Eagle Materials Inc (EXP) To Go Ex-Dividend on December 14th

Eagle Materials Inc (NYSE:EXP) declared a quarterly dividend on Tuesday, November 3rd. Investors of record on Monday, December 14th will be paid a dividend of $0.25 per share by the construction company on Monday, January 11th. This represents a $1.00 annualized dividend 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% annually over the last three years. Eagle Materials has a dividend payout ratio of 6.5% meaning its dividend is sufficiently covered by earnings. 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 Up 2.7%

Shares of EXP stock opened at $197.97 on Thursday. Eagle Materials has a 52-week low of $160.02 and a 52-week high of $245.53. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.91 and a current ratio of 3.23. The firm has a market capitalization of $6.07 billion, a PE ratio of 15.65 and a beta of 1.29. The stock has a fifty day simple moving average of $179.73 and a two-hundred day simple moving average of $202.20.

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

Insider Buying and Selling at Eagle Materials

In other news, SVP Tony Thompson sold 3,074 shares of Eagle Materials stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $203.96, for a total value of $626,973.04. Following the sale, the senior vice president directly owned 10,142 shares of the company’s stock, valued at $2,068,562.32. The trade was a 23.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eagle Materials

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXP. Legal & General Group Plc acquired a new position in Eagle Materials during the 2nd quarter worth approximately $8,280,000. Squarepoint Ops LLC boosted its stake in shares of Eagle Materials by 87.2% in the second quarter. Squarepoint Ops LLC now owns 15,356 shares of the construction company’s stock valued at $3,455,000 after buying an additional 7,155 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Eagle Materials by 5,116.3% during the 1st quarter. Fifth Third Bancorp now owns 25,612 shares of the construction company’s stock worth $4,852,000 after buying an additional 25,121 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Eagle Materials during the 2nd quarter worth approximately $66,255,000. Finally, Redwood Investment Management LLC acquired a new position in Eagle Materials in the 2nd quarter valued at about $1,189,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

About Eagle Materials

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.