Vulcan Materials Co. (VMC) Shares Gap Up Following Dividend Announcement
Vulcan Materials Co. (NYSE:VMC) shares gapped up before the market opened 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 trading hands.
The newly announced dividend which will be paid on Friday, December 9th. Investors of record on Wednesday, November 23rd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.73%. Vulcan Materials’s dividend payout ratio (DPR) is 30.65%.
Several equities research analysts recently weighed in on VMC shares. Zacks Investment Research lowered shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Royal Bank Of Canada increased their price objective on shares of Vulcan Materials from $127.00 to $140.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 12th. DA Davidson reiterated a “hold” rating and set a $120.00 price objective on shares of Vulcan Materials in a research note on Sunday, October 9th. Jefferies Group reiterated a “hold” rating on shares of Vulcan Materials in a research note on Wednesday, August 31st. Finally, Argus reiterated a “buy” rating and set a $129.00 price objective on shares of Vulcan Materials in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $130.89.
The company has a market cap of $14.61 billion, a price-to-earnings ratio of 41.88 and a beta of 1.19. The company’s 50-day moving average price is $111.26 and its 200-day moving average price is $114.88.
Vulcan Materials (NYSE:VMC) last posted 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 analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. Equities research analysts expect that Vulcan Materials Co. will post $3.23 EPS for the current fiscal year.
In other Vulcan Materials news, insider David J. Grayson sold 2,025 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 18,637 shares in the company, valued at approximately $2,213,516.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stanley G. Bass sold 829 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $121.07, for a total transaction of $100,367.03. Following the completion of the sale, the insider now owns 15,185 shares in the company, valued at $1,838,447.95. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Financial Architects Inc raised its stake 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 valued at $122,000 after buying an additional 939 shares during the period. Tredje AP fonden raised its stake 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 valued at $152,000 after buying an additional 800 shares during the period. Carroll Financial Associates Inc. raised its stake 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 valued at $161,000 after buying an additional 410 shares during the period. Thompson Davis & CO. Inc. raised its stake 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 valued at $176,000 after buying an additional 1,420 shares during the period. Finally, Sunbelt Securities Inc. raised its stake 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 valued at $184,000 after buying an additional 984 shares during the period. 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.
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