Vulcan Materials (NYSE:VMC) Issues Earnings Results, Misses Expectations By $0.41 EPS

Vulcan Materials (NYSE:VMC) announced its quarterly earnings results on Tuesday. The construction company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.41), FiscalAI reports. Vulcan Materials had a net margin of 14.19% and a return on equity of 13.47%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.95 billion.

Vulcan Materials Price Performance

Shares of VMC stock opened at $327.59 on Tuesday. The business’s fifty day moving average is $301.92 and its 200 day moving average is $296.17. The company has a quick ratio of 1.56, a current ratio of 2.23 and a debt-to-equity ratio of 0.50. The stock has a market cap of $43.28 billion, a price-to-earnings ratio of 38.91, a PEG ratio of 2.45 and a beta of 1.07. Vulcan Materials has a twelve month low of $215.08 and a twelve month high of $331.09.

Vulcan Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 9th will be given a dividend of $0.52 per share. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.49. This represents a $2.08 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, March 9th. Vulcan Materials’s dividend payout ratio is presently 23.28%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup raised their target price on Vulcan Materials from $342.00 to $345.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Royal Bank Of Canada cut their price objective on Vulcan Materials from $279.00 to $278.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. Stifel Nicolaus set a $327.00 target price on Vulcan Materials in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Vulcan Materials in a research note on Tuesday, January 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $320.38.

Insider Activity

In related news, President Thompson S. Baker II sold 7,135 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $300.81, for a total value of $2,146,279.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Denson N. Franklin III sold 665 shares of Vulcan Materials stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $295.00, for a total transaction of $196,175.00. Following the transaction, the senior vice president directly owned 8,284 shares of the company’s stock, valued at approximately $2,443,780. This trade represents a 7.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 9,800 shares of company stock worth $2,919,554. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of Vulcan Materials

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC purchased a new position in shares of Vulcan Materials in the 4th quarter worth about $497,000. Dynamic Technology Lab Private Ltd purchased a new stake in Vulcan Materials during the 4th quarter valued at about $238,000. Curi Capital LLC bought a new stake in Vulcan Materials during the 2nd quarter valued at about $663,000. ICONIQ Capital LLC purchased a new position in Vulcan Materials in the second quarter worth about $248,000. Finally, Flow Traders U.S. LLC purchased a new position in Vulcan Materials in the third quarter worth about $249,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.