Eagle Materials Inc. (NYSE:EXP – Get Rating) announced a quarterly dividend on Monday, May 22nd, Wall Street Journal reports. Investors of record on Friday, June 16th will be given a dividend of 0.25 per share by the construction company on Friday, July 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Thursday, June 15th.
Eagle Materials has raised its dividend by an average of 35.7% per year over the last three years. Eagle Materials has a dividend payout ratio of 7.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Eagle Materials to earn $14.92 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 6.7%.
Eagle Materials Stock Performance
EXP stock opened at $166.75 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.08 and a current ratio of 2.45. The stock has a market cap of $5.90 billion, a P/E ratio of 13.38 and a beta of 1.31. The firm has a 50 day simple moving average of $147.77 and a 200 day simple moving average of $141.57. Eagle Materials has a 52 week low of $101.98 and a 52 week high of $169.19.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. DA Davidson upped their target price on shares of Eagle Materials from $140.00 to $175.00 in a research report on Monday. Stephens raised their target price on shares of Eagle Materials from $170.00 to $190.00 in a research note on Friday, May 19th. The Goldman Sachs Group raised their target price on shares of Eagle Materials from $130.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, January 27th. StockNews.com initiated coverage on shares of Eagle Materials in a research report on Thursday, May 18th. They set a “buy” rating for the company. Finally, Raymond James lifted their price objective on shares of Eagle Materials from $140.00 to $152.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 25th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $168.75.
Insiders Place Their Bets
In other news, SVP William R. Devlin sold 4,914 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $168.30, for a total transaction of $827,026.20. Following the sale, the senior vice president now directly owns 26,269 shares in the company, valued at $4,421,072.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.
Hedge Funds Weigh In On Eagle Materials
A number of institutional investors and hedge funds have recently modified their holdings of EXP. Norges Bank bought a new position in Eagle Materials in the 4th quarter valued at $60,428,000. Prudential Financial Inc. grew its stake in Eagle Materials by 180.3% in the 1st quarter. Prudential Financial Inc. now owns 470,479 shares of the construction company’s stock valued at $60,390,000 after purchasing an additional 302,625 shares during the period. Alyeska Investment Group L.P. grew its stake in Eagle Materials by 3,532.8% in the 1st quarter. Alyeska Investment Group L.P. now owns 186,872 shares of the construction company’s stock valued at $27,423,000 after purchasing an additional 181,728 shares during the period. Vanguard Group Inc. grew its stake in shares of Eagle Materials by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,841,414 shares of the construction company’s stock worth $411,723,000 after acquiring an additional 110,695 shares during the period. Finally, Ancora Advisors LLC grew its stake in shares of Eagle Materials by 9,092.3% during the 1st quarter. Ancora Advisors LLC now owns 95,600 shares of the construction company’s stock worth $12,849,000 after acquiring an additional 94,560 shares during the period. 93.67% of the stock is currently owned by institutional investors.
Eagle Materials Company Profile
Eagle Materials, Inc engages in the provision of heavy construction materials and light building materials. It operates through the following segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The Cement segment deals with the manufacture, production, distribution, and sale of Portland cement.
- Get a free copy of the StockNews.com research report on Eagle Materials (EXP)
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