Vulcan Materials Company (VMC) Sees Large Decline in Short Interest
Vulcan Materials Company (NYSE:VMC) was the target of a significant decrease in short interest in July. As of July 14th, there was short interest totalling 2,068,865 shares, a decrease of 28.8% from the June 30th total of 2,907,046 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average daily volume of 1,045,275 shares, the days-to-cover ratio is currently 2.0 days.
In other news, VP Ejaz A. Khan sold 2,024 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $125.30, for a total transaction of $253,607.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Jerry F. Perkins, Jr. sold 306 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $132.00, for a total transaction of $40,392.00. Following the sale, the general counsel now directly owns 5,292 shares in the company, valued at approximately $698,544. The disclosure for this sale can be found here. Insiders have sold 6,743 shares of company stock worth $876,515 in the last three months. Corporate insiders own 0.89% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its position in Vulcan Materials by 0.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,256 shares of the construction company’s stock valued at $392,000 after buying an additional 14 shares during the period. Eads & Heald Investment Counsel raised its position in Vulcan Materials by 0.8% in the second quarter. Eads & Heald Investment Counsel now owns 2,257 shares of the construction company’s stock valued at $286,000 after buying an additional 17 shares during the period. Traynor Capital Management Inc. raised its position in Vulcan Materials by 0.7% in the second quarter. Traynor Capital Management Inc. now owns 2,317 shares of the construction company’s stock valued at $287,000 after buying an additional 17 shares during the period. Gardner Russo & Gardner LLC raised its position in Vulcan Materials by 1.0% in the first quarter. Gardner Russo & Gardner LLC now owns 4,950 shares of the construction company’s stock valued at $596,000 after buying an additional 50 shares during the period. Finally, Bahl & Gaynor Inc. raised its position in Vulcan Materials by 2.0% in the first quarter. Bahl & Gaynor Inc. now owns 3,118 shares of the construction company’s stock valued at $376,000 after buying an additional 60 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Vulcan Materials (VMC) opened at 121.84 on Monday. The company’s 50 day moving average is $127.26 and its 200-day moving average is $124.16. The stock has a market capitalization of $16.13 billion, a price-to-earnings ratio of 39.23 and a beta of 0.93. Vulcan Materials has a 1-year low of $105.71 and a 1-year high of $138.18.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.22 by $0.32. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $0.90 earnings per share. Equities analysts anticipate that Vulcan Materials will post $3.67 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 23rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Monday, August 21st. Vulcan Materials’s dividend payout ratio (DPR) is presently 32.36%.
Several analysts have recently issued reports on VMC shares. Zacks Investment Research cut shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Friday, April 21st. Citigroup Inc. reissued a “buy” rating on shares of Vulcan Materials in a research report on Thursday, May 11th. Argus increased their price target on shares of Vulcan Materials from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, June 9th. Royal Bank Of Canada reissued a “buy” rating and set a $154.00 price target on shares of Vulcan Materials in a research report on Monday, June 19th. Finally, BidaskClub raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $139.67.
Vulcan Materials Company Profile
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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