Vulcan Materials Co. (VMC) to Post FY2016 Earnings of $2.88 Per Share, Jefferies Group Forecasts
Vulcan Materials Co. (NYSE:VMC) – Investment analysts at Jefferies Group decreased their FY2016 earnings estimates for Vulcan Materials in a report issued on Monday. Jefferies Group analyst M. Betts now forecasts that the brokerage will post earnings of $2.88 per share for the year, down from their previous estimate of $3.59. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Vulcan Materials’ FY2017 earnings at $4.21 EPS.
VMC has been the topic of several other research reports. Zacks Investment Research cut shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Tuesday. Royal Bank Of Canada lifted their price objective on shares of Vulcan Materials from $127.00 to $140.00 and gave the company an “outperform” rating in a research report on Tuesday, July 12th. Alembic Global Advisors started coverage on shares of Vulcan Materials in a research report on Thursday, June 9th. They set a “neutral” rating and a $125.00 price objective on the stock. Goldman Sachs Group Inc. cut shares of Vulcan Materials from a “conviction-buy” rating to a “buy” rating and lifted their price objective for the company from $128.00 to $146.00 in a research report on Wednesday, June 8th. Finally, Argus reiterated a “buy” rating and set a $129.00 price objective on shares of Vulcan Materials in a research report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $128.22.
Vulcan Materials (NYSE:VMC) opened at 109.35 on Wednesday. Vulcan Materials has a 1-year low of $78.83 and a 1-year high of $127.20. The firm has a 50-day moving average of $113.29 and a 200-day moving average of $114.86. The stock has a market capitalization of $14.55 billion, a PE ratio of 41.72 and a beta of 1.19.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Monday, August 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.00 by $0.10. Vulcan Materials had a return on equity of 8.74% and a net margin of 9.85%. The firm had revenue of $956.80 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm posted $0.35 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year.
Several hedge funds have recently modified their holdings of the stock. Financial Architects Inc raised its stake in shares of Vulcan Materials by 1,268.9% in the second quarter. Financial Architects Inc now owns 1,013 shares of the company’s stock worth $122,000 after buying an additional 939 shares in the last quarter. Tredje AP fonden raised its stake in shares of Vulcan Materials by 173.9% in the second quarter. Tredje AP fonden now owns 1,260 shares of the company’s stock worth $152,000 after buying an additional 800 shares in the last quarter. Thompson Davis & CO. Inc. raised its stake in shares of Vulcan Materials by 3,155.6% in the second quarter. Thompson Davis & CO. Inc. now owns 1,465 shares of the company’s stock worth $176,000 after buying an additional 1,420 shares in the last quarter. Sunbelt Securities Inc. raised its stake in shares of Vulcan Materials by 179.9% in the second quarter. Sunbelt Securities Inc. now owns 1,531 shares of the company’s stock worth $184,000 after buying an additional 984 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Vulcan Materials by 14.1% in the first quarter. IFP Advisors Inc now owns 1,847 shares of the company’s stock worth $195,000 after buying an additional 228 shares in the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Stanley G. Bass sold 829 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $121.07, for a total transaction of $100,367.03. Following the completion of the sale, the insider now directly owns 15,185 shares of the company’s stock, valued at $1,838,447.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David B. Pasley sold 280 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $117.55, for a total transaction of $32,914.00. Following the sale, the insider now directly owns 2,470 shares of the company’s stock, valued at $290,348.50. The disclosure for this sale can be found here. Company insiders own 0.92% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 24th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Monday, August 22nd. Vulcan Materials’s payout ratio is 30.65%.
About Vulcan Materials
Vulcan Materials Company is a producer of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company has four segments organized around its principal product lines: Aggregates, Asphalt Mix, Concrete and Calcium. The Company operates approximately 344 aggregates facilities.
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