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

Eagle Materials Inc. (NYSE:EXP) announced a quarterly dividend on Tuesday, November 12th,RTT News reports. Stockholders of record on Monday, December 16th will be paid a dividend of 0.25 per share by the construction company on Monday, January 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Monday, December 16th.

Eagle Materials has increased its dividend by an average of 115.4% per year over the last three years. Eagle Materials has a payout ratio of 6.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Eagle Materials to earn $16.98 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 Price Performance

Shares of Eagle Materials stock opened at $308.25 on Thursday. The stock has a market cap of $10.34 billion, a P/E ratio of 21.77 and a beta of 1.32. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 2.34. The stock’s fifty day moving average is $286.35 and its 200 day moving average is $256.53. Eagle Materials has a one year low of $171.19 and a one year high of $317.00.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $4.31 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.44). Eagle Materials had a return on equity of 35.79% and a net margin of 21.32%. The company had revenue of $623.62 million during the quarter, compared to the consensus estimate of $651.46 million. During the same period last year, the business earned $4.28 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Eagle Materials will post 15.24 earnings per share for the current year.

Insider Activity

In other Eagle Materials news, Director George John Damiris sold 1,000 shares of Eagle Materials stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $277.62, for a total value of $277,620.00. Following the sale, the director now owns 7,943 shares of the company’s stock, valued at $2,205,135.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Eagle Materials news, Director George John Damiris sold 1,000 shares of Eagle Materials stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $277.62, for a total value of $277,620.00. Following the completion of the transaction, the director now directly owns 7,943 shares of the company’s stock, valued at $2,205,135.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Tony Thompson sold 1,401 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $314.00, for a total transaction of $439,914.00. Following the sale, the senior vice president now owns 13,212 shares in the company, valued at $4,148,568. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on EXP. JPMorgan Chase & Co. lifted their price target on shares of Eagle Materials from $270.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Jefferies Financial Group lifted their target price on shares of Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Truist Financial increased their price target on Eagle Materials from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Citigroup boosted their price objective on Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Stephens increased their target price on Eagle Materials from $280.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Eagle Materials currently has an average rating of “Moderate Buy” and an average price target of $303.78.

Eagle Materials Company Profile

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.