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

Vulcan Materials (NYSE:VMC) 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 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, May 23rd.

Vulcan Materials has raised its dividend payment by an average of 8.1% per year over the last three years and has raised its dividend annually for the last 10 consecutive years. Vulcan Materials has a payout ratio of 18.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of VMC stock opened at $262.13 on Wednesday. Vulcan Materials has a 52 week low of $190.51 and a 52 week high of $276.58. The business has a 50 day moving average of $265.58 and a two-hundred day moving average of $242.34. 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 $34.67 billion, a P/E ratio of 38.27, a PEG ratio of 1.94 and a beta of 0.83.

Vulcan Materials (NYSE:VMC) last released its 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 company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.50 billion. Vulcan Materials had a net margin of 11.92% and a return on equity of 12.32%. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 EPS. As a group, analysts anticipate that Vulcan Materials will post 8.53 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on VMC. Royal Bank of Canada upped their target price on Vulcan Materials from $269.00 to $272.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. Truist Financial raised their target price on Vulcan Materials from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $270.00 price target (up from $245.00) on shares of Vulcan Materials in a research report on Friday, March 22nd. Citigroup raised their price objective on shares of Vulcan Materials from $263.00 to $322.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Stephens boosted their target price on shares of Vulcan Materials from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.08.

Insider Activity at Vulcan Materials

In other news, SVP Denson N. Franklin III sold 3,200 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $269.48, for a total value of $862,336.00. Following the completion of the sale, the senior vice president now owns 5,395 shares of the company’s stock, valued at $1,453,844.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Vulcan Materials news, VP Randy L. Pigg sold 307 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.27, for a total value of $78,367.89. Following the completion of the sale, the vice president now owns 1,896 shares in the company, valued at approximately $483,991.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Denson N. Franklin III sold 3,200 shares of Vulcan Materials stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total transaction of $862,336.00. Following the sale, the senior vice president now directly owns 5,395 shares of the company’s stock, valued at approximately $1,453,844.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,917 shares of company stock worth $5,402,800. 0.61% of the stock is owned by corporate insiders.

Vulcan Materials Company Profile

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.