Key Points
- Insider sale: President Thompson Baker II sold 5,818 shares on November 4 at an average price of $292.26, for about $1.70 million, according to an SEC filing.
- Strong quarterly results: Vulcan reported Q3 EPS of $2.84 versus $2.72 expected and revenue of $2.29 billion (up 14.4% YoY), and analysts hold a consensus "Moderate Buy" with a target around $317.58.
- Dividend announced: The company declared a $0.49 quarterly dividend (annualized $1.96, yield 0.7%), with an ex-dividend/record date of November 10 and payment on November 25.
Vulcan Materials Company (NYSE:VMC - Get Free Report) President Thompson Baker II sold 5,818 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $292.26, for a total transaction of $1,700,368.68. The transaction was disclosed in a filing with the SEC, which is available through this link.
Vulcan Materials Trading Up 0.4%
NYSE:VMC opened at $286.30 on Friday. Vulcan Materials Company has a 12 month low of $215.08 and a 12 month high of $311.74. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The firm's 50 day moving average is $296.31 and its 200 day moving average is $278.66. The stock has a market capitalization of $37.83 billion, a PE ratio of 39.99, a price-to-earnings-growth ratio of 2.39 and a beta of 0.95.
Vulcan Materials (NYSE:VMC - Get Free Report) last released its earnings results on Thursday, October 30th. The construction company reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.72 by $0.12. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The business's revenue for the quarter was up 14.4% on a year-over-year basis. During the same period last year, the business posted $2.22 earnings per share. Sell-side analysts expect that Vulcan Materials Company will post 8.69 earnings per share for the current year.
Vulcan Materials Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Monday, November 10th will be paid a $0.49 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.96 annualized dividend and a yield of 0.7%. Vulcan Materials's dividend payout ratio (DPR) is currently 23.28%.
Analysts Set New Price Targets
VMC has been the topic of several analyst reports. Wells Fargo & Company upgraded Vulcan Materials to a "hold" rating in a research report on Wednesday, October 8th. DA Davidson increased their target price on shares of Vulcan Materials from $315.00 to $330.00 and gave the stock a "buy" rating in a research note on Tuesday. Barclays raised their price target on shares of Vulcan Materials from $305.00 to $320.00 and gave the company an "overweight" rating in a report on Monday, October 20th. Citigroup lowered their price objective on Vulcan Materials from $356.00 to $342.00 and set a "buy" rating on the stock in a research report on Monday. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Vulcan Materials in a research note on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $317.58.
View Our Latest Analysis on Vulcan Materials
Institutional Investors Weigh In On Vulcan Materials
Several hedge funds have recently added to or reduced their stakes in VMC. Unified Investment Management raised its holdings in shares of Vulcan Materials by 1.7% during the 2nd quarter. Unified Investment Management now owns 2,259 shares of the construction company's stock valued at $589,000 after buying an additional 38 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of Vulcan Materials by 6.2% during the second quarter. Rosenberg Matthew Hamilton now owns 648 shares of the construction company's stock valued at $169,000 after buying an additional 38 shares during the last quarter. Fulton Bank N.A. grew its stake in shares of Vulcan Materials by 4.1% during the third quarter. Fulton Bank N.A. now owns 960 shares of the construction company's stock valued at $295,000 after buying an additional 38 shares during the last quarter. Harfst & Associates Inc. increased its holdings in shares of Vulcan Materials by 0.6% in the third quarter. Harfst & Associates Inc. now owns 6,416 shares of the construction company's stock worth $1,974,000 after buying an additional 38 shares during the period. Finally, Manchester Capital Management LLC lifted its stake in shares of Vulcan Materials by 26.9% in the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock valued at $43,000 after acquiring an additional 39 shares during the last quarter. Institutional investors own 90.39% of the company's stock.
Vulcan Materials Company Profile
(
Get Free Report)
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.
Further Reading
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