Vulcan Materials (NYSE:VMC) Announces Quarterly Earnings Results

Vulcan Materials (NYSE:VMC) released its quarterly earnings data on Tuesday. The construction company reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12), Briefing.com reports. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.03 billion. Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the business posted $2.29 earnings per share.

Vulcan Materials Stock Performance

Shares of VMC traded down $2.29 during mid-day trading on Friday, hitting $244.04. The stock had a trading volume of 368,990 shares, compared to its average volume of 795,429. Vulcan Materials has a 52 week low of $190.51 and a 52 week high of $278.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.48 and a quick ratio of 1.81. The business has a fifty day moving average price of $252.41 and a 200-day moving average price of $255.71. The firm has a market cap of $32.27 billion, a P/E ratio of 35.96, a PEG ratio of 2.05 and a beta of 0.82.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Thursday, August 15th. Vulcan Materials’s dividend payout ratio is currently 26.86%.

Insider Buying and Selling

In other news, SVP David P. Clement sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $254.50, for a total value of $254,500.00. Following the sale, the senior vice president now owns 2,660 shares of the company’s stock, valued at $676,970. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP David P. Clement sold 1,000 shares of Vulcan Materials stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $254.50, for a total value of $254,500.00. Following the completion of the transaction, the senior vice president now directly owns 2,660 shares in the company, valued at $676,970. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Thompson S. Baker II sold 6,610 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $272.64, for a total value of $1,802,150.40. Following the sale, the president now directly owns 4,784 shares in the company, valued at approximately $1,304,309.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,610 shares of company stock valued at $2,306,150. 0.62% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on VMC shares. Stephens dropped their price target on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday. Citigroup decreased their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a report on Thursday. Truist Financial dropped their price objective on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday. Jefferies Financial Group upped their target price on shares of Vulcan Materials from $298.00 to $319.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, Loop Capital dropped their price target on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and an average price target of $274.73.

Vulcan Materials Company Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.