Vulcan Materials Co. (VMC) Stock Price Up 2.5% Following Dividend Announcement
Vulcan Materials Co. (NYSE:VMC) was up 2.5% during mid-day trading on Monday following a dividend announcement from the company. The company 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. Shareholders of record on Wednesday, November 23rd will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, November 21st. This represents a $0.80 dividend on an annualized basis and a yield of 0.72%. Vulcan Materials’s payout ratio is currently 30.65%.
A number of research firms have recently issued reports on VMC. Zacks Investment Research cut shares of Vulcan Materials from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 27th. Argus reissued a “buy” rating and set a $129.00 price objective on shares of Vulcan Materials in a research report on Wednesday, August 3rd. Jefferies Group reissued a “hold” rating on shares of Vulcan Materials in a research report on Wednesday, August 31st. 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 report on Tuesday, July 12th. Finally, DA Davidson reissued a “hold” rating and set a $120.00 price objective on shares of Vulcan Materials in a research report on Sunday, October 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Vulcan Materials presently has a consensus rating of “Buy” and a consensus price target of $130.89.
The stock has a 50 day moving average price of $111.01 and a 200 day moving average price of $115.09. The stock has a market capitalization of $14.85 billion, a PE ratio of 42.59 and a beta of 1.19.
Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by $0.10. Vulcan Materials had a return on equity of 8.74% and a net margin of 9.85%. The firm earned $956.80 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the firm earned $0.35 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts anticipate that Vulcan Materials Co. will post $3.23 EPS for the current year.
In other Vulcan Materials news, 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 transaction of $100,367.03. Following the sale, the insider now owns 15,185 shares of the company’s stock, valued at approximately $1,838,447.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction 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 disclosure for this sale can be found here. 0.92% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Financial Architects Inc increased its stake in 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 in the last quarter. Tredje AP fonden increased its stake in 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 in the last quarter. Carroll Financial Associates Inc. increased its stake in 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 in the last quarter. Thompson Davis & CO. Inc. increased its stake in 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 in the last quarter. Finally, Sunbelt Securities Inc. increased its stake in 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 in the last quarter. 86.65% of the stock is currently owned by institutional investors.
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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