DA Davidson Comments on Vulcan Materials Company’s Q3 2017 Earnings (VMC)
Vulcan Materials Company (NYSE:VMC) – Analysts at DA Davidson cut their Q3 2017 earnings per share estimates for Vulcan Materials in a note issued to investors on Thursday. DA Davidson analyst B. Thielman now anticipates that the construction company will post earnings of $1.01 per share for the quarter, down from their previous estimate of $1.34. DA Davidson also issued estimates for Vulcan Materials’ FY2017 earnings at $3.15 EPS and FY2018 earnings at $4.50 EPS.
Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research note on Tuesday, June 20th. Royal Bank Of Canada reissued a “buy” rating and issued a $154.00 price objective on shares of Vulcan Materials in a research note on Monday, June 19th. Argus increased their price objective on shares of Vulcan Materials from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, June 9th. Citigroup Inc. reissued a “buy” rating on shares of Vulcan Materials in a research note on Thursday, May 11th. Finally, BidaskClub raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $139.67.
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Vulcan Materials (NYSE VMC) opened at 121.84 on Monday. Vulcan Materials has a one year low of $105.71 and a one year high of $138.18. The firm has a 50-day moving average of $127.26 and a 200 day moving average of $124.16. The company has a market capitalization of $16.13 billion, a P/E ratio of 39.23 and a beta of 0.93.
Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by $0.32. Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Wednesday, August 23rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.00 annualized dividend and a yield of 0.82%. Vulcan Materials’s dividend payout ratio (DPR) is currently 32.36%.
In other Vulcan Materials news, insider Stanley G. Bass sold 4,413 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $132.00, for a total transaction of $582,516.00. Following the completion of the transaction, the insider now owns 21,939 shares in the company, valued at $2,895,948. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ejaz A. Khan sold 2,024 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $125.30, for a total transaction of $253,607.20. The disclosure for this sale can be found here. Insiders have sold 6,743 shares of company stock valued at $876,515 in the last quarter. 0.89% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. raised its stake in Vulcan Materials by 1.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 307,293 shares of the construction company’s stock valued at $38,457,000 after buying an additional 3,598 shares during the period. Teachers Advisors LLC raised its stake in Vulcan Materials by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 148,379 shares of the construction company’s stock valued at $18,570,000 after buying an additional 7,178 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in Vulcan Materials by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 115,100 shares of the construction company’s stock valued at $13,867,000 after buying an additional 3,541 shares during the period. CENTRAL TRUST Co raised its stake in Vulcan Materials by 6.6% in the first quarter. CENTRAL TRUST Co now owns 2,568 shares of the construction company’s stock valued at $309,000 after buying an additional 160 shares during the period. Finally, Gulf International Bank UK Ltd raised its stake in Vulcan Materials by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 41,338 shares of the construction company’s stock valued at $4,980,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.
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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