Vulcan Materials (NYSE:VMC) Declares $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 0.75%. The ex-dividend date is Thursday, August 15th.

Vulcan Materials has raised its dividend by an average of 8.1% annually over the last three years and has increased its dividend every year for the last 11 years. Vulcan Materials has a payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Vulcan Materials to earn $9.51 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 19.3%.

Vulcan Materials Stock Up 0.8 %

NYSE VMC opened at $243.84 on Wednesday. The company has a market cap of $32.25 billion, a price-to-earnings ratio of 35.60, a PEG ratio of 2.19 and a beta of 0.82. The company has a current ratio of 2.48, a quick ratio of 1.66 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $251.84 and a 200-day moving average of $256.59. Vulcan Materials has a 1-year low of $190.51 and a 1-year high of $278.79.

Vulcan Materials (NYSE:VMC) last released its earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.03 billion. Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The business’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 EPS. On average, equities research analysts expect that Vulcan Materials will post 8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 1,000 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $249.50, for a total value of $249,500.00. Following the transaction, the senior vice president now directly owns 1,660 shares in the company, valued at approximately $414,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Truist Financial lowered their price objective on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Stephens reduced their price objective on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada lowered their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Loop Capital dropped their target price on shares of 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, Citigroup cut their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Vulcan Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.73.

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.