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

Eagle Materials Inc. (NYSE:EXP - Get Free Report) announced a quarterly dividend on Thursday, May 22nd, RTT News reports. Shareholders of record on Monday, June 16th will be given a dividend of 0.25 per share by the construction company on Thursday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, June 16th.

Eagle Materials has increased its dividend payment by an average of 10.1% annually over the last three years. Eagle Materials has a payout ratio of 6.5% indicating that 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 Trading Down 5.3%

Shares of EXP traded down $11.58 during trading hours on Wednesday, hitting $206.46. The company had a trading volume of 251,070 shares, compared to its average volume of 337,969. Eagle Materials has a 52-week low of $201.61 and a 52-week high of $321.93. The company has a quick ratio of 1.01, a current ratio of 2.76 and a debt-to-equity ratio of 0.66. The stock's 50 day moving average price is $223.68 and its 200 day moving average price is $245.65. The firm has a market cap of $6.75 billion, a P/E ratio of 14.75 and a beta of 1.36.

Eagle Materials (NYSE:EXP - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The construction company reported $2.08 EPS for the quarter, missing analysts' consensus estimates of $2.34 by ($0.26). Eagle Materials had a return on equity of 34.14% and a net margin of 20.91%. The company had revenue of $470.18 million during the quarter, compared to analysts' expectations of $483.14 million. During the same period last year, the firm earned $2.24 earnings per share. Eagle Materials's revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts predict that Eagle Materials will post 14.39 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on EXP shares. Citigroup lowered their price objective on shares of Eagle Materials from $279.00 to $230.00 and set a "neutral" rating for the company in a research note on Wednesday. Truist Financial lowered their price target on Eagle Materials from $330.00 to $280.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. DA Davidson cut their price objective on Eagle Materials from $260.00 to $245.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. The Goldman Sachs Group set a $242.00 target price on Eagle Materials and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, Loop Capital cut their price target on shares of Eagle Materials from $245.00 to $237.00 and set a "hold" rating on the stock in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Eagle Materials currently has an average rating of "Hold" and an average price target of $254.44.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Eagle Materials stock. Focus Partners Wealth raised its holdings in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 21.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,019 shares of the construction company's stock after purchasing an additional 357 shares during the period. Focus Partners Wealth's holdings in Eagle Materials were worth $448,000 as of its most recent SEC filing. 96.07% of the stock is owned by hedge funds and other institutional investors.

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.