Vulcan Materials Co. (VMC) Hits New 12-Month High at $127.20
Vulcan Materials Co. (NYSE:VMC) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $127.20 and last traded at $126.94, with a volume of 549,735 shares traded. The stock had previously closed at $125.66.
Several research analysts have commented on the stock. Goldman Sachs Group Inc. restated a “buy” rating on shares of Vulcan Materials in a research report on Tuesday, April 26th. Zacks Investment Research raised shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a research note on Thursday, May 5th. BB&T Corp. upped their price target on shares of Vulcan Materials from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, May 4th. Bank of America Corp. reaffirmed a “buy” rating on shares of Vulcan Materials in a research note on Friday, June 17th. Finally, Argus reaffirmed a “buy” rating and issued a $129.00 price target on shares of Vulcan Materials in a research note on Monday, May 16th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Vulcan Materials has an average rating of “Buy” and a consensus target price of $128.22.
The stock’s 50 day moving average price is $120.46 and its 200-day moving average price is $107.47. The stock has a market cap of $16.91 billion and a price-to-earnings ratio of 61.71.
Vulcan Materials (NYSE:VMC) last announced its earnings results on Tuesday, May 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.19. The firm had revenue of $755 million for the quarter, compared to analyst estimates of $710.79 million. During the same quarter last year, the business earned ($0.16) EPS. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. Equities research analysts forecast that Vulcan Materials Co. will post $3.50 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Wednesday, August 24th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Monday, August 22nd.
In related news, insider David P. Clement sold 1,255 shares of the stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $113.17, for a total transaction of $142,028.35. Following the completion of the sale, the insider now owns 1,021 shares in the company, valued at approximately $115,546.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Other large investors have recently made changes to their positions in the company. Advantus Capital Management Inc boosted its stake in shares of Vulcan Materials by 3.4% in the fourth quarter. Advantus Capital Management Inc now owns 12,936 shares of the company’s stock worth $1,229,000 after buying an additional 421 shares during the period. ProShare Advisors LLC boosted its stake in shares of Vulcan Materials by 7.3% in the fourth quarter. ProShare Advisors LLC now owns 19,322 shares of the company’s stock worth $1,835,000 after buying an additional 1,307 shares during the period. Utah Retirement Systems boosted its stake in shares of Vulcan Materials by 0.4% in the fourth quarter. Utah Retirement Systems now owns 23,860 shares of the company’s stock worth $2,266,000 after buying an additional 100 shares during the period. Aberdeen Asset Management PLC UK boosted its stake in shares of Vulcan Materials by 29.0% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 25,815 shares of the company’s stock worth $2,409,000 after buying an additional 5,802 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Vulcan Materials by 37.8% in the fourth quarter. Advisors Asset Management Inc. now owns 25,860 shares of the company’s stock worth $2,456,000 after buying an additional 7,087 shares during the period.
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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