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

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%.

Eagle Materials has raised its dividend by an average of 10.1% annually over the last three years. Eagle Materials has a dividend payout ratio of 5.7% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 1.5 %

EXP opened at $259.28 on Friday. The stock has a market capitalization of $8.63 billion, a P/E ratio of 18.52 and a beta of 1.37. The company has a current ratio of 2.76, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Eagle Materials has a 12 month low of $211.44 and a 12 month high of $321.93. The firm’s fifty day simple moving average is $260.47 and its 200 day simple moving average is $270.44.

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

Insider Activity at Eagle Materials

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Stephens reaffirmed an “overweight” rating and set a $310.00 price target on shares of Eagle Materials in a research note on Thursday, January 30th. Loop Capital downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a research report on Monday, November 25th. The Goldman Sachs Group boosted their price target on shares of Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group cut Eagle Materials from a “buy” rating to a “hold” rating and decreased their price objective for the company from $330.00 to $310.00 in a report on Monday, December 16th. Finally, Truist Financial upped their target price on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Eagle Materials has an average rating of “Hold” and an average price target of $296.80.

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.