Vulcan Materials Co. (NYSE:VMC) shares gapped up prior to trading on Friday following a dividend announcement from the company. The stock had previously closed at $108.38, but opened at $108.77. Vulcan Materials shares last traded at $109.79, with a volume of 520,705 shares.
The newly announced dividend which will be paid on Friday, December 9th. Investors 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 yield of 0.73%. Vulcan Materials’s dividend payout ratio is 30.65%.
A number of equities research analysts recently weighed in on the company. Bank of America Corp. reaffirmed a “buy” rating on shares of Vulcan Materials in a report on Friday, June 17th. Zacks Investment Research raised Vulcan Materials from a “hold” rating to a “buy” rating and set a $129.00 price target for the company in a report on Wednesday, June 29th. Argus reaffirmed a “buy” rating and set a $129.00 price target on shares of Vulcan Materials in a report on Wednesday, August 3rd. Jefferies Group reaffirmed a “hold” rating on shares of Vulcan Materials in a report on Wednesday, August 31st. Finally, 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. One equities 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 stock. Vulcan Materials has an average rating of “Buy” and a consensus price target of $130.89.
The stock has a 50-day moving average of $111.26 and a 200-day moving average of $114.88. The company has a market cap of $14.61 billion, a price-to-earnings ratio of 41.88 and a beta of 1.19.
Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by $0.10. The company earned $956.80 million during the quarter, compared to the consensus estimate of $1.01 billion. Vulcan Materials had a net margin of 9.85% and a return on equity of 8.74%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 earnings per share. Equities research analysts anticipate that Vulcan Materials Co. will post $3.23 earnings per share for the current fiscal year.
In related news, insider David B. Pasley sold 280 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $117.55, for a total value of $32,914.00. Following the completion of the sale, the insider now directly owns 2,470 shares in the company, valued at $290,348.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider David J. Grayson sold 2,025 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $118.77, for a total value of $240,509.25. Following the completion of the sale, the insider now owns 18,637 shares of the company’s stock, valued at $2,213,516.49. The disclosure for this sale can be found here. 0.92% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Caledonia Private Investments Pty Ltd boosted its stake in Vulcan Materials by 19.3% in the first quarter. Caledonia Private Investments Pty Ltd now owns 753,253 shares of the company’s stock valued at $79,521,000 after buying an additional 121,944 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Vulcan Materials by 0.8% in the second quarter. New York State Teachers Retirement System now owns 230,609 shares of the company’s stock valued at $27,756,000 after buying an additional 1,901 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Vulcan Materials by 51.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 296,158 shares of the company’s stock valued at $31,265,000 after buying an additional 100,300 shares during the last quarter. Geode Capital Management LLC boosted its stake in Vulcan Materials by 2.1% in the first quarter. Geode Capital Management LLC now owns 1,078,909 shares of the company’s stock valued at $113,670,000 after buying an additional 22,325 shares during the last quarter. Finally, Simmons Bank acquired a new stake in Vulcan Materials during the first quarter valued at $340,000. Hedge funds and other institutional investors own 86.69% 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.