Vulcan Materials Co. (VMC) Stock Price Up 2.5% Following Dividend Announcement
Shares of Vulcan Materials Co. (NYSE:VMC) shot up 2.5% during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as $112.65 and last traded at $112.49, with a volume of 781,575 shares changing hands. The stock had previously closed at $109.77.
The newly announced dividend which will be paid on Friday, December 9th. Stockholders of record on Wednesday, November 23rd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.73%. Vulcan Materials’s payout ratio is presently 30.65%.
A number of brokerages have recently issued reports on VMC. DA Davidson reaffirmed a “hold” rating and set a $120.00 price target on shares of Vulcan Materials in a report on Sunday, October 9th. Royal Bank Of Canada raised their price target on shares of Vulcan Materials from $127.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday, July 12th. Zacks Investment Research raised shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $129.00 price target on the stock in a report on Wednesday, June 29th. Jefferies Group reaffirmed a “hold” rating on shares of Vulcan Materials in a report on Wednesday, August 31st. Finally, Argus reaffirmed a “buy” rating and set a $129.00 price target on shares of Vulcan Materials in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $130.89.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/17/vulcan-materials-co-vmc-stock-price-up-2-5-following-dividend-announcement.html
The company has a 50 day moving average price of $111.26 and a 200-day moving average price of $114.88. The stock has a market cap of $14.95 billion, a P/E ratio of 42.87 and a beta of 1.19.
Vulcan Materials (NYSE:VMC) last announced its earnings results on Monday, August 1st. The company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.10. The firm earned $956.80 million during the quarter, compared to the consensus estimate of $1.01 billion. Vulcan Materials had a return on equity of 8.74% and a net margin of 9.85%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 earnings per share. On average, equities analysts forecast that Vulcan Materials Co. will post $3.23 earnings per share for the current year.
In other Vulcan Materials news, insider Stanley G. Bass sold 829 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $121.07, for a total value of $100,367.03. Following the completion of the transaction, the insider now directly owns 15,185 shares in the company, valued at $1,838,447.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David B. Pasley sold 280 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $117.55, for a total transaction of $32,914.00. Following the completion of the transaction, the insider now owns 2,470 shares of the company’s stock, valued at $290,348.50. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in VMC. Webster Bank N. A. bought a new position in Vulcan Materials during the third quarter valued at about $1,397,000. Pennsylvania Trust Co bought a new position in Vulcan Materials during the third quarter valued at about $3,586,000. National Pension Service increased its position in Vulcan Materials by 8.2% in the third quarter. National Pension Service now owns 111,816 shares of the company’s stock valued at $12,717,000 after buying an additional 8,520 shares during the period. MSI Financial Services Inc increased its position in Vulcan Materials by 8.6% in the third quarter. MSI Financial Services Inc now owns 1,746 shares of the company’s stock valued at $199,000 after buying an additional 139 shares during the period. Finally, Capstone Asset Management Co. increased its position in Vulcan Materials by 4.1% in the third quarter. Capstone Asset Management Co. now owns 19,861 shares of the company’s stock valued at $2,259,000 after buying an additional 780 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.
About Vulcan Materials
Vulcan Materials Company is a producer of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company has four segments organized around its principal product lines: Aggregates, Asphalt Mix, Concrete and Calcium. The Company operates approximately 344 aggregates facilities.
Receive News & Ratings for Vulcan Materials Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vulcan Materials Co. and related companies with MarketBeat.com's FREE daily email newsletter.