Vulcan Materials (NYSE:VMC) – SunTrust Banks boosted their FY2019 earnings per share (EPS) estimates for Vulcan Materials in a research report issued to clients and investors on Tuesday, October 15th. SunTrust Banks analyst R. Seth now expects that the construction company will post earnings per share of $4.84 for the year, up from their previous forecast of $4.82. SunTrust Banks has a “Buy” rating and a $165.00 price target on the stock. SunTrust Banks also issued estimates for Vulcan Materials’ Q2 2020 earnings at $1.72 EPS, Q3 2020 earnings at $1.88 EPS, FY2021 earnings at $6.60 EPS, FY2022 earnings at $7.66 EPS and FY2023 earnings at $8.60 EPS.
A number of other equities research analysts have also issued reports on VMC. JPMorgan Chase & Co. lifted their target price on shares of Vulcan Materials from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Stifel Nicolaus lifted their price objective on shares of Vulcan Materials from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Bank of America raised shares of Vulcan Materials from an “underperform” rating to a “neutral” rating and set a $157.00 price objective for the company in a research note on Tuesday, October 15th. Longbow Research lifted their price objective on shares of Vulcan Materials from $145.00 to $153.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, BNP Paribas started coverage on shares of Vulcan Materials in a research note on Wednesday, October 9th. They issued an “underperform” rating for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $149.13.
Vulcan Materials (NYSE:VMC) last issued its earnings results on Thursday, July 25th. The construction company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. Vulcan Materials had a net margin of 12.12% and a return on equity of 11.07%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $1.23 EPS.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Vulcan Materials by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 14,438,531 shares of the construction company’s stock worth $1,982,555,000 after acquiring an additional 179,411 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Vulcan Materials by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,676,556 shares of the construction company’s stock worth $367,519,000 after purchasing an additional 97,684 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Vulcan Materials by 2.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,948,358 shares of the construction company’s stock worth $267,530,000 after purchasing an additional 54,487 shares during the period. DF Dent & Co. Inc. increased its holdings in shares of Vulcan Materials by 67.5% during the 2nd quarter. DF Dent & Co. Inc. now owns 1,100,540 shares of the construction company’s stock worth $151,115,000 after purchasing an additional 443,451 shares during the period. Finally, FMR LLC increased its holdings in shares of Vulcan Materials by 6.7% during the 1st quarter. FMR LLC now owns 1,041,382 shares of the construction company’s stock worth $123,300,000 after purchasing an additional 65,399 shares during the period. 95.22% of the stock is owned by hedge funds and other institutional investors.
In other Vulcan Materials news, insider Stanley G. Bass sold 2,406 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $141.94, for a total transaction of $341,507.64. Following the completion of the transaction, the insider now owns 35,263 shares of the company’s stock, valued at approximately $5,005,230.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stanley G. Bass sold 2,184 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $149.93, for a total transaction of $327,447.12. Following the transaction, the insider now directly owns 35,263 shares of the company’s stock, valued at approximately $5,286,981.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,797 shares of company stock valued at $1,511,865. Company insiders own 0.79% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Monday, November 18th. Vulcan Materials’s dividend payout ratio is 30.62%.
Vulcan Materials Company Profile
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use 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 nonresidential facilities.
Further Reading: Dividend Yield
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