Shares of Vulcan Materials Co. (NYSE:VMC) were up 2.5% during mid-day trading on Monday after the company announced a dividend. The stock traded as high as $112.65 and last traded at $112.49, with a volume of 781,575 shares. The stock had previously closed at $109.77.
The newly announced dividend which will be paid on Friday, December 9th. Investors of record on Wednesday, November 23rd will be paid a $0.20 dividend. The ex-dividend date is Monday, November 21st. This represents a $0.80 annualized dividend and a dividend yield of 0.71%. Vulcan Materials’s dividend payout ratio is presently 30.65%.
Several equities analysts recently weighed in on VMC shares. Zacks Investment Research lowered Vulcan Materials from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Argus restated a “buy” rating and issued a $129.00 price target on shares of Vulcan Materials in a research note on Wednesday, August 3rd. Jefferies Group restated a “hold” rating on shares of Vulcan Materials in a research note on Wednesday, August 31st. Royal Bank Of Canada lifted their price target on Vulcan Materials from $127.00 to $140.00 and gave the company an “outperform” rating in a research note on Tuesday, July 12th. Finally, DA Davidson restated a “hold” rating and issued a $120.00 price target on shares of Vulcan Materials in a research note on Sunday, October 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $130.89.
The stock’s 50 day moving average price is $111.16 and its 200-day moving average price is $115.06. The company has a market capitalization of $14.98 billion, a price-to-earnings ratio of 42.96 and a beta of 1.19.
Vulcan Materials (NYSE:VMC) last released its earnings results on Monday, August 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.10. The company earned $956.80 million during the quarter, compared to analyst estimates of $1.01 billion. Vulcan Materials had a net margin of 9.85% and a return on equity of 8.74%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 EPS. Equities research analysts predict that Vulcan Materials Co. will post $3.23 EPS for the current fiscal year.
In other news, insider David J. Grayson sold 2,025 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $118.77, for a total value of $240,509.25. Following the transaction, the insider now owns 18,637 shares of the company’s stock, valued at $2,213,516.49. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stanley G. Bass sold 829 shares of the business’s stock in a transaction that occurred on 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 approximately $1,838,447.95. The disclosure for this sale can be found here. 0.92% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Architects Inc raised its position in shares of Vulcan Materials by 1,268.9% in the second quarter. Financial Architects Inc now owns 1,013 shares of the company’s stock worth $122,000 after buying an additional 939 shares in the last quarter. Tredje AP fonden raised its position in shares of Vulcan Materials by 173.9% in the second quarter. Tredje AP fonden now owns 1,260 shares of the company’s stock worth $152,000 after buying an additional 800 shares in the last quarter. Carroll Financial Associates Inc. raised its position in shares of Vulcan Materials by 40.8% in the third quarter. Carroll Financial Associates Inc. now owns 1,416 shares of the company’s stock worth $161,000 after buying an additional 410 shares in the last quarter. Thompson Davis & CO. Inc. raised its position in shares of Vulcan Materials by 3,155.6% in the second quarter. Thompson Davis & CO. Inc. now owns 1,465 shares of the company’s stock worth $176,000 after buying an additional 1,420 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its position in shares of Vulcan Materials by 179.9% in the second quarter. Sunbelt Securities Inc. now owns 1,531 shares of the company’s stock worth $184,000 after buying an additional 984 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.
Vulcan Materials Company Profile
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.