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

Key Points

• Eagle Materials Inc has declared a quarterly dividend of $0.25 per share, which will be paid to stockholders on October 16th, 2023, for shares recorded by September 15th.
• The company has a payout ratio of 6.5%, indicating that its dividend is well-supported by earnings, with expected earnings of $15.75 per share next year.
• Shares of Eagle Materials (NYSE:EXP) saw a decrease of 2.1% during trading, closing at $220.66, with a market capitalization of $7.16 billion.

Eagle Materials Inc (NYSE:EXP - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, RTT News reports. Stockholders of record on Monday, September 15th will be paid a dividend of 0.25 per share by the construction company on Thursday, October 16th. This represents a c) annualized dividend and a dividend yield of 0.5%.

Eagle Materials has a payout ratio of 6.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Eagle Materials to earn $15.75 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 6.3%.

Eagle Materials Stock Down 2.1%

Shares of NYSE:EXP traded down $4.79 during trading on Wednesday, hitting $220.66. The company's stock had a trading volume of 399,272 shares, compared to its average volume of 407,280. The company has a market capitalization of $7.16 billion, a PE ratio of 16.25 and a beta of 1.24. Eagle Materials has a fifty-two week low of $191.91 and a fifty-two week high of $321.93. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.26 and a current ratio of 2.73. The stock's 50-day moving average price is $210.14 and its two-hundred day moving average price is $223.35.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The construction company reported $3.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.03. The firm had revenue of $634.69 million for the quarter, compared to analysts' expectations of $611.52 million. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. As a group, sell-side analysts expect that Eagle Materials will post 14.39 EPS for the current year.

Institutional Investors Weigh In On Eagle Materials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Trexquant Investment LP acquired a new position in shares of Eagle Materials in the fourth quarter worth about $2,067,000. Huntington National Bank grew its position in Eagle Materials by 154.8% during the 4th quarter. Huntington National Bank now owns 237 shares of the construction company's stock worth $58,000 after purchasing an additional 144 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Eagle Materials during the 4th quarter valued at $670,000. Aviva PLC lifted its holdings in shares of Eagle Materials by 139.7% in the fourth quarter. Aviva PLC now owns 2,105 shares of the construction company's stock valued at $519,000 after purchasing an additional 1,227 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Eagle Materials by 7.1% in the fourth quarter. Bank of Montreal Can now owns 4,779 shares of the construction company's stock worth $1,179,000 after buying an additional 318 shares during the period. Institutional investors own 96.07% 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.

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