Short Interest in Vulcan Materials Company (NYSE:VMC) Drops By 14.3%

Vulcan Materials Company (NYSE:VMC) was the recipient of a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 4,020,542 shares, a decline of 14.3% from the January 29th total of 4,693,007 shares. Based on an average daily volume of 1,263,707 shares, the days-to-cover ratio is presently 3.2 days. Currently, 3.1% of the company’s shares are sold short. Currently, 3.1% of the company’s shares are sold short. Based on an average daily volume of 1,263,707 shares, the days-to-cover ratio is presently 3.2 days.

Vulcan Materials Stock Down 3.0%

Shares of NYSE:VMC opened at $287.14 on Friday. The company’s fifty day moving average is $304.75 and its two-hundred day moving average is $297.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.97 and a current ratio of 2.69. Vulcan Materials has a 1-year low of $215.08 and a 1-year high of $331.09. The stock has a market capitalization of $37.49 billion, a price-to-earnings ratio of 35.36, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Tuesday, February 17th. The construction company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.41). Vulcan Materials had a net margin of 13.56% and a return on equity of 12.56%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the company earned $2.17 EPS. Vulcan Materials’s quarterly revenue was up 3.2% on a year-over-year basis. Equities analysts anticipate that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, March 9th. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.49. Vulcan Materials’s payout ratio is currently 24.14%.

Insider Buying and Selling

In other news, Director Melissa H. Anderson sold 1,137 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $303.72, for a total transaction of $345,329.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Thompson S. Baker II sold 7,135 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $300.81, for a total value of $2,146,279.35. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 8,937 shares of company stock valued at $2,687,784. Insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VMC. Westside Investment Management Inc. increased its position in Vulcan Materials by 100.0% in the third quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock worth $25,000 after buying an additional 42 shares during the period. NBT Bank N A NY bought a new position in shares of Vulcan Materials during the fourth quarter worth about $26,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Vulcan Materials in the 3rd quarter worth about $29,000. Birchwood Financial Partners Inc. bought a new stake in Vulcan Materials in the 4th quarter valued at about $29,000. Finally, Godsey & Gibb Inc. acquired a new position in Vulcan Materials during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VMC. DA Davidson lowered their price target on Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Vulcan Materials in a report on Tuesday, January 27th. Wells Fargo & Company dropped their target price on shares of Vulcan Materials from $317.00 to $315.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 18th. Wall Street Zen cut shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Finally, Truist Financial boosted their price objective on shares of Vulcan Materials from $320.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $326.14.

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.