Vulcan Materials (NYSE:VMC) Sets New 52-Week Low – Here’s What Happened

Vulcan Materials Company (NYSE:VMC) shares reached a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $240.38 and last traded at $240.5940, with a volume of 497565 shares trading hands. The stock had previously closed at $246.15.

Wall Street Analyst Weigh In

VMC has been the subject of several research reports. Wells Fargo & Company lowered shares of Vulcan Materials from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $305.00 to $254.00 in a report on Wednesday, September 9th. Berenberg Bank set a $283.00 target price on shares of Vulcan Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. DA Davidson reiterated a “buy” rating and set a $330.00 price target on shares of Vulcan Materials in a research report on Monday, September 21st. Wall Street Zen downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. Finally, UBS Group lowered their price objective on shares of Vulcan Materials from $350.00 to $349.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $325.00.

Vulcan Materials Stock Down 2.3%

The stock’s 50-day moving average price is $267.60 and its two-hundred day moving average price is $278.21. The stock has a market capitalization of $31.17 billion, a PE ratio of 28.39, a P/E/G ratio of 2.36 and a beta of 1.05. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.20 and a current ratio of 1.76.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.13. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period last year, the company posted $2.42 EPS. Vulcan Materials’s revenue was up 2.5% on a year-over-year basis. As a group, analysts expect that Vulcan Materials Company will post 9.18 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, August 13th. Vulcan Materials’s payout ratio is currently 24.56%.

Insider Activity at Vulcan Materials

In related news, SVP David Clement sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $285.10, for a total value of $570,200.00. Following the sale, the senior vice president owned 6,716 shares in the company, valued at $1,914,731.60. This represents a 22.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director J. Hill sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $276.17, for a total value of $3,866,380.00. Following the transaction, the director directly owned 58,209 shares of the company’s stock, valued at approximately $16,075,579.53. This trade represents a 19.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Vulcan Materials

A number of hedge funds have recently bought and sold shares of VMC. Burkett Financial Services LLC purchased a new stake in shares of Vulcan Materials during the second quarter valued at approximately $25,000. Meeder Asset Management Inc. grew its stake in shares of Vulcan Materials by 71.7% in the first quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock worth $28,000 after acquiring an additional 43 shares during the period. Reflection Asset Management bought a new stake in shares of Vulcan Materials in the fourth quarter worth approximately $37,000. Clearstead Trust LLC purchased a new position in shares of Vulcan Materials during the second quarter valued at approximately $37,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Vulcan Materials during the second quarter valued at approximately $51,000. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Company Profile

Vulcan Materials Company (NYSE:VMC) is a major producer and supplier of construction materials in the United States. The company primarily produces and distributes construction aggregates, including crushed stone, sand and gravel, which are used in infrastructure, commercial, residential and industrial projects.

In addition to aggregates, Vulcan produces asphalt mix and ready-mixed concrete and provides related construction-material services. Its products support highways, bridges, airports, buildings and other essential infrastructure.