Seaport Res Ptn Equities Analysts Lift Earnings Estimates for Vulcan Materials (NYSE:VMC)

Vulcan Materials (NYSE:VMC) – Seaport Res Ptn upped their Q2 2024 earnings estimates for Vulcan Materials in a note issued to investors on Thursday, April 25th. Seaport Res Ptn analyst R. Seth now forecasts that the construction company will earn $2.73 per share for the quarter, up from their prior estimate of $2.51. The consensus estimate for Vulcan Materials’ current full-year earnings is $8.43 per share. Seaport Res Ptn also issued estimates for Vulcan Materials’ FY2024 earnings at $8.64 EPS, FY2025 earnings at $10.16 EPS and FY2026 earnings at $11.36 EPS.

A number of other equities research analysts have also weighed in on the company. Wolfe Research lowered Vulcan Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Royal Bank of Canada upped their price objective on shares of Vulcan Materials from $236.00 to $269.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 20th. Raymond James raised their target price on shares of Vulcan Materials from $225.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Jefferies Financial Group upped their price target on shares of Vulcan Materials from $298.00 to $319.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $270.00 price objective (up from $245.00) on shares of Vulcan Materials in a research note on Friday, March 22nd. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $273.00.

Vulcan Materials Stock Up 1.0 %

Shares of NYSE VMC opened at $261.24 on Friday. Vulcan Materials has a 52-week low of $166.54 and a 52-week high of $276.58. The firm has a market capitalization of $34.55 billion, a price-to-earnings ratio of 37.43, a PEG ratio of 1.86 and a beta of 0.83. The stock has a 50 day moving average price of $264.85 and a 200 day moving average price of $234.73. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.39 and a current ratio of 3.17.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Friday, February 16th. The construction company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.06. The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Vulcan Materials had a net margin of 11.99% and a return on equity of 12.80%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.08 EPS.

Institutional Trading of Vulcan Materials

Several large investors have recently added to or reduced their stakes in VMC. Contravisory Investment Management Inc. lifted its holdings in shares of Vulcan Materials by 1.6% during the first quarter. Contravisory Investment Management Inc. now owns 2,579 shares of the construction company’s stock worth $704,000 after purchasing an additional 40 shares during the period. Commerce Bank lifted its stake in Vulcan Materials by 1.0% during the 4th quarter. Commerce Bank now owns 4,442 shares of the construction company’s stock valued at $1,008,000 after acquiring an additional 43 shares during the period. Brighton Jones LLC boosted its holdings in shares of Vulcan Materials by 2.4% in the 4th quarter. Brighton Jones LLC now owns 1,916 shares of the construction company’s stock valued at $435,000 after acquiring an additional 45 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Vulcan Materials by 1.6% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,248 shares of the construction company’s stock valued at $656,000 after acquiring an additional 51 shares during the last quarter. Finally, Greenleaf Trust increased its stake in shares of Vulcan Materials by 2.7% in the third quarter. Greenleaf Trust now owns 2,008 shares of the construction company’s stock worth $406,000 after acquiring an additional 52 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insider Transactions at Vulcan Materials

In other news, insider Stanley G. Bass sold 8,310 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $251.68, for a total transaction of $2,091,460.80. Following the sale, the insider now owns 29,311 shares in the company, valued at $7,376,992.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Vulcan Materials news, insider Stanley G. Bass sold 8,310 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $251.68, for a total value of $2,091,460.80. Following the completion of the transaction, the insider now owns 29,311 shares of the company’s stock, valued at $7,376,992.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Denson N. Franklin III sold 3,200 shares of Vulcan Materials stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $269.48, for a total transaction of $862,336.00. Following the sale, the senior vice president now owns 5,395 shares of the company’s stock, valued at $1,453,844.60. The disclosure for this sale can be found here. Insiders sold 13,017 shares of company stock valued at $3,344,741 in the last quarter. 0.62% of the stock is currently owned by corporate insiders.

Vulcan Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, March 1st. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.43. Vulcan Materials’s dividend payout ratio is currently 26.36%.

About Vulcan Materials

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in 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.