Eagle Materials Inc. (EXP) to Issue Quarterly Dividend of $0.25 on April 14th

Eagle Materials Inc. (NYSE:EXP) declared a quarterly dividend on Thursday, February 6th,RTT News reports. Stockholders of record on Monday, March 17th will be given a dividend of 0.25 per share by the construction company on Monday, April 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, March 17th.

Eagle Materials has raised its dividend payment by an average of 10.1% annually over the last three years. Eagle Materials has a dividend payout ratio of 5.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Eagle Materials to earn $16.57 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 6.0%.

Eagle Materials Price Performance

EXP opened at $256.05 on Friday. The company has a quick ratio of 1.01, a current ratio of 2.76 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average price is $259.42 and its 200 day moving average price is $270.59. Eagle Materials has a fifty-two week low of $211.44 and a fifty-two week high of $321.93. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of 18.29 and a beta of 1.37.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Wednesday, January 29th. The construction company reported $3.59 earnings per share for the quarter, missing analysts’ consensus estimates of $3.97 by ($0.38). Eagle Materials had a return on equity of 34.14% and a net margin of 20.91%. As a group, sell-side analysts expect that Eagle Materials will post 14.6 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Loop Capital downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a report on Monday, November 25th. JPMorgan Chase & Co. boosted their target price on shares of Eagle Materials from $290.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Stephens restated an “overweight” rating and issued a $310.00 price target on shares of Eagle Materials in a research note on Thursday, January 30th. Citigroup cut Eagle Materials from a “buy” rating to a “neutral” rating and lowered their target price for the company from $334.00 to $280.00 in a research report on Monday, January 6th. Finally, Truist Financial raised their price target on Eagle Materials from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, November 4th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Eagle Materials has a consensus rating of “Hold” and a consensus price target of $296.80.

Insider Buying and Selling at Eagle Materials

In other news, Director Richard Ross Stewart sold 3,577 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $300.30, for a total transaction of $1,074,173.10. Following the transaction, the director now directly owns 1,100 shares in the company, valued at $330,330. The trade was a 76.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Haack sold 11,888 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $310.50, for a total value of $3,691,224.00. Following the completion of the sale, the chief executive officer now directly owns 85,811 shares of the company’s stock, valued at approximately $26,644,315.50. The trade was a 12.17 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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.