Vulcan Materials Co. (VMC) Trading Down 2.4%
Vulcan Materials Co. (NYSE:VMC) fell 2.4% on Thursday . The company traded as low as $117.32 and last traded at $117.39, with a volume of 562,606 shares trading hands. The stock had previously closed at $120.23.
A number of brokerages recently weighed in on VMC. Argus restated a “buy” rating and set a $129.00 price objective on shares of Vulcan Materials in a research note on Wednesday, August 3rd. Zacks Investment Research cut shares of Vulcan Materials from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Royal Bank Of Canada lifted their price objective on shares of 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. Finally, Alembic Global Advisors began coverage on shares of Vulcan Materials in a research note on Thursday, June 9th. They set a “neutral” rating and a $125.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Vulcan Materials has an average rating of “Buy” and a consensus target price of $128.22.
The company has a market cap of $15.45 billion and a PE ratio of 44.29. The firm has a 50-day moving average price of $121.46 and a 200 day moving average price of $112.26.
Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by $0.10. During the same quarter last year, the business earned $0.35 EPS. The business earned $956.80 million during the quarter, compared to analysts’ expectations of $1.01 billion. Vulcan Materials’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts expect that Vulcan Materials Co. will post $3.42 earnings per share 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 given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Monday, August 22nd.
In other Vulcan Materials news, insider David J. Grayson sold 2,025 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $118.77, for a total value of $240,509.25. Following the transaction, the insider now owns 18,637 shares of the company’s stock, valued at $2,213,516.49. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David B. Pasley sold 280 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $117.55, for a total value of $32,914.00. Following the completion of 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.
An institutional investor recently raised its position in Vulcan Materials stock. Utah Retirement Systems raised its position in Vulcan Materials Co. (NYSE:VMC) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,860 shares of the company’s stock after buying an additional 100 shares during the period. Utah Retirement Systems’ holdings in Vulcan Materials were worth $2,266,000 at the end of the most recent reporting period.
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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