Vulcan Materials Co. (VMC) Reaches New 1-Year High at $122.25
Vulcan Materials Co. (NYSE:VMC)’s share price reached a new 52-week high on Thursday . The company traded as high as $122.25 and last traded at $121.50, with a volume of 183,240 shares. The stock had previously closed at $121.62.
A number of equities analysts have weighed in on VMC shares. Goldman Sachs Group Inc. upped their price target on Vulcan Materials from $115.00 to $128.00 in a report on Friday, April 8th. Bank of America Corp. restated a “buy” rating on shares of Vulcan Materials in a report on Thursday, March 17th. Zacks Investment Research cut Vulcan Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 12th. Royal Bank Of Canada upped their price target on Vulcan Materials from $106.00 to $114.00 in a report on Tuesday, April 12th. Finally, Alembic Global Advisors began coverage on Vulcan Materials in a report on Thursday, June 9th. They issued a “neutral” rating and a $125.00 price target for the company. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Vulcan Materials has a consensus rating of “Buy” and a consensus target price of $125.11.
The stock has a market cap of $16.13 billion and a price-to-earnings ratio of 58.89. The stock’s 50 day moving average is $116.85 and its 200-day moving average is $104.10.
Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.19. The company had revenue of $755 million for the quarter, compared to analyst estimates of $710.79 million. The business’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) EPS. On average, equities research analysts predict that Vulcan Materials Co. will post $3.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Thursday, May 26th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Tuesday, May 24th.
In other news, insider David P. Clement sold 1,255 shares of the stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $113.17, for a total transaction of $142,028.35. Following the transaction, the insider now owns 1,021 shares of the company’s stock, valued at approximately $115,546.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Several hedge funds and institutional investors recently modified their holdings of VMC. Suntrust Banks Inc. raised its position in shares of Vulcan Materials by 1,023.1% in the fourth quarter. Suntrust Banks Inc. now owns 26,156 shares of the company’s stock worth $2,484,000 after buying an additional 23,827 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Vulcan Materials by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 11,565,316 shares of the company’s stock worth $1,098,359,000 after buying an additional 323,146 shares in the last quarter. BP PLC raised its position in shares of Vulcan Materials by 42.9% in the fourth quarter. BP PLC now owns 60,000 shares of the company’s stock worth $5,698,000 after buying an additional 18,000 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Vulcan Materials by 6.4% in the fourth quarter. Wells Fargo & Company MN now owns 2,153,367 shares of the company’s stock worth $204,504,000 after buying an additional 129,678 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position 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 in the last quarter.
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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