Vulcan Materials Co. (VMC) Shares Gap Up Following Dividend Announcement
Vulcan Materials Co. (NYSE:VMC) gapped up before the market opened on Friday after the company announced a dividend. 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 traded.
The newly announced dividend which will be paid on Friday, December 9th. Investors of record on Wednesday, November 23rd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.73%. Vulcan Materials’s dividend payout ratio (DPR) is presently 30.65%.
Several equities analysts recently issued reports on VMC shares. Argus restated a “buy” rating and issued a $129.00 price target on shares of Vulcan Materials in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded Vulcan Materials from a “hold” rating to a “buy” rating and set a $129.00 price target on the stock in a research report on Wednesday, June 29th. DA Davidson restated a “hold” rating and issued a $120.00 price target on shares of Vulcan Materials in a research report on Sunday, October 9th. Jefferies Group restated a “hold” rating on shares of Vulcan Materials in a research report on Wednesday, August 31st. Finally, Royal Bank Of Canada boosted their price target on Vulcan Materials from $127.00 to $140.00 and gave the company an “outperform” rating in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $130.89.
The company has a 50 day moving average of $111.26 and a 200 day moving average of $114.88. The stock 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 EPS for the quarter, missing the consensus estimate of $1.00 by $0.10. Vulcan Materials had a return on equity of 8.74% and a net margin of 9.85%. The company had revenue of $956.80 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business posted $0.35 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts expect that Vulcan Materials Co. will post $3.23 earnings per share for the current fiscal year.
In other news, insider David J. Grayson sold 2,025 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $118.77, for a total transaction of $240,509.25. Following the transaction, the insider now owns 18,637 shares of the company’s stock, valued at $2,213,516.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stanley G. Bass sold 829 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $121.07, for a total transaction of $100,367.03. Following the transaction, the insider now directly owns 15,185 shares in the company, valued at approximately $1,838,447.95. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Caledonia Private Investments Pty Ltd boosted its position in shares of 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 raised 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 period. Adage Capital Partners GP L.L.C. raised 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 period. Geode Capital Management LLC raised 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 period. Finally, Simmons Bank acquired a new stake in Vulcan Materials during the first quarter valued at $340,000. 86.69% of the stock is currently owned by institutional investors and hedge funds.
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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