Vulcan Materials ( NYSE:VMC ) narrows share gap on disappointing earnings

VaselineAugust 8, 2024

0 4 minutes read

Vulcan Materials’ ( NYSE:VMC – Get Free Report ) share price fell in premarket trading on Tuesday following a weaker-than-expected earnings announcement. The stock had previously closed at $257.43 but opened at $245.61. Shares of Vulcan Materials last traded at $241.49 with a volume of 85,013 shares.

The construction company reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.03 billion. In the same quarter last year, the company posted EPS of $2.29. The company’s revenue fell 4.7% year over year.

Vulcan Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th will be given a $0.46 dividend. This represents an annualized dividend of $1.84 and a yield of 0.76%. The ex-dividend date is Thursday, August 15. Vulcan Materials’ payout ratio is currently 26.86%.

Analysts set new price targets

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Several research analysts recently weighed in on VMC shares. Loop Capital cut their price target on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Jefferies Financial Group boosted their price objective on shares of Vulcan Materials from $298.00 to $319.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Truist Financial decreased their price objective on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday. Stephens upped their target price on shares of Vulcan Materials from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada cut their price target on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday . Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Vulcan Materials has a consensus rating of “Moderate Buy” and an average target price of $277.91, according to MarketBeat .

Get the latest Vulcan Materials Stock Report

Insiders place their bets

In related news, Chairman Thompson S. Baker II sold 8,600 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $272.95, for a total value of $2,347,370.00. Following the completion of the sale, the chairman now owns 1,300 shares of the company’s stock, valued at $354,835. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other news, Chairman Thompson S. Baker II sold 8,600 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $272.95, for a total transaction of $2,347,370.00. Following the transaction, the chairman now owns 1,300 shares of the company’s stock, valued at approximately $354,835. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP David P. Clement sold 1,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $249.50, for a total transaction of $249,500.00. Following the completion of the sale, the senior vice president now directly owns 1,660 shares of the company’s stock, valued at approximately $414,170. The disclosure for this sale can be found here. Insiders have sold 17,210 shares of company stock worth $4,653,520 over the last ninety days. 0.62% of shares are currently held by corporate insiders.

Vulcan Institutional Marketing of Materials

Institutional investors have recently made changes to their positions in the company. Register Financial Advisors LLC purchased a new stake in shares of Vulcan Materials in the 1st quarter valued at approximately $27,000. SouthState Corp boosted its holdings in Vulcan Materials by 669.2% in the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after purchasing an additional 87 shares during the last quarter. Kings Path Partners LLC purchased a new stake in Vulcan Materials in the second quarter valued at about $27,000. Opal Wealth Advisors LLC acquired a new position in Vulcan Materials in the first quarter worth $33,000. Finally, YHB Investment Advisors Inc. purchased a new position in Vulcan Materials in the first quarter worth about $34,000. Hedge funds and other institutional investors own 90.39% of the company’s shares.

Vulcan material inventory down 2.0%

The company’s fifty-day simple moving average is $252.56, and its 200-day simple moving average is $255.77. The company has a market cap of $31.90 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 2.22 and a beta of 0.82. The company has a current ratio of 2.74, a quick ratio of 1.81, and a debt-to-equity ratio of 0.44.

About Vulcan Materials

(Get a free report)

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