Vulcan Materials Plans Quarterly Dividend of $0.49 (NYSE:VMC)

Vulcan Materials (NYSE:VMC) announced a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Shareholders of record on Friday, May 23rd will be paid a dividend of 0.49 per share by the construction company on Friday, June 6th. This represents a $1.96 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Friday, May 23rd.

Vulcan Materials has raised its dividend payment by an average of 7.5% annually over the last three years and has increased its dividend every year for the last 12 years. Vulcan Materials has a payout ratio of 19.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Vulcan Materials to earn $9.72 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 20.2%.

Vulcan Materials Price Performance

NYSE VMC opened at $268.91 on Wednesday. The company has a market capitalization of $35.52 billion, a PE ratio of 39.26, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84. The firm’s 50 day moving average is $242.82 and its 200-day moving average is $260.37. The company has a quick ratio of 2.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.60. Vulcan Materials has a 12-month low of $215.08 and a 12-month high of $298.31.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.80 by $0.20. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the company earned $0.80 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts anticipate that Vulcan Materials will post 8.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VMC has been the topic of a number of research analyst reports. Stephens set a $315.00 price target on shares of Vulcan Materials and gave the company an “overweight” rating in a research report on Thursday, May 1st. Seaport Res Ptn upgraded shares of Vulcan Materials to a “strong-buy” rating in a research report on Friday, March 21st. UBS Group lowered Vulcan Materials from a “buy” rating to a “neutral” rating and lowered their target price for the company from $343.00 to $258.00 in a research note on Monday, April 7th. Stifel Nicolaus upped their price target on Vulcan Materials from $287.00 to $309.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised shares of Vulcan Materials from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $290.00 to $285.00 in a report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $297.45.

Institutional Trading of Vulcan Materials

A hedge fund recently bought a new stake in Vulcan Materials stock. Brighton Jones LLC purchased a new stake in Vulcan Materials (NYSE:VMC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,933 shares of the construction company’s stock, valued at approximately $497,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

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.