Vulcan Materials (NYSE:VMC) to Issue $0.46 Quarterly Dividend

Vulcan Materials (NYSE:VMCGet Free Report) announced a quarterly dividend on Friday, May 10th, RTT News reports. Investors of record on Friday, May 24th will be given a dividend of 0.46 per share by the construction company on Friday, June 7th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, May 23rd.

Vulcan Materials has raised its dividend by an average of 8.1% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. Vulcan Materials has a dividend payout ratio of 18.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Vulcan Materials to earn $9.74 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 18.9%.

Vulcan Materials Stock Up 0.7 %

VMC stock opened at $262.13 on Wednesday. The company has a market capitalization of $34.67 billion, a P/E ratio of 38.27, a price-to-earnings-growth ratio of 1.94 and a beta of 0.83. Vulcan Materials has a 12 month low of $190.51 and a 12 month high of $276.58. The firm’s fifty day simple moving average is $265.58 and its 200-day simple moving average is $242.34. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.81.

Vulcan Materials (NYSE:VMCGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.11). The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Vulcan Materials had a net margin of 11.92% and a return on equity of 12.32%. Vulcan Materials’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 earnings per share. As a group, equities research analysts forecast that Vulcan Materials will post 8.53 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on VMC. Citigroup raised their target price on Vulcan Materials from $263.00 to $322.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Royal Bank of Canada lifted their target price on shares of Vulcan Materials from $269.00 to $272.00 and gave the company a “sector perform” rating in a report on Friday, May 3rd. Wolfe Research cut shares of Vulcan Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. JPMorgan Chase & Co. restated a “neutral” rating and set a $270.00 price target (up previously from $245.00) on shares of Vulcan Materials in a research report on Friday, March 22nd. Finally, Stephens upped their price objective on shares of Vulcan Materials from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Vulcan Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.08.

View Our Latest Stock Report on Vulcan Materials

Insider Buying and Selling

In other Vulcan Materials news, President Thompson S. Baker II sold 8,600 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $272.95, for a total value of $2,347,370.00. Following the transaction, the president now owns 1,300 shares in the company, valued at approximately $354,835. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Vulcan Materials news, President Thompson S. Baker II sold 8,600 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $272.95, for a total value of $2,347,370.00. Following the completion of the sale, the president now owns 1,300 shares in the company, valued at approximately $354,835. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Randy L. Pigg sold 307 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.27, for a total transaction of $78,367.89. Following the completion of the transaction, the vice president now directly owns 1,896 shares in the company, valued at $483,991.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,917 shares of company stock worth $5,402,800. Insiders own 0.61% of the company’s stock.

Vulcan Materials Company Profile

(Get Free Report)

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in 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.

See Also

Dividend History for Vulcan Materials (NYSE:VMC)

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