Vulcan Materials (VMC) Announces Dividend Increase – $0.28 Per Share

Vulcan Materials (NYSE:VMC) announced a quarterly dividend on Friday, February 9th, RTT News reports. Stockholders of record on Friday, February 23rd will be paid a dividend of 0.28 per share by the construction company on Friday, March 9th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.90%. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.25.

Vulcan Materials has increased its dividend by an average of 65.7% annually over the last three years and has raised its dividend every year for the last 4 years. Vulcan Materials has a payout ratio of 33.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Vulcan Materials to earn $4.09 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 24.4%.

Shares of Vulcan Materials (NYSE VMC) traded up $3.53 on Friday, hitting $125.00. The stock had a trading volume of 1,308,610 shares, compared to its average volume of 1,505,333. The company has a market cap of $16,450.00, a P/E ratio of 42.66, a PEG ratio of 1.88 and a beta of 0.84. The company has a current ratio of 4.22, a quick ratio of 3.34 and a debt-to-equity ratio of 0.60. Vulcan Materials has a 12-month low of $108.95 and a 12-month high of $141.20.

A number of analysts have recently issued reports on VMC shares. Citigroup reiterated a “buy” rating and set a $144.00 price target on shares of Vulcan Materials in a research report on Tuesday, December 26th. SunTrust Banks set a $145.00 price target on Vulcan Materials and gave the company a “buy” rating in a research report on Saturday, December 16th. Zacks Investment Research upgraded Vulcan Materials from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Barclays started coverage on Vulcan Materials in a research report on Tuesday, December 12th. They set an “overweight” rating and a $135.00 price target for the company. Finally, Stephens reiterated a “buy” rating and set a $158.00 price target on shares of Vulcan Materials in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $146.13.

In related news, insider Michael R. Mills sold 4,659 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $133.25, for a total value of $620,811.75. Following the completion of the sale, the insider now owns 45,351 shares in the company, valued at approximately $6,043,020.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael R. Mills sold 3,738 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $134.56, for a total value of $502,985.28. Following the completion of the sale, the insider now owns 44,581 shares of the company’s stock, valued at approximately $5,998,819.36. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece of content was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright and trademark laws. The original version of this piece of content can be read at https://www.americanbankingnews.com/2018/02/09/vulcan-materials-vmc-announces-dividend-increase-0-28-per-share.html.

Vulcan Materials Company Profile

Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).

Dividend History for Vulcan Materials (NYSE:VMC)

Receive News & Ratings for Vulcan Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vulcan Materials and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply