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

Eagle Materials Inc (NYSE:EXP) declared a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Monday, December 14th will be given a dividend of $0.25 per share by the construction company on Monday, January 11th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, December 14th.

Eagle Materials has raised its dividend payment by an average of 0.6% per year 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 $13.02 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 7.7%.

Eagle Materials Trading Down 1.4%

Shares of EXP opened at $192.78 on Wednesday. The business’s 50-day moving average price is $179.76 and its 200-day moving average price is $202.36. Eagle Materials has a twelve month low of $160.02 and a twelve month high of $245.53. The stock has a market cap of $5.91 billion, a PE ratio of 15.24 and a beta of 1.29. The company has a quick ratio of 1.91, a current ratio of 3.23 and a debt-to-equity ratio of 1.17.

Eagle Materials (NYSE:EXP) last released its quarterly earnings data on Wednesday, November 4th. The construction company reported $3.63 EPS for the quarter, missing analysts’ consensus estimates of $3.82 by ($0.19). Eagle Materials had a net margin of 17.32% and a return on equity of 26.87%. The firm had revenue of $652.75 million during the quarter, compared to the consensus estimate of $633.08 million. During the same quarter last year, the business posted $4.23 earnings per share. Eagle Materials’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts forecast that Eagle Materials will post 12.02 EPS for the current fiscal year.

Insider Activity at Eagle Materials

In other news, SVP Tony Thompson sold 3,074 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $203.96, for a total transaction of $626,973.04. Following the completion of the transaction, the senior vice president owned 10,142 shares of the company’s stock, valued at approximately $2,068,562.32. The trade was a 23.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Eagle Materials

A number of institutional investors and hedge funds have recently bought and sold shares of EXP. University of Texas Texas AM Investment Management Co. grew its stake in Eagle Materials by 54.4% in the 3rd quarter. University of Texas Texas AM Investment Management Co. now owns 596 shares of the construction company’s stock worth $102,000 after buying an additional 210 shares in the last quarter. StoneX Group Inc. bought a new position in shares of Eagle Materials in the 3rd quarter worth $313,000. Kestra Advisory Services LLC increased its holdings in shares of Eagle Materials by 14.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 1,691 shares of the construction company’s stock worth $289,000 after buying an additional 215 shares during the last quarter. Covestor Ltd raised its position in shares of Eagle Materials by 23.9% during the 3rd quarter. Covestor Ltd now owns 519 shares of the construction company’s stock valued at $89,000 after buying an additional 100 shares in the last quarter. Finally, Provenance Wealth Advisors LLC raised its position in shares of Eagle Materials by 17,370.0% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 1,747 shares of the construction company’s stock valued at $299,000 after buying an additional 1,737 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Eagle Materials Company Profile

Eagle Materials Inc (NYSE: EXP) is a U.S.-based manufacturer of building materials used in residential, commercial, infrastructure and industrial construction. The company’s principal products include cement, gypsum wallboard, concrete and aggregates.

Its cement business produces and distributes Portland cement and related cement products, while its gypsum wallboard business supplies panels used in interior construction. Eagle Materials also provides ready-mixed concrete and construction aggregates, including crushed stone, sand and gravel, for building and infrastructure projects.

The company traces its history to Centex Construction Products, which was spun off from Centex Corporation in 1994 and later adopted the Eagle Materials name.