Vulcan Materials Company (VMC) Announces Earnings Results, Misses Estimates By $0.36 EPS
Vulcan Materials Company (NYSE:VMC) issued its earnings results on Thursday. The construction company reported $1.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.40 by ($0.36), Bloomberg Earnings reports. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm posted $1.01 EPS. Vulcan Materials’s quarterly revenue was up 8.6% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.82%. Vulcan Materials’s dividend payout ratio is currently 32.36%.
A number of equities analysts have weighed in on VMC shares. BidaskClub lowered Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Zacks Investment Research lowered Vulcan Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Stephens raised Vulcan Materials from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $140.00 to $145.00 in a research report on Thursday, August 3rd. Jefferies Group LLC set a $114.00 target price on Vulcan Materials and gave the stock a “hold” rating in a research report on Tuesday, August 22nd. Finally, Citigroup Inc. reissued a “buy” rating and issued a $140.00 target price (down previously from $145.00) on shares of Vulcan Materials in a research report on Monday, October 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $139.00.
In other news, insider David B. Pasley sold 1,250 shares of Vulcan Materials stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $121.51, for a total value of $151,887.50. Following the sale, the insider now directly owns 2,857 shares of the company’s stock, valued at $347,154.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael R. Mills sold 981 shares of Vulcan Materials stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $117.55, for a total value of $115,316.55. Following the completion of the sale, the insider now directly owns 23,871 shares in the company, valued at $2,806,036.05. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.
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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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