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

Eagle Materials Inc. (NYSE:EXP) declared a quarterly dividend on Friday, May 24th, Wall Street Journal reports. Shareholders of record on Monday, June 17th will be given a dividend of 0.25 per share by the construction company on Monday, July 15th. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Monday, June 17th.

Eagle Materials has increased its dividend payment by an average of 115.4% annually over the last three years. Eagle Materials has a payout ratio of 5.6% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 1.1 %

NYSE:EXP traded up $2.68 during mid-day trading on Friday, hitting $238.27. 216,716 shares of the stock traded hands, compared to its average volume of 295,153. The company has a quick ratio of 1.13, a current ratio of 2.62 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of 17.30 and a beta of 1.35. Eagle Materials has a 52 week low of $145.03 and a 52 week high of $276.61. The firm’s 50 day moving average is $258.36 and its two-hundred day moving average is $227.67.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Tuesday, May 21st. The construction company reported $2.24 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.48). Eagle Materials had a net margin of 21.14% and a return on equity of 37.31%. The company had revenue of $476.70 million for the quarter, compared to the consensus estimate of $480.20 million. During the same period in the prior year, the firm posted $2.79 EPS. The business’s revenue was up 1.4% on a year-over-year basis. On average, equities research analysts predict that Eagle Materials will post 16.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EXP has been the topic of a number of recent research reports. Raymond James raised their price objective on Eagle Materials from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday. Stephens lifted their price objective on shares of Eagle Materials from $250.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Truist Financial raised 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. Stifel Nicolaus decreased their price objective on Eagle Materials from $300.00 to $286.00 and set a “buy” rating for the company in a report on Wednesday. Finally, StockNews.com raised Eagle Materials from a “hold” rating to a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $279.67.

Insider Buying and Selling

In other Eagle Materials news, EVP Matt Newby sold 2,940 shares of Eagle Materials stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $251.15, for a total transaction of $738,381.00. Following the completion of the transaction, the executive vice president now owns 21,819 shares in the company, valued at approximately $5,479,841.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is owned by corporate insiders.

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.