Vulcan Materials (NYSE:VMC) Plans $0.40 Quarterly Dividend

Vulcan Materials (NYSE:VMCGet Rating) declared a quarterly dividend on Friday, May 13th, RTT News reports. Investors of record on Friday, May 27th will be given a dividend of 0.40 per share by the construction company on Friday, June 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.95%.

Vulcan Materials has raised its dividend payment by an average of 9.7% annually over the last three years and has increased its dividend every year for the last 9 years. Vulcan Materials has a payout ratio of 20.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Vulcan Materials to earn $8.14 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 19.7%.

NYSE:VMC opened at $168.02 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.27 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $22.33 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 1.17 and a beta of 0.70. The firm’s fifty day simple moving average is $177.16 and its 200 day simple moving average is $188.52. Vulcan Materials has a twelve month low of $156.53 and a twelve month high of $213.65.

Vulcan Materials (NYSE:VMCGet Rating) last released its earnings results on Wednesday, May 4th. The construction company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.11. Vulcan Materials had a net margin of 9.99% and a return on equity of 10.49%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the firm earned $0.69 EPS. The company’s revenue was up 44.2% on a year-over-year basis. On average, analysts predict that Vulcan Materials will post 6.32 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Carroll Investors Inc bought a new position in Vulcan Materials during the fourth quarter worth $32,000. Covington Capital Management boosted its position in shares of Vulcan Materials by 48.0% in the fourth quarter. Covington Capital Management now owns 185 shares of the construction company’s stock valued at $38,000 after acquiring an additional 60 shares during the period. Zullo Investment Group Inc. bought a new stake in Vulcan Materials during the fourth quarter worth about $72,000. NEXT Financial Group Inc lifted its position in Vulcan Materials by 138.9% during the fourth quarter. NEXT Financial Group Inc now owns 442 shares of the construction company’s stock worth $92,000 after purchasing an additional 257 shares during the period. Finally, Cypress Capital Group acquired a new position in Vulcan Materials during the fourth quarter worth about $209,000. 88.38% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Vulcan Materials from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, February 22nd. Morgan Stanley dropped their price objective on shares of Vulcan Materials from $232.00 to $224.00 and set an “equal weight” rating on the stock in a research note on Monday, April 18th. StockNews.com initiated coverage on shares of Vulcan Materials in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Citigroup dropped their price target on shares of Vulcan Materials from $231.00 to $224.00 in a research note on Friday, February 18th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $211.93.

About Vulcan Materials (Get Rating)

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 Aggregates segment 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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