Vulcan Materials Co. (VMC) Sets New 1-Year High at $127.20
Shares of Vulcan Materials Co. (NYSE:VMC) hit a new 52-week high during trading on Thursday . The company traded as high as $127.20 and last traded at $126.94, with a volume of 549,735 shares. The stock had previously closed at $125.66.
VMC has been the subject of a number of recent research reports. Zacks Investment Research raised Vulcan Materials from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a report on Thursday, May 5th. Royal Bank Of Canada boosted their price objective on Vulcan Materials from $114.00 to $127.00 and gave the stock an “outperform” rating in a report on Wednesday, May 4th. Stifel Nicolaus boosted their price objective on Vulcan Materials from $123.00 to $131.00 and gave the stock a “buy” rating in a report on Monday, May 16th. BB&T Corp. boosted their price objective on Vulcan Materials from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, May 4th. Finally, Argus reissued a “buy” rating and set a $129.00 price objective on shares of Vulcan Materials in a report on Monday, May 16th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $128.22.
The company’s 50-day moving average is $120.67 and its 200-day moving average is $107.75. The stock has a market cap of $16.51 billion and a price-to-earnings ratio of 60.27.
Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.19. The company earned $755 million during the quarter, compared to analysts’ expectations of $710.79 million. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.16) earnings per share. Analysts expect that Vulcan Materials Co. will post $3.50 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Wednesday, August 24th will be issued a $0.20 dividend. The ex-dividend date is Monday, August 22nd. 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 firm’s stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $113.17, for a total value of $142,028.35. Following the completion of the sale, the insider now directly owns 1,021 shares in the company, valued at $115,546.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Other institutional investors have made changes to their positions in the company. Wells Fargo & Company MN increased 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. I.G. Investment Management LTD. acquired a new position in shares of Vulcan Materials during the fourth quarter worth $8,209,000. J. Goldman & Co LP acquired a new position in shares of Vulcan Materials during the fourth quarter worth $6,497,000. Employees Retirement System of Texas increased its position in shares of 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, BlackRock Advisors LLC increased its position in shares of Vulcan Materials by 43.8% in the fourth quarter. BlackRock Advisors LLC now owns 108,802 shares of the company’s stock worth $10,333,000 after buying an additional 33,120 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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