Eagle Materials Inc. (NYSE:EXP) Announces $0.25 Quarterly Dividend

Eagle Materials Inc. (NYSE:EXPGet Free Report) declared a quarterly dividend on Thursday, May 23rd, Wall Street Journal reports. Stockholders of record on Monday, June 17th will be paid a dividend of 0.25 per share by the construction company on Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, June 17th.

Eagle Materials has raised its dividend payment by an average of 115.4% annually over the last three years. Eagle Materials has a dividend payout ratio of 5.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Eagle Materials to earn $17.06 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 5.9%.

Eagle Materials Stock Performance

Shares of EXP stock traded up $2.57 on Friday, hitting $238.16. 216,716 shares of the stock were exchanged, compared to its average volume of 295,802. The firm’s 50 day moving average is $258.36 and its two-hundred day moving average is $227.67. The firm has a market capitalization of $8.20 billion, a PE ratio of 17.30 and a beta of 1.35. The company has a current ratio of 2.62, a quick ratio of 1.13 and a debt-to-equity ratio of 0.83. Eagle Materials has a one year low of $145.03 and a one year high of $276.61.

Eagle Materials (NYSE:EXPGet Free Report) last issued its quarterly earnings data on Tuesday, May 21st. The construction company reported $2.24 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.48). Eagle Materials had a return on equity of 37.31% and a net margin of 21.14%. The company had revenue of $476.70 million during the quarter, compared to the consensus estimate of $480.20 million. During the same quarter last year, the company posted $2.79 earnings per share. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. Sell-side analysts expect that Eagle Materials will post 16.01 earnings per share for the current fiscal year.

Insider Transactions at Eagle Materials

In other Eagle Materials news, EVP Matt Newby sold 2,940 shares of Eagle Materials stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $251.15, for a total transaction of $738,381.00. Following the transaction, the executive vice president now owns 21,819 shares of the company’s stock, valued at $5,479,841.85. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EXP. Truist Financial boosted their target price on shares of Eagle Materials from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. increased their target price on Eagle Materials from $200.00 to $265.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. Stephens raised their target price on Eagle Materials from $250.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Loop Capital cut their target price on Eagle Materials from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Stifel Nicolaus lowered their target price on Eagle Materials from $300.00 to $286.00 and set a “buy” rating for the company in a report on Wednesday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $279.67.

View Our Latest Research Report on EXP

About Eagle Materials

(Get 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, 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.

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Dividend History for Eagle Materials (NYSE:EXP)

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