Vulcan Materials Co. (VMC) Reaches New 12-Month High at $122.25
Vulcan Materials Co. (NYSE:VMC) 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 trading hands. The stock had previously closed at $121.62.
A number of equities research analysts have weighed in on the company. BB&T Corp. raised their price target on Vulcan Materials from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, May 4th. Zacks Investment Research downgraded Vulcan Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Royal Bank Of Canada raised their price objective on Vulcan Materials from $114.00 to $127.00 and gave the company an “outperform” rating in a research note on Wednesday, May 4th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Vulcan Materials in a research note on Tuesday, April 26th. Finally, Stifel Nicolaus raised their price objective on Vulcan Materials from $123.00 to $131.00 and gave the company a “buy” rating 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 a consensus rating of “Buy” and an average target price of $125.11.
The firm has a market cap of $16.46 billion and a P/E ratio of 60.09. The stock has a 50 day moving average of $117.32 and a 200-day moving average of $104.43.
Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.07 by $0.19. The company earned $755 million during the quarter, compared to analysts’ expectations of $710.79 million. During the same quarter in the previous year, the firm earned ($0.16) EPS. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. Equities analysts predict that Vulcan Materials Co. will post $3.51 EPS for the current fiscal year.
The business also recently declared 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. This represents a $0.80 annualized dividend and a yield of 0.65%.
In other Vulcan Materials news, insider David P. Clement sold 1,255 shares of the business’s stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $113.17, for a total value of $142,028.35. Following 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 SEC, which can be accessed through the SEC website.
Other hedge funds recently made changes to their positions in the company. Arrow Financial Corp boosted its stake in shares of Vulcan Materials by 0.3% in the fourth quarter. Arrow Financial Corp now owns 20,669 shares of the company’s stock valued at $1,962,000 after buying an additional 58 shares during the last quarter. World Asset Management Inc boosted its stake in shares of Vulcan Materials by 2.9% in the fourth quarter. World Asset Management Inc now owns 14,170 shares of the company’s stock valued at $1,345,000 after buying an additional 397 shares during the last quarter. 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 valued at $1,229,000 after buying an additional 421 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Vulcan Materials by 0.9% in the fourth quarter. Great West Life Assurance Co. Can now owns 64,984 shares of the company’s stock valued at $6,174,000 after buying an additional 589 shares during the last quarter. Finally, Andra AP fonden boosted its stake in shares of Vulcan Materials by 4.9% in the fourth quarter. Andra AP fonden now owns 27,800 shares of the company’s stock valued at $2,640,000 after buying an additional 1,300 shares during 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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