Vulcan Materials Co. (VMC) Trading Down 2.4%
Vulcan Materials Co. (NYSE:VMC) dropped 2.4% during trading on Thursday . The company traded as low as $117.32 and last traded at $117.39, with a volume of 562,606 shares. The stock had previously closed at $120.23.
VMC has been the topic of a number of research reports. BB&T Corp. lifted their price target on shares of Vulcan Materials from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, May 4th. Royal Bank Of Canada lifted their price target on shares of Vulcan Materials from $114.00 to $127.00 and gave the stock an “outperform” rating in a report on Wednesday, May 4th. Zacks Investment Research raised shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a report on Thursday, May 5th. Stifel Nicolaus lifted their price target on shares of Vulcan Materials from $123.00 to $131.00 and gave the stock a “buy” rating in a report on Monday, May 16th. Finally, Argus reaffirmed a “buy” rating and issued a $129.00 price target on shares of Vulcan Materials in a report on Monday, May 16th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $128.22.
The stock has a market cap of $15.64 billion and a PE ratio of 44.85. The firm has a 50-day moving average of $121.73 and a 200-day moving average of $112.03.
Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by $0.10. During the same period in the prior year, the firm earned $0.35 earnings per share. The business had revenue of $956.80 million for the quarter, compared to analyst estimates of $1.01 billion. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts expect that Vulcan Materials Co. will post $3.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Wednesday, August 24th will be paid a $0.20 dividend. The ex-dividend date is Monday, August 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.68%.
In related news, insider David B. Pasley sold 280 shares of Vulcan Materials stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $117.55, for a total transaction of $32,914.00. Following the completion of the transaction, the insider now directly owns 2,470 shares of the company’s stock, valued at approximately $290,348.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David J. Grayson sold 2,025 shares of Vulcan Materials stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $118.77, for a total transaction of $240,509.25. Following the transaction, the insider now directly owns 18,637 shares of the company’s stock, valued at $2,213,516.49. The disclosure for this sale can be found here.
Other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. boosted its position in Vulcan Materials by 4.5% in the fourth quarter. American International Group Inc. now owns 56,158 shares of the company’s stock worth $5,334,000 after buying an additional 2,427 shares in the last quarter. Utah Retirement Systems boosted its position in 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 in the last quarter. State of Tennessee Treasury Department boosted its position in Vulcan Materials by 5.4% in the fourth quarter. State of Tennessee Treasury Department now owns 259,115 shares of the company’s stock worth $24,608,000 after buying an additional 13,226 shares in the last quarter. Employees Retirement System of Texas boosted its position in Vulcan Materials by 302.7% in the fourth quarter. Employees Retirement System of Texas now owns 44,300 shares of the company’s stock worth $4,207,000 after buying an additional 33,300 shares in the last quarter. Finally, I.G. Investment Management LTD. purchased a new position in Vulcan Materials during the fourth quarter worth approximately $8,209,000.
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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