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

Vulcan Materials Company (NYSE:VMC - Get Free Report) announced a quarterly dividend on Friday, July 11th, RTT News reports. Shareholders of record on Thursday, August 14th will be given a dividend of 0.49 per share by the construction company on Wednesday, September 3rd. This represents a $1.96 annualized dividend and a yield of 0.73%.

Vulcan Materials has a dividend payout ratio of 19.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.8%

Shares of NYSE:VMC traded down $2.13 during midday trading on Friday, hitting $268.60. 1,101,620 shares of the stock traded hands, compared to its average volume of 984,555. The stock has a market capitalization of $35.48 billion, a PE ratio of 38.10, a P/E/G ratio of 2.41 and a beta of 0.82. The business's 50 day moving average is $265.68 and its two-hundred day moving average is $256.40. The company has a quick ratio of 1.51, a current ratio of 2.42 and a debt-to-equity ratio of 0.60. Vulcan Materials has a one year low of $215.08 and a one year high of $298.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued 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. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. Vulcan Materials had a net margin of 12.50% and a return on equity of 12.91%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 earnings per share. As a group, research analysts forecast that Vulcan Materials will post 8.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP David P. Clement sold 1,500 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $270.00, for a total transaction of $405,000.00. Following the completion of the transaction, the senior vice president directly owned 2,832 shares of the company's stock, valued at approximately $764,640. This trade represents a 34.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.62% of the company's stock.

Hedge Funds Weigh In On Vulcan Materials

A number of institutional investors and hedge funds have recently made changes to their positions in VMC. Geneos Wealth Management Inc. lifted its holdings in Vulcan Materials by 31.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 334 shares of the construction company's stock valued at $78,000 after buying an additional 80 shares in the last quarter. Brighton Jones LLC bought a new position in shares of Vulcan Materials during the 4th quarter worth approximately $497,000. Empowered Funds LLC raised its stake in shares of Vulcan Materials by 6.3% during the 1st quarter. Empowered Funds LLC now owns 3,195 shares of the construction company's stock worth $745,000 after acquiring an additional 190 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Vulcan Materials by 28.5% during the 1st quarter. Focus Partners Wealth now owns 3,321 shares of the construction company's stock worth $775,000 after acquiring an additional 736 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Vulcan Materials by 3.9% during the 1st quarter. NewEdge Advisors LLC now owns 4,359 shares of the construction company's stock worth $1,017,000 after acquiring an additional 163 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on VMC. Seaport Res Ptn upgraded shares of Vulcan Materials to a "strong-buy" rating in a report on Friday, March 21st. Loop Capital cut their price target on shares of Vulcan Materials from $325.00 to $320.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Stifel Nicolaus increased their price target on shares of Vulcan Materials from $287.00 to $309.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Raymond James Financial cut their price target on shares of Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Finally, Morgan Stanley increased their price target on shares of Vulcan Materials from $273.00 to $303.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $302.91.

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.

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