$1.08 Billion in Sales Expected for Vulcan Materials Company (NYSE:VMC) This Quarter
Equities analysts predict that Vulcan Materials Company (NYSE:VMC) will post sales of $1.08 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Vulcan Materials’ earnings, with the highest sales estimate coming in at $1.10 billion and the lowest estimate coming in at $1.05 billion. Vulcan Materials reported sales of $956.83 million during the same quarter last year, which indicates a positive year-over-year growth rate of 12.9%. The business is scheduled to issue its next quarterly earnings results on Monday, August 7th.
On average, analysts expect that Vulcan Materials will report full year sales of $1.08 billion for the current financial year, with estimates ranging from $4.02 billion to $4.09 billion. For the next fiscal year, analysts anticipate that the company will report sales of $4.59 billion per share, with estimates ranging from $4.56 billion to $4.64 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Vulcan Materials.
Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, May 10th. The construction company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.12. Vulcan Materials had a return on equity of 8.80% and a net margin of 11.61%. The company had revenue of $787 million during the quarter, compared to the consensus estimate of $743.79 million. During the same period in the previous year, the company posted $0.26 earnings per share. Vulcan Materials’s revenue for the quarter was up 4.3% on a year-over-year basis.
Several research analysts have weighed in on VMC shares. Argus lifted their target price on Vulcan Materials from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, June 9th. Citigroup Inc. reissued a “buy” rating on shares of Vulcan Materials in a report on Thursday, May 11th. Royal Bank Of Canada reissued a “buy” rating and issued a $154.00 price target on shares of Vulcan Materials in a report on Monday, June 19th. Zacks Investment Research cut Vulcan Materials from a “hold” rating to a “sell” rating in a report on Friday, April 21st. Finally, BidaskClub raised Vulcan Materials from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Vulcan Materials currently has a consensus rating of “Hold” and a consensus price target of $138.60.
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Shares of Vulcan Materials (NYSE VMC) traded up 0.32% on Thursday, reaching $125.87. The company’s stock had a trading volume of 97,240 shares. The company has a market capitalization of $16.63 billion, a price-to-earnings ratio of 40.27 and a beta of 0.94. Vulcan Materials has a 1-year low of $105.71 and a 1-year high of $138.18. The stock has a 50-day moving average price of $127.92 and a 200-day moving average price of $124.15.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 23rd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, August 21st. This represents a $1.00 annualized dividend and a yield of 0.80%. Vulcan Materials’s dividend payout ratio is presently 32.15%.
In related news, General Counsel Jerry F. Perkins, Jr. sold 306 shares of Vulcan Materials stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $132.00, for a total transaction of $40,392.00. Following the completion of the transaction, the general counsel now directly owns 5,292 shares of the company’s stock, valued at $698,544. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Ejaz A. Khan sold 2,024 shares of Vulcan Materials stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $125.30, for a total value of $253,607.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,743 shares of company stock valued at $876,515. 0.89% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of VMC. BlackRock Inc. boosted its position in shares of Vulcan Materials by 2,909.7% in the first quarter. BlackRock Inc. now owns 8,067,195 shares of the construction company’s stock valued at $971,936,000 after buying an additional 7,799,158 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in shares of Vulcan Materials during the first quarter valued at about $138,381,000. Marshall Wace North America L.P. purchased a new position in shares of Vulcan Materials during the first quarter valued at about $138,381,000. Point72 Asset Management L.P. boosted its position in shares of Vulcan Materials by 226.1% in the first quarter. Point72 Asset Management L.P. now owns 950,200 shares of the construction company’s stock valued at $114,480,000 after buying an additional 658,800 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Vulcan Materials by 10.6% in the first quarter. JPMorgan Chase & Co. now owns 4,647,016 shares of the construction company’s stock valued at $559,872,000 after buying an additional 443,701 shares in the last quarter. 86.01% of the stock is owned by hedge funds and other institutional investors.
About Vulcan Materials
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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