Eagle Materials Inc Plans Quarterly Dividend of $0.10 (EXP)
Eagle Materials Inc (NYSE:EXP) declared a quarterly dividend on Monday, August 7th, RTT News reports. Investors of record on Friday, October 6th will be paid a dividend of 0.10 per share by the construction company on Tuesday, November 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.43%.
Eagle Materials has a dividend payout ratio of 7.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Eagle Materials to earn $6.43 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 6.2%.
Shares of Eagle Materials (NYSE EXP) traded down 1.01% during trading on Monday, hitting $93.18. 422,956 shares of the company were exchanged. The company’s 50-day moving average price is $92.79 and its 200 day moving average price is $97.93. The stock has a market cap of $4.52 billion, a P/E ratio of 21.66 and a beta of 1.23. Eagle Materials has a 12 month low of $73.27 and a 12 month high of $110.64.
Eagle Materials (NYSE:EXP) last released its quarterly earnings results on Thursday, July 27th. The construction company reported $1.17 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.17. The business had revenue of $366.10 million during the quarter, compared to analyst estimates of $369.68 million. Eagle Materials had a net margin of 16.23% and a return on equity of 18.29%. The business’s revenue was up 23.1% on a year-over-year basis. During the same period last year, the business earned $0.93 EPS. On average, equities analysts predict that Eagle Materials will post $5.38 earnings per share for the current fiscal year.
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A number of research firms recently weighed in on EXP. Zacks Investment Research raised shares of Eagle Materials from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a report on Tuesday, June 27th. BidaskClub lowered shares of Eagle Materials from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Standpoint Research raised shares of Eagle Materials from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Citigroup Inc. raised shares of Eagle Materials from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $115.00 to $110.00 in a report on Monday, July 31st. Finally, Stephens raised shares of Eagle Materials from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $104.67.
In other Eagle Materials news, EVP James H. Graass sold 10,000 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $101.00, for a total transaction of $1,010,000.00. Following the completion of the transaction, the executive vice president now directly owns 69,653 shares of the company’s stock, valued at approximately $7,034,953. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.10% of the stock is owned by company insiders.
Eagle Materials Company Profile
Eagle Materials Inc is a supplier of construction products, building materials and materials used for oil and natural gas extraction. The Company operates through five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants. The Company’s construction products are used in residential, industrial, commercial and infrastructure construction, and include cement, slag, concrete and aggregates.
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