Entropy Technologies LP Has $2.50 Million Position in Eagle Materials Inc (NYSE:EXP)

Key Points

• Entropy Technologies LP increased its position in Eagle Materials Inc shares by 276.0% in the first quarter, now holding 11,272 shares valued at approximately $2.5 million.
• Several institutional investors, including Parallel Advisors LLC and Private Trust Co. NA, have also notably increased their holdings in Eagle Materials during the first quarter.
• Eagle Materials recently announced a $0.25 quarterly dividend to be paid on October 16th, representing an annualized yield of 0.4%.

Entropy Technologies LP increased its stake in shares of Eagle Materials Inc (NYSE:EXP - Free Report) by 276.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,272 shares of the construction company's stock after purchasing an additional 8,274 shares during the quarter. Entropy Technologies LP's holdings in Eagle Materials were worth $2,502,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in EXP. Bank of Montreal Can boosted its stake in shares of Eagle Materials by 7.1% in the fourth quarter. Bank of Montreal Can now owns 4,779 shares of the construction company's stock worth $1,179,000 after buying an additional 318 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Eagle Materials during the fourth quarter worth approximately $38,115,000. Treasurer of the State of North Carolina boosted its position in Eagle Materials by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 14,626 shares of the construction company's stock worth $3,609,000 after purchasing an additional 90 shares in the last quarter. Optimize Financial Inc purchased a new position in Eagle Materials during the fourth quarter worth approximately $247,000. Finally, Mariner LLC boosted its position in Eagle Materials by 5.0% during the fourth quarter. Mariner LLC now owns 7,333 shares of the construction company's stock worth $1,810,000 after purchasing an additional 347 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EXP shares. Stephens set a $255.00 target price on Eagle Materials and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Truist Financial cut their price target on Eagle Materials from $330.00 to $280.00 and set a "buy" rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group set a $242.00 price target on Eagle Materials and gave the company a "buy" rating in a report on Wednesday, May 21st. Loop Capital increased their price target on Eagle Materials from $230.00 to $245.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. Finally, Stifel Nicolaus set a $241.00 price target on Eagle Materials and gave the company a "hold" rating in a report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $255.33.

Eagle Materials Price Performance

NYSE:EXP traded up $7.58 during midday trading on Wednesday, hitting $241.31. 383,274 shares of the stock were exchanged, compared to its average volume of 420,925. Eagle Materials Inc has a one year low of $191.91 and a one year high of $321.93. The company has a market capitalization of $7.83 billion, a price-to-earnings ratio of 17.77 and a beta of 1.24. The business has a 50-day moving average price of $213.27 and a two-hundred day moving average price of $222.30. The company has a current ratio of 2.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The construction company reported $3.76 EPS for the quarter, beating analysts' consensus estimates of $3.73 by $0.03. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. The company had revenue of $634.69 million during the quarter, compared to analyst estimates of $611.52 million. Sell-side analysts predict that Eagle Materials Inc will post 14.39 EPS for the current year.

Eagle Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.4%. Eagle Materials's payout ratio is presently 7.36%.

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.