Vulcan Materials (NYSE:VMC) issued its quarterly earnings data on Friday. The construction company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.02, Bloomberg Earnings reports. Vulcan Materials had a return on equity of 8.71% and a net margin of 10.20%. The company had revenue of $977.50 million during the quarter, compared to the consensus estimate of $929.36 million. During the same period last year, the company earned $0.69 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year. Vulcan Materials updated its FY18 guidance to $4.00-4.65 EPS.
Shares of Vulcan Materials (NYSE:VMC) opened at $126.57 on Friday. Vulcan Materials has a one year low of $108.95 and a one year high of $141.20. The company has a market capitalization of $16,743.31, a P/E ratio of 41.91, a P/E/G ratio of 1.77 and a beta of 0.84. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.34 and a current ratio of 4.22.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, February 22nd. This represents a $1.12 annualized dividend and a yield of 0.88%. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.25. Vulcan Materials’s dividend payout ratio (DPR) is currently 22.42%.
In related news, insider Michael R. Mills sold 3,738 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $134.56, for a total transaction of $502,985.28. Following the completion of the sale, the insider now owns 44,581 shares of the company’s stock, valued at $5,998,819.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael R. Mills sold 4,659 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $133.25, for a total value of $620,811.75. Following the sale, the insider now directly owns 45,351 shares of the company’s stock, valued at approximately $6,043,020.75. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VMC. BlackRock Inc. grew its stake in Vulcan Materials by 18.4% during the fourth quarter. BlackRock Inc. now owns 10,394,204 shares of the construction company’s stock worth $1,334,304,000 after purchasing an additional 1,614,350 shares during the period. Fred Alger Management Inc. grew its stake in Vulcan Materials by 87.8% during the fourth quarter. Fred Alger Management Inc. now owns 1,639,575 shares of the construction company’s stock worth $210,472,000 after purchasing an additional 766,462 shares during the period. Third Point LLC grew its stake in Vulcan Materials by 46.9% in the third quarter. Third Point LLC now owns 2,350,000 shares of the construction company’s stock valued at $281,060,000 after acquiring an additional 750,000 shares during the period. Millennium Management LLC grew its stake in Vulcan Materials by 256.9% in the fourth quarter. Millennium Management LLC now owns 1,013,853 shares of the construction company’s stock valued at $130,148,000 after acquiring an additional 729,757 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in Vulcan Materials by 116.5% in the third quarter. Point72 Asset Management L.P. now owns 1,038,752 shares of the construction company’s stock valued at $124,235,000 after acquiring an additional 558,900 shares during the period. 88.78% of the stock is owned by institutional investors and hedge funds.
VMC has been the subject of a number of analyst reports. Jefferies Group raised their price objective on Vulcan Materials from $122.00 to $128.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. Citigroup restated a “buy” rating and set a $144.00 price objective on shares of Vulcan Materials in a research report on Tuesday, December 26th. SunTrust Banks set a $145.00 price objective on Vulcan Materials and gave the stock a “buy” rating in a research report on Saturday, December 16th. Zacks Investment Research downgraded Vulcan Materials from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 6th. Finally, Stephens restated a “buy” rating and set a $158.00 price objective on shares of Vulcan Materials in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $146.00.
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Vulcan Materials Company Profile
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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