Vulcan Materials Co. (VMC) Trading Down 1.8%
Shares of Vulcan Materials Co. (NYSE:VMC) dropped 1.8% during trading on Thursday . The stock 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.
VMC has been the topic of several recent analyst reports. Sterne Agee CRT reissued a “buy” rating on shares of Vulcan Materials in a research report on Monday, May 16th. Argus reissued a “buy” rating and set a $129.00 price objective on shares of Vulcan Materials in a research report on Monday, May 16th. Stifel Nicolaus raised their price target on shares of Vulcan Materials from $123.00 to $131.00 and gave the company a “buy” rating in a report on Monday, May 16th. Zacks Investment Research raised shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a report on Thursday, May 5th. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of Vulcan Materials in a report on Friday, June 17th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $128.22.
The stock has a 50-day moving average price of $120.73 and a 200-day moving average price of $112.93. The firm has a market cap of $14.95 billion and a P/E ratio of 42.88.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Monday, August 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.00 by $0.10. The company earned $956.80 million during the quarter, compared to analysts’ expectations of $1.01 billion. Vulcan Materials’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. On average, analysts expect that Vulcan Materials Co. will post $3.42 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Investors 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 dividend yield of 0.71%.
In other Vulcan Materials news, insider David J. Grayson sold 2,025 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $118.77, for a total value of $240,509.25. Following the completion of the transaction, the insider now directly owns 18,637 shares in the company, valued at $2,213,516.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David B. Pasley sold 280 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $117.55, for a total transaction of $32,914.00. Following the completion of the transaction, the insider now owns 2,470 shares of the company’s stock, valued at $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.