Vulcan Materials (NYSE:VMC) declared a quarterly dividend on Friday, February 14th, RTT News reports. Investors of record on Wednesday, February 26th will be given a dividend of 0.34 per share by the construction company on Tuesday, March 10th. This represents a $1.36 annualized dividend and a yield of 0.93%. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.31.
Vulcan Materials has raised its dividend payment by an average of 7.4% annually over the last three years and has increased its dividend every year for the last 6 years. Vulcan Materials has a payout ratio of 21.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Vulcan Materials to earn $5.70 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 21.8%.
Vulcan Materials stock traded up $1.66 during midday trading on Friday, hitting $146.74. 34,194 shares of the stock were exchanged, compared to its average volume of 864,577. The company has a fifty day simple moving average of $142.77 and a two-hundred day simple moving average of $143.04. Vulcan Materials has a 52 week low of $109.19 and a 52 week high of $152.49. The stock has a market capitalization of $19.36 billion, a PE ratio of 32.59, a P/E/G ratio of 1.40 and a beta of 0.93. The company has a quick ratio of 1.67, a current ratio of 2.47 and a debt-to-equity ratio of 0.57.
In related news, insider Fehlberg Barry 1,000,000 shares of the stock in a transaction on Tuesday, November 26th. Also, VP Randy L. Pigg sold 643 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $140.64, for a total transaction of $90,431.52. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.
Several research firms recently weighed in on VMC. Citigroup began coverage on shares of Vulcan Materials in a research note on Tuesday, December 17th. They set a “buy” rating and a $173.00 price objective on the stock. Loop Capital began coverage on shares of Vulcan Materials in a research note on Thursday, December 19th. They set a “hold” rating and a $156.00 price objective on the stock. ValuEngine lowered shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, December 11th. Vertical Research began coverage on shares of Vulcan Materials in a research note on Tuesday, October 22nd. They set a “hold” rating and a $160.00 price objective on the stock. Finally, Deutsche Bank began coverage on shares of Vulcan Materials in a research note on Friday, January 3rd. They set a “buy” rating and a $116.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $152.76.
Vulcan Materials Company Profile
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.
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