Vulcan Materials (NYSE:VMC) Announces Dividend Increase - $0.49 Per Share

Vulcan Materials (NYSE:VMC - Get Free Report) announced a quarterly dividend on Friday, February 14th,RTT News reports. Investors of record on Monday, March 10th will be given a dividend of 0.49 per share by the construction company on Monday, March 24th. This represents a $1.96 annualized dividend and a yield of 0.71%. This is a positive change from Vulcan Materials's previous quarterly dividend of $0.46.

Vulcan Materials has raised its dividend payment by an average of 7.5% annually over the last three years and has raised its dividend every year for the last 11 years. Vulcan Materials has a dividend payout ratio of 17.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Vulcan Materials to earn $8.83 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 20.8%.

Vulcan Materials Price Performance

Shares of VMC stock traded up $6.75 during mid-day trading on Tuesday, hitting $277.21. 442,514 shares of the stock were exchanged, compared to its average volume of 693,482. Vulcan Materials has a 52-week low of $225.36 and a 52-week high of $298.31. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42. The company has a market cap of $36.61 billion, a PE ratio of 43.85, a price-to-earnings-growth ratio of 2.14 and a beta of 0.84. The firm has a fifty day moving average of $267.43 and a 200 day moving average of $261.39.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.41. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. During the same quarter in the prior year, the company earned $1.46 EPS. Research analysts anticipate that Vulcan Materials will post 7.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group assumed coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They set a "buy" rating and a $349.00 price objective for the company. Raymond James decreased their price target on shares of Vulcan Materials from $298.00 to $295.00 and set an "outperform" rating on the stock in a research note on Thursday, January 16th. Truist Financial boosted their price objective on Vulcan Materials from $300.00 to $315.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Vulcan Materials from $245.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 27th. Finally, Citigroup dropped their price target on Vulcan Materials from $325.00 to $301.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Vulcan Materials has an average rating of "Moderate Buy" and an average price target of $301.18.

Vulcan Materials Company Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.