Vulcan Materials (NYSE:VMC) Posts Quarterly Earnings Results, Misses Estimates By $0.11 EPS

Vulcan Materials (NYSE:VMC) released its earnings results on Thursday. The construction company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.11), Briefing.com reports. Vulcan Materials had a net margin of 11.92% and a return on equity of 12.32%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company earned $0.95 earnings per share. Vulcan Materials’s revenue was down 6.2% on a year-over-year basis.

Vulcan Materials Price Performance

Vulcan Materials stock traded up $0.03 during midday trading on Friday, reaching $264.44. The company had a trading volume of 809,401 shares, compared to its average volume of 699,108. The company has a market capitalization of $34.98 billion, a P/E ratio of 38.60, a P/E/G ratio of 1.98 and a beta of 0.83. Vulcan Materials has a 12-month low of $187.20 and a 12-month high of $276.58. The firm’s fifty day simple moving average is $265.38 and its 200-day simple moving average is $236.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 2.39.

Vulcan Materials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were paid a $0.46 dividend. The ex-dividend date was Friday, March 1st. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a yield of 0.70%. Vulcan Materials’s dividend payout ratio (DPR) is currently 26.86%.

Insider Activity at Vulcan Materials

In other Vulcan Materials news, insider Stanley G. Bass sold 8,310 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $251.68, for a total value of $2,091,460.80. Following the completion of the sale, the insider now owns 29,311 shares in the company, valued at approximately $7,376,992.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Vulcan Materials news, insider Stanley G. Bass sold 8,310 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $251.68, for a total value of $2,091,460.80. Following the completion of the sale, the insider now owns 29,311 shares in the company, valued at approximately $7,376,992.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Randy L. Pigg sold 307 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.27, for a total transaction of $78,367.89. Following the completion of the sale, the vice president now owns 1,896 shares of the company’s stock, valued at approximately $483,991.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,017 shares of company stock valued at $3,344,741. 0.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on VMC shares. Morgan Stanley started coverage on shares of Vulcan Materials in a report on Monday, January 8th. They issued an “equal weight” rating and a $208.00 price target on the stock. Wolfe Research lowered shares of Vulcan Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Royal Bank of Canada upped their price target on shares of Vulcan Materials from $269.00 to $272.00 and gave the company a “sector perform” rating in a report on Friday. Truist Financial upped their price target on shares of Vulcan Materials from $300.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $270.00 target price (up from $245.00) on shares of Vulcan Materials in a research note on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Vulcan Materials presently has a consensus rating of “Moderate Buy” and an average target price of $277.08.

About Vulcan Materials

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.