Vulcan Materials (NYSE:VMC) Plans $0.46 Quarterly Dividend

Vulcan Materials (NYSE:VMC) declared a quarterly dividend on Friday, July 12th, RTT News reports. Stockholders of record on Thursday, August 15th will be given a dividend of 0.46 per share by the construction company on Wednesday, September 4th. This represents a $1.84 annualized dividend and a dividend yield of 0.73%.

Vulcan Materials has raised its dividend by an average of 8.1% annually over the last three years. Vulcan Materials has a payout ratio of 18.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Vulcan Materials to earn $9.77 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 18.8%.

Vulcan Materials Stock Performance

VMC opened at $252.51 on Friday. Vulcan Materials has a 52-week low of $190.51 and a 52-week high of $276.58. The company has a quick ratio of 1.81, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. The company has a market cap of $33.39 billion, a P/E ratio of 36.86, a price-to-earnings-growth ratio of 1.90 and a beta of 0.82. The firm’s 50-day moving average price is $254.06 and its 200-day moving average price is $251.35.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.11). Vulcan Materials had a net margin of 11.92% and a return on equity of 12.32%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the company earned $0.95 EPS. The business’s revenue was down 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that Vulcan Materials will post 8.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Royal Bank of Canada upped their target price on Vulcan Materials from $269.00 to $272.00 and gave the company a “sector perform” rating in a research report on Friday, May 3rd. Jefferies Financial Group upped their target price on Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Stephens upped their target price on Vulcan Materials from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Loop Capital dropped their target price on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $270.00 target price (up previously from $245.00) on shares of Vulcan Materials in a research report on Friday, March 22nd. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $277.08.

Insider Activity

In other news, SVP David P. Clement sold 1,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $249.50, for a total transaction of $249,500.00. Following the transaction, the senior vice president now owns 1,660 shares in the company, valued at approximately $414,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP David P. Clement sold 1,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $249.50, for a total value of $249,500.00. Following the completion of the transaction, the senior vice president now directly owns 1,660 shares of the company’s stock, valued at approximately $414,170. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Thompson S. Baker II sold 6,610 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $272.64, for a total value of $1,802,150.40. Following the completion of the transaction, the president now directly owns 4,784 shares of the company’s stock, valued at $1,304,309.76. The disclosure for this sale can be found here. Insiders have sold 17,210 shares of company stock worth $4,653,520 in the last quarter. Corporate insiders own 0.62% of the company’s stock.

About Vulcan Materials

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.