Vulcan Materials (VMC) Posts Earnings Results, Beats Estimates By $0.02 EPS

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).

Earnings History for Vulcan Materials (NYSE:VMC)

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