Eagle Materials Inc (EXP) Plans Quarterly Dividend of $0.10
Eagle Materials Inc (NYSE:EXP) declared a quarterly dividend on Wednesday, November 1st, RTT News reports. Investors of record on Friday, December 22nd will be given a dividend of 0.10 per share by the construction company on Friday, January 26th. This represents a $0.40 annualized dividend and a yield of 0.38%.
Eagle Materials has a dividend payout ratio of 7.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Eagle Materials to earn $6.24 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 6.4%.
Eagle Materials (NYSE:EXP) last issued its earnings results on Wednesday, October 25th. The construction company reported $1.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.22). Eagle Materials had a return on equity of 17.75% and a net margin of 15.93%. The business had revenue of $376.30 million during the quarter, compared to analysts’ expectations of $412.84 million. During the same period last year, the firm posted $1.25 EPS. Eagle Materials’s quarterly revenue was up 13.1% compared to the same quarter last year.
A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Eagle Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 24th. Standpoint Research lowered Eagle Materials from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. They noted that the move was a valuation call. BidaskClub raised Eagle Materials from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Citigroup Inc. raised Eagle Materials from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $115.00 to $110.00 in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Eagle Materials presently has an average rating of “Hold” and a consensus price target of $110.00.
In other news, SVP William R. Devlin sold 16,469 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $96.51, for a total transaction of $1,589,423.19. Following the completion of the sale, the senior vice president now owns 51,973 shares of the company’s stock, valued at approximately $5,015,914.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gerald J. Essl sold 2,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $93.40, for a total transaction of $186,800.00. Following the sale, the insider now directly owns 39,859 shares of the company’s stock, valued at approximately $3,722,830.60. The disclosure for this sale can be found here. In the last three months, insiders sold 93,316 shares of company stock valued at $9,305,922. 4.10% of the stock is owned by 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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