Vulcan Materials (NYSE:VMC) Plans Quarterly Dividend of $0.46

Vulcan Materials (NYSE:VMC) announced a quarterly dividend on Friday, October 11th, RTT News reports. Stockholders of record on Monday, November 4th will be given a dividend of 0.46 per share by the construction company on Wednesday, November 27th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Monday, November 4th.

Vulcan Materials has increased its dividend by an average of 8.1% per year over the last three years and has raised its dividend every year for the last 11 years. Vulcan Materials has a dividend payout ratio of 20.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Vulcan Materials to earn $8.93 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 20.6%.

Vulcan Materials Trading Down 1.3 %

NYSE VMC opened at $270.39 on Friday. The company has a market capitalization of $35.71 billion, a price-to-earnings ratio of 42.65, a price-to-earnings-growth ratio of 2.60 and a beta of 0.80. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 1.66. Vulcan Materials has a 12 month low of $206.02 and a 12 month high of $279.47. The company’s fifty day moving average price is $247.70 and its two-hundred day moving average price is $252.20.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.12). The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.29 EPS. As a group, research analysts predict that Vulcan Materials will post 7.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on VMC shares. Citigroup lowered their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Stephens dropped their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Barclays lifted their price target on shares of Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Truist Financial increased their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday. Finally, StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $274.75.

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.