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

Eagle Materials Inc. (NYSE:EXPGet Rating) declared a quarterly dividend on Tuesday, May 24th, Wall Street Journal reports. Investors of record on Thursday, June 16th will be paid a dividend of 0.25 per share by the construction company on Friday, July 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Wednesday, June 15th.

Eagle Materials has increased its dividend by an average of 23.3% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Eagle Materials has a payout ratio of 9.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Eagle Materials to earn $12.63 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 7.9%.

EXP traded down $0.55 during midday trading on Tuesday, reaching $124.96. The company’s stock had a trading volume of 416,116 shares, compared to its average volume of 388,966. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 13.73 and a beta of 1.24. The company has a current ratio of 2.13, a quick ratio of 1.05 and a debt-to-equity ratio of 0.89. Eagle Materials has a 1 year low of $114.55 and a 1 year high of $169.15. The stock’s 50-day moving average is $126.00 and its 200-day moving average is $142.82.

Eagle Materials (NYSE:EXPGet Rating) last announced its quarterly earnings data on Thursday, May 19th. The construction company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.17. The business had revenue of $413.10 million for the quarter, compared to analysts’ expectations of $400.68 million. Eagle Materials had a net margin of 20.10% and a return on equity of 30.51%. The business’s revenue was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.56 earnings per share. As a group, equities research analysts forecast that Eagle Materials will post 10.88 earnings per share for the current fiscal year.

Several research analysts have weighed in on the stock. DA Davidson decreased their price target on shares of Eagle Materials from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday. Truist Financial reduced their price objective on shares of Eagle Materials from $172.00 to $155.00 and set a “buy” rating for the company in a research note on Monday. The Goldman Sachs Group cut their target price on shares of Eagle Materials from $190.00 to $162.00 and set a “buy” rating for the company in a research note on Friday. Loop Capital cut their target price on shares of Eagle Materials from $170.00 to $155.00 in a research note on Friday, January 28th. Finally, Citigroup lowered their price objective on shares of Eagle Materials from $194.00 to $175.00 in a research report on Friday, January 28th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $165.42.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. lifted its stake in Eagle Materials by 180.3% during the 1st quarter. Prudential Financial Inc. now owns 470,479 shares of the construction company’s stock valued at $60,390,000 after acquiring an additional 302,625 shares during the period. Morgan Stanley lifted its stake in shares of Eagle Materials by 154.0% in the 2nd quarter. Morgan Stanley now owns 183,038 shares of the construction company’s stock valued at $26,012,000 after purchasing an additional 110,972 shares during the period. Ancora Advisors LLC lifted its stake in shares of Eagle Materials by 9,092.3% in the 1st quarter. Ancora Advisors LLC now owns 95,600 shares of the construction company’s stock valued at $12,849,000 after purchasing an additional 94,560 shares during the period. Goldman Sachs Group Inc. increased its holdings in Eagle Materials by 25.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 220,308 shares of the construction company’s stock worth $28,279,000 after acquiring an additional 44,075 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in Eagle Materials by 16.0% in the 1st quarter. Royal Bank of Canada now owns 178,017 shares of the construction company’s stock worth $22,850,000 after acquiring an additional 24,541 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

About Eagle Materials (Get Rating)

Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.

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Dividend History for Eagle Materials (NYSE:EXP)

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