Key Points
- Director J. Hill sold 28,000 Vulcan Materials shares for about $7.99 million, cutting his stake by 48.1% to 30,209 shares.
- Quarterly earnings per share of $2.83 slightly beat estimates, but revenue of $2.18 billion missed expectations and fell 4.7% year over year.
- Analyst views were mixed; the stock had a “Moderate Buy” consensus rating and an average price target of $310.72.
Vulcan Materials Company (NYSE:VMC - Get Free Report) Director J. Hill sold 28,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $285.40, for a total transaction of $7,991,200.00. Following the sale, the director owned 30,209 shares of the company's stock, valued at approximately $8,621,648.60. The trade was a 48.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
J Thomas Hill also recently made the following trade(s):
- On Friday, August 21st, J. Hill sold 14,000 shares of Vulcan Materials stock. The shares were sold at an average price of $276.17, for a total value of $3,866,380.00.
Vulcan Materials Stock Performance
Shares of VMC stock opened at $285.47 on Friday. The stock has a market capitalization of $36.64 billion, a P/E ratio of 33.78, a PEG ratio of 3.08 and a beta of 0.99. 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 firm's 50 day moving average is $256.93 and its 200 day moving average is $280.10. Vulcan Materials Company has a 12 month low of $237.03 and a 12 month high of $331.09.
Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The construction company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.02. The firm had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.24 billion. Vulcan Materials had a return on equity of 13.03% and a net margin of 13.77%. The company's revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.84 earnings per share. On average, sell-side analysts anticipate that Vulcan Materials Company will post 8.89 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 24th. Investors of record on Monday, November 9th will be given a $0.52 dividend. The ex-dividend date is Monday, November 9th. This represents a $2.08 annualized dividend and a yield of 0.7%. Vulcan Materials's payout ratio is 24.62%.
Hedge Funds Weigh In On Vulcan Materials
A number of large investors have recently bought and sold shares of VMC. Bfsg LLC boosted its stake in shares of Vulcan Materials by 0.8% during the third quarter. Bfsg LLC now owns 13,491 shares of the construction company's stock valued at $3,300,000 after purchasing an additional 110 shares during the period. Chicago Partners Investment Group LLC grew its holdings in shares of Vulcan Materials by 7.5% in the third quarter. Chicago Partners Investment Group LLC now owns 1,756 shares of the construction company's stock worth $460,000 after purchasing an additional 122 shares during the last quarter. Ascent Group LLC increased its stake in shares of Vulcan Materials by 6.9% in the third quarter. Ascent Group LLC now owns 1,967 shares of the construction company's stock worth $481,000 after buying an additional 127 shares during the period. Markel Group Inc. purchased a new position in shares of Vulcan Materials in the third quarter worth $234,000. Finally, Farrow Financial Inc. increased its stake in shares of Vulcan Materials by 1.3% in the third quarter. Farrow Financial Inc. now owns 8,697 shares of the construction company's stock worth $2,128,000 after buying an additional 115 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.
Key Headlines Impacting Vulcan Materials
Here are the key news stories impacting Vulcan Materials this week:
- Positive Sentiment: Stephens analyst commentary expects VMC shares to rise, providing a bullish counterpoint. Vulcan Materials Stock Price Expected to Rise, Stephens Analyst Says
- Positive Sentiment: B. Riley Financial forecast strong price appreciation for Vulcan Materials, another positive analyst view. B. Riley Financial Forecasts Strong Price Appreciation for Vulcan Materials
- Negative Sentiment: Director J. Hill sold 28,000 shares for about $7.99 million, reducing his position by 48.1% to 30,209 shares. Investors may view the substantial insider sale as a cautionary signal, though the filing does not state the reason for the transaction. Vulcan Materials Insider Sold Shares Worth $7,991,224
- Negative Sentiment: Morgan Stanley lowered its price target from $321 to $311 and maintained an “equal weight” rating. The reduced target may weigh on sentiment, despite still indicating potential upside from the cited share price. Morgan Stanley stock recommendations
Analyst Ratings Changes
A number of research analysts have commented on the stock. BNP Paribas Exane reduced their price target on shares of Vulcan Materials from $290.00 to $281.00 and set a "neutral" rating on the stock in a research report on Friday, October 30th. JPMorgan Chase & Co. cut their price objective on shares of Vulcan Materials from $320.00 to $300.00 and set a "neutral" rating for the company in a research note on Tuesday, October 13th. B. Riley Financial upped their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a "buy" rating in a research note on Monday. Wall Street Zen lowered shares of Vulcan Materials from a "hold" rating to a "sell" rating in a report on Saturday, September 12th. Finally, Stifel Nicolaus decreased their target price on shares of Vulcan Materials from $333.00 to $320.00 and set a "buy" rating on the stock in a research report on Wednesday, October 28th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $310.72.
Check Out Our Latest Report on Vulcan Materials
Vulcan Materials Company Profile
(
Get Free Report)
Vulcan Materials Company (NYSE: VMC) is a producer and distributor of construction materials used in infrastructure, commercial, residential and industrial projects. The company is the largest producer of construction aggregates in the United States, including crushed stone, sand and gravel.
In addition to aggregates, Vulcan Materials produces asphalt mix, ready-mixed concrete and cement. Its materials are used in roads, bridges, airports, commercial buildings, homes and other construction applications.
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