Shares of Eagle Materials Inc. fell to a three-year low on Friday as the broader building materials sector continues to feel the pinch from declines in construction demand.
Eagle Materials shares fell 90 cents, or 3.3 percent, to $25.83 after earlier trading as low as $25.80, a price not seen since 2005.
The Dallas-based company, which makes wallboard, cement and other building materials, has seen its share price decline 45 percent from a 52-week high of $52.16 last July.
Broader construction materials shares have declined in a similar fashion as demand from homebuilders and other construction companies has plummeted, due largely to the decline of the housing sector.
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