Seaport Res Ptn Research Analysts Lower Earnings Estimates for Vulcan Materials (NYSE:VMC)

Vulcan Materials (NYSE:VMC) – Analysts at Seaport Res Ptn reduced their Q1 2024 earnings per share (EPS) estimates for shares of Vulcan Materials in a report released on Thursday, April 25th. Seaport Res Ptn analyst R. Seth now anticipates that the construction company will post earnings per share of $0.78 for the quarter, down from their previous forecast of $1.45. The consensus estimate for Vulcan Materials’ current full-year earnings is $8.47 per share. Seaport Res Ptn also issued estimates for Vulcan Materials’ Q3 2024 earnings at $3.02 EPS and Q4 2024 earnings at $2.11 EPS.

VMC has been the topic of several other research reports. Raymond James raised their price target on Vulcan Materials from $225.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. 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 report on Friday, March 22nd. Royal Bank of Canada increased their price objective on Vulcan Materials from $236.00 to $269.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 20th. Citigroup increased their price objective on Vulcan Materials from $263.00 to $322.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Truist Financial increased their price objective on Vulcan Materials from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.00.

Vulcan Materials Stock Performance

NYSE:VMC opened at $261.24 on Monday. The business’s 50-day moving average price is $264.85 and its two-hundred day moving average price is $235.03. Vulcan Materials has a twelve month low of $166.54 and a twelve month high of $276.58. The stock has a market cap of $34.55 billion, a P/E ratio of 37.43, a PEG ratio of 1.89 and a beta of 0.83. The company has a quick ratio of 2.39, a current ratio of 3.17 and a debt-to-equity ratio of 0.52.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Register Financial Advisors LLC purchased a new position in Vulcan Materials during the first quarter valued at $27,000. Exchange Traded Concepts LLC bought a new position in shares of Vulcan Materials during the fourth quarter valued at $28,000. Opal Wealth Advisors LLC purchased a new stake in Vulcan Materials during the first quarter valued at $33,000. YHB Investment Advisors Inc. purchased a new stake in Vulcan Materials during the first quarter valued at $34,000. Finally, Private Wealth Management Group LLC purchased a new stake in Vulcan Materials during the fourth quarter valued at $45,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insider Transactions at Vulcan Materials

In other news, VP Randy L. Pigg sold 307 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.27, for a total value of $78,367.89. Following the completion of the transaction, the vice president now owns 1,896 shares in the company, valued at approximately $483,991.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Randy L. Pigg sold 307 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.27, for a total value of $78,367.89. Following the completion of the transaction, the vice president now owns 1,896 shares in the company, valued at approximately $483,991.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stanley G. Bass sold 8,310 shares of the firm’s stock in a transaction that occurred 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 approximately $7,376,992.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,017 shares of company stock worth $3,344,741. 0.62% of the stock is currently owned by 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 given a $0.46 dividend. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Friday, March 1st. Vulcan Materials’s dividend payout ratio (DPR) is currently 26.36%.

Vulcan Materials Company Profile

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.