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

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

Vulcan Materials Price Performance

Vulcan Materials stock opened at $327.59 on Tuesday. The business has a 50 day simple moving average of $301.92 and a 200 day simple moving average of $296.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.23 and a quick ratio of 1.56. The company has a market capitalization of $43.28 billion, a PE ratio of 38.91, a price-to-earnings-growth ratio of 2.45 and a beta of 1.07. Vulcan Materials has a one year low of $215.08 and a one year high of $331.09.

Vulcan Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, March 9th. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.49. Vulcan Materials’s payout ratio is currently 23.28%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VMC. DA Davidson reissued a “neutral” rating and issued a $330.00 price target on shares of Vulcan Materials in a report on Wednesday, January 14th. Raymond James Financial lifted their target price on Vulcan Materials from $295.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Stifel Nicolaus set a $327.00 price target on Vulcan Materials in a report on Monday, November 3rd. B. Riley Financial initiated coverage on Vulcan Materials in a report on Thursday, January 15th. They set a “buy” rating and a $345.00 price objective on the stock. Finally, Citigroup upped their target price on Vulcan Materials from $342.00 to $345.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.38.

Insiders Place Their Bets

In other news, SVP Denson N. Franklin III sold 665 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $295.00, for a total value of $196,175.00. Following the sale, the senior vice president owned 8,284 shares of the company’s stock, valued at approximately $2,443,780. This represents a 7.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David P. Clement sold 2,000 shares of the stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $288.55, for a total transaction of $577,100.00. Following the sale, the senior vice president owned 832 shares of the company’s stock, valued at $240,073.60. This trade represents a 70.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 9,800 shares of company stock worth $2,919,554 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Vulcan Materials

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in shares of Vulcan Materials by 6.1% during the second quarter. Bank of America Corp DE now owns 2,309,444 shares of the construction company’s stock worth $602,349,000 after buying an additional 133,523 shares in the last quarter. Morgan Stanley grew its position in Vulcan Materials by 7.9% during the 4th quarter. Morgan Stanley now owns 1,727,232 shares of the construction company’s stock worth $492,642,000 after acquiring an additional 126,523 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Vulcan Materials by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,322,235 shares of the construction company’s stock valued at $377,162,000 after purchasing an additional 28,919 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Vulcan Materials by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 977,691 shares of the construction company’s stock valued at $278,857,000 after purchasing an additional 21,611 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Vulcan Materials by 4.5% in the third quarter. Invesco Ltd. now owns 972,665 shares of the construction company’s stock worth $299,211,000 after purchasing an additional 41,658 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

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.