Vulcan Materials Co. (NYSE:VMC) – Equities researchers at Jefferies Group reduced their FY2016 earnings per share estimates for shares of Vulcan Materials in a note issued to investors on Monday. Jefferies Group analyst M. Betts now expects that the firm will post earnings of $2.88 per share for the year, down from their previous forecast of $3.59. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Vulcan Materials’ FY2017 earnings at $4.21 EPS.
Vulcan Materials (NYSE:VMC) last released its earnings results on Monday, August 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.00 by $0.10. Vulcan Materials had a net margin of 9.85% and a return on equity of 8.74%. The business had revenue of $956.80 million for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the company earned $0.35 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis.
VMC has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a report on Tuesday. Royal Bank Of Canada lifted their price target on shares of Vulcan Materials from $127.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday, July 12th. Alembic Global Advisors assumed coverage on shares of Vulcan Materials in a report on Thursday, June 9th. They set a “neutral” rating and a $125.00 price target for the company. Goldman Sachs Group Inc. downgraded shares of Vulcan Materials from a “conviction-buy” rating to a “buy” rating and lifted their price target for the company from $128.00 to $146.00 in a report on Wednesday, June 8th. Finally, Argus reissued a “buy” rating and set a $129.00 price target on shares of Vulcan Materials in a report on Wednesday, August 3rd. One equities research 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 a consensus rating of “Buy” and an average price target of $128.22.
Vulcan Materials (NYSE:VMC) traded down 0.75% during mid-day trading on Wednesday, reaching $110.01. 580,527 shares of the company traded hands. The stock’s 50-day moving average price is $113.53 and its 200-day moving average price is $114.90. Vulcan Materials has a one year low of $78.83 and a one year high of $127.20. The firm has a market cap of $14.64 billion, a PE ratio of 41.97 and a beta of 1.19.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Aperio Group LLC raised its position in shares of Vulcan Materials by 27.1% in the first quarter. Aperio Group LLC now owns 37,659 shares of the company’s stock worth $3,976,000 after buying an additional 8,023 shares during the last quarter. IFP Advisors Inc raised its position in shares of Vulcan Materials by 14.1% in the first quarter. IFP Advisors Inc now owns 1,847 shares of the company’s stock worth $195,000 after buying an additional 228 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Vulcan Materials by 0.8% in the first quarter. TIAA CREF Investment Management LLC now owns 317,822 shares of the company’s stock worth $33,552,000 after buying an additional 2,535 shares during the last quarter. Teachers Advisors Inc. raised its position in shares of Vulcan Materials by 5.7% in the first quarter. Teachers Advisors Inc. now owns 161,226 shares of the company’s stock worth $17,021,000 after buying an additional 8,627 shares during the last quarter. Finally, BlackRock Japan Co. Ltd raised its position in shares of Vulcan Materials by 1.0% in the first quarter. BlackRock Japan Co. Ltd now owns 165,253 shares of the company’s stock worth $17,446,000 after buying an additional 1,620 shares during the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Stanley G. Bass sold 829 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $121.07, for a total transaction of $100,367.03. Following the completion of the transaction, the insider now owns 15,185 shares in the company, valued at $1,838,447.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David B. Pasley sold 280 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $117.55, for a total transaction of $32,914.00. Following the transaction, the insider now owns 2,470 shares of the company’s stock, valued at approximately $290,348.50. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 24th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Monday, August 22nd. Vulcan Materials’s dividend payout ratio is currently 30.65%.
About Vulcan Materials
Vulcan Materials Company is a producer of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company has four segments organized around its principal product lines: Aggregates, Asphalt Mix, Concrete and Calcium. The Company operates approximately 344 aggregates facilities.
Receive News & Ratings for Vulcan Materials Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vulcan Materials Co. and related companies with MarketBeat.com's FREE daily email newsletter.