value of $439,914.00. Following the completion of the transaction, the senior vice president now directly owns 13,212 shares in the company, valued at approximately $4,148,568. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George John Damiris sold 1,000 shares of Eagle Materials stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total transaction of $277,620.00. Following the sale, the director now directly owns 7,943 shares in the company, valued at $2,205,135.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EXP. Citigroup increased their target price on Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Raymond James cut Eagle Materials from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. upped their target price on Eagle Materials from $270.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group lifted their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group upped their price objective on shares of Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $303.78.

Eagle Materials Trading Down 0.7 %

NYSE:EXP opened at $308.25 on Thursday. The firm has a market capitalization of $10.34 billion, a P/E ratio of 21.77 and a beta of 1.32. Eagle Materials Inc. has a 52 week low of $171.19 and a 52 week high of $317.00. The company has a quick ratio of 1.14, a current ratio of 2.34 and a debt-to-equity ratio of 0.74. The company has a fifty day moving average of $286.35 and a 200 day moving average of $256.53.

Eagle Materials (NYSE:EXP) last posted its earnings results on Tuesday, October 29th. The construction company reported $4.31 earnings per share for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44). Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The firm had revenue of $623.62 million for the quarter, compared to analysts’ expectations of $651.46 million. During the same quarter in the prior year, the company posted $4.28 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. On average, research analysts predict that Eagle Materials Inc. will post 15.24 earnings per share for the current year.

Eagle Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.32%. Eagle Materials’s dividend payout ratio (DPR) is presently 7.06%.

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, 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.