Vulcan Materials (NYSE:VMC) Reaches New 12-Month Low – Here’s Why

Vulcan Materials Company (NYSE:VMC) shares hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $240.38 and last traded at $240.5940, with a volume of 497565 shares. The stock had previously closed at $246.15.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VMC. Berenberg Bank set a $283.00 price objective on Vulcan Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Raymond James Financial reiterated an “outperform” rating on shares of Vulcan Materials in a research report on Wednesday, July 15th. DA Davidson reissued a “buy” rating and set a $330.00 price objective on shares of Vulcan Materials in a report on Monday, September 21st. Wells Fargo & Company cut shares of Vulcan Materials from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $305.00 to $254.00 in a research report on Wednesday, September 9th. Finally, UBS Group lowered their target price on shares of Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $325.00.

Vulcan Materials Stock Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.20 and a current ratio of 1.76. The company has a market cap of $31.17 billion, a PE ratio of 28.39, a PEG ratio of 2.36 and a beta of 1.05. The business’s 50-day moving average is $267.60 and its 200 day moving average is $278.21.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.13. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the business posted $2.42 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. On average, equities research analysts predict that Vulcan Materials Company will post 9.18 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Thursday, August 13th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, August 13th. This represents a $2.08 annualized dividend and a yield of 0.9%. Vulcan Materials’s dividend payout ratio is currently 24.56%.

Insider Activity at Vulcan Materials

In other Vulcan Materials news, Director J. Hill sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $276.17, for a total value of $3,866,380.00. Following the completion of the sale, the director owned 58,209 shares in the company, valued at approximately $16,075,579.53. The trade was a 19.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP David P. Clement sold 2,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $285.10, for a total value of $570,200.00. Following the sale, the senior vice president directly owned 6,716 shares of the company’s stock, valued at approximately $1,914,731.60. This trade represents a 22.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vulcan Materials

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VMC. Burkett Financial Services LLC bought a new position in shares of Vulcan Materials during the second quarter valued at about $25,000. Meeder Asset Management Inc. grew its stake in shares of Vulcan Materials by 71.7% in the first quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock worth $28,000 after purchasing an additional 43 shares during the last quarter. Reflection Asset Management purchased a new position in Vulcan Materials during the 4th quarter valued at about $37,000. Clearstead Trust LLC purchased a new position in Vulcan Materials during the 2nd quarter valued at about $37,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in Vulcan Materials during the 2nd quarter valued at about $51,000. 90.39% of the stock is currently owned by institutional investors.

About Vulcan Materials

Vulcan Materials Company (NYSE:VMC) is a major producer and supplier of construction materials in the United States. The company primarily produces and distributes construction aggregates, including crushed stone, sand and gravel, which are used in infrastructure, commercial, residential and industrial projects.

In addition to aggregates, Vulcan produces asphalt mix and ready-mixed concrete and provides related construction-material services. Its products support highways, bridges, airports, buildings and other essential infrastructure.