Vulcan Materials Company (NYSE:VMC) Shareholders to Receive $0.52 Quarterly Dividend

Vulcan Materials Company (NYSE:VMC) declared a quarterly dividend on Friday, October 9th. Stockholders of record on Monday, November 9th will be paid a dividend of $0.52 per share by the construction company on Tuesday, November 24th. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, November 9th.

Vulcan Materials has raised its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 12 years. Vulcan Materials has a payout ratio of 20.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Vulcan Materials to earn $10.15 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 20.5%.

Vulcan Materials Trading Down 0.8%

Shares of NYSE:VMC opened at $283.23 on Friday. The business has a 50 day moving average of $257.12 and a two-hundred day moving average of $280.04. Vulcan Materials has a 12-month low of $237.03 and a 12-month high of $331.09. The company has a current ratio of 1.43, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $36.35 billion, a PE ratio of 33.52, a PEG ratio of 3.00 and a beta of 0.99.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Thursday, October 29th. The construction company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.02. Vulcan Materials had a net margin of 13.77% and a return on equity of 13.03%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the company posted $2.84 earnings per share. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, analysts forecast that Vulcan Materials will post 8.89 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wall Street Zen downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. DA Davidson boosted their target price on shares of Vulcan Materials from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. JPMorgan Chase & Co. reduced their price objective on shares of Vulcan Materials from $320.00 to $300.00 and set a “neutral” rating on the stock in a report on Tuesday, October 13th. UBS Group reduced their price objective on Vulcan Materials from $349.00 to $326.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Finally, Morgan Stanley cut their price target on Vulcan Materials from $321.00 to $311.00 and set an “equal weight” rating for the company in a research note on Wednesday. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $310.72.

About Vulcan Materials