Vulcan Materials (NYSE:VMC) declared a quarterly dividend on Monday, February 11th, Wall Street Journal reports. Investors of record on Friday, February 22nd will be given a dividend of 0.31 per share by the construction company on Friday, March 8th. This represents a $1.24 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, February 21st. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.28.
Vulcan Materials has increased its dividend by an average of 40.9% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Vulcan Materials has a dividend payout ratio of 26.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Vulcan Materials to earn $4.81 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 23.3%.
VMC traded up $2.14 on Monday, hitting $105.61. The company’s stock had a trading volume of 1,987,423 shares, compared to its average volume of 1,183,440. The company has a market cap of $13.91 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. Vulcan Materials has a 12 month low of $82.52 and a 12 month high of $134.44. The company has a current ratio of 1.70, a quick ratio of 1.11 and a debt-to-equity ratio of 0.54.
Several research firms recently commented on VMC. Zacks Investment Research raised shares of Vulcan Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 18th. TheStreet raised shares of Vulcan Materials from a “c+” rating to a “b-” rating in a report on Friday, February 1st. Citigroup cut their price objective on shares of Vulcan Materials from $128.00 to $120.00 and set a “buy” rating for the company in a report on Friday, January 4th. Deutsche Bank began coverage on shares of Vulcan Materials in a report on Thursday, January 3rd. They issued a “buy” rating and a $116.00 price objective for the company. Finally, Nomura raised shares of Vulcan Materials from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $140.00 in a report on Thursday, December 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $121.73.
Vulcan Materials Company Profile
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the 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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