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

Vulcan Materials (NYSE:VMC) announced a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Friday, May 23rd.

Vulcan Materials has raised its dividend by an average of 7.5% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Vulcan Materials has a payout ratio of 19.8% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Up 0.3%

Shares of VMC traded up $0.93 during midday trading on Tuesday, reaching $273.29. 27,003 shares of the company were exchanged, compared to its average volume of 935,640. The stock has a 50-day moving average price of $242.14 and a 200-day moving average price of $260.31. The company has a market cap of $36.10 billion, a price-to-earnings ratio of 39.86, a P/E/G ratio of 2.03 and a beta of 0.84. Vulcan Materials has a 1-year low of $215.08 and a 1-year high of $298.31. The company has a current ratio of 1.83, a quick ratio of 2.02 and a debt-to-equity ratio of 0.60.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.20. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 EPS. Research analysts expect that Vulcan Materials will post 8.69 earnings per share for the current year.

Institutional Investors Weigh In On Vulcan Materials

A hedge fund recently bought a new stake in Vulcan Materials stock. Brighton Jones LLC acquired a new position in shares of Vulcan Materials (NYSE:VMC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 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.

Analysts Set New Price Targets

VMC has been the subject of several recent research reports. Argus upgraded Vulcan Materials to a “strong-buy” rating in a report on Thursday, April 24th. Royal Bank of Canada raised their price objective on shares of Vulcan Materials from $269.00 to $286.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 19th. Morgan Stanley raised their price objective on shares of Vulcan Materials from $273.00 to $303.00 and gave the company an “equal weight” rating in a research note on Monday. Stephens set a $315.00 price objective on shares of Vulcan Materials and gave the stock an “overweight” rating in a report on Thursday, May 1st. Finally, Seaport Res Ptn raised shares of Vulcan Materials to a “strong-buy” rating in a research report on Friday, March 21st. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Vulcan Materials has a consensus rating of “Moderate Buy” and a consensus target price of $297.45.

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.