Vulcan Materials Co. (VMC) Shares Down 1.8%
Vulcan Materials Co. (NYSE:VMC) shares fell 1.8% during trading on Thursday . The company traded as low as $110.68 and last traded at $111.83, with a volume of 1,073,847 shares trading hands. The stock had previously closed at $113.87.
A number of research firms have recently commented on VMC. Royal Bank Of Canada raised their target price on Vulcan Materials from $127.00 to $140.00 and gave the company an “outperform” rating in a research note on Tuesday, July 12th. Bank of America Corp. restated a “buy” rating on shares of Vulcan Materials in a research note on Friday, June 17th. Zacks Investment Research upgraded Vulcan Materials from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research note on Wednesday, June 29th. Jefferies Group restated a “hold” rating on shares of Vulcan Materials in a research note on Wednesday. Finally, Alembic Global Advisors began coverage on Vulcan Materials in a research note on Thursday, June 9th. They issued a “neutral” rating and a $125.00 target price for the company. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $128.22.
The company has a 50 day moving average price of $120.07 and a 200-day moving average price of $112.93. The firm has a market capitalization of $15.23 billion and a price-to-earnings ratio of 43.68.
Vulcan Materials (NYSE:VMC) last released its earnings results on Monday, August 1st. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by $0.10. The firm earned $956.80 million during the quarter, compared to analysts’ expectations of $1.01 billion. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $0.35 earnings per share. On average, equities research analysts expect that Vulcan Materials Co. will post $3.42 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Wednesday, August 24th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, August 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.70%.
In other news, insider Stanley G. Bass sold 829 shares of the company’s stock in a transaction that occurred on 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 owns 15,185 shares of the company’s stock, valued at $1,838,447.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David B. Pasley sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $117.55, for a total value of $32,914.00. Following the transaction, the insider now directly owns 2,470 shares in the company, valued at approximately $290,348.50. The disclosure for this sale can be found here.
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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