David J. Grayson Sells 2,121 Shares of Vulcan Materials Co. (VMC) Stock
Vulcan Materials Co. (NYSE:VMC) insider David J. Grayson sold 2,121 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $118.49, for a total transaction of $251,317.29. Following the completion of the sale, the insider now owns 16,648 shares of the company’s stock, valued at approximately $1,972,621.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Vulcan Materials Co. (NYSE:VMC) opened at 134.18 on Monday. Vulcan Materials Co. has a 12 month low of $78.83 and a 12 month high of $138.18. The firm’s 50-day moving average is $113.91 and its 200-day moving average is $116.21. The company has a market cap of $17.75 billion, a price-to-earnings ratio of 48.99 and a beta of 1.19.
Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.19 by $0.18. The firm earned $1.01 billion during the quarter, compared to the consensus estimate of $1.12 billion. Vulcan Materials had a return on equity of 8.83% and a net margin of 10.38%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.95 EPS. On average, analysts anticipate that Vulcan Materials Co. will post $3.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Wednesday, November 23rd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Monday, November 21st. Vulcan Materials’s payout ratio is 29.20%.
Institutional investors have recently made changes to their positions in the company. AXA boosted its position in shares of Vulcan Materials by 12.3% in the first quarter. AXA now owns 8,200 shares of the company’s stock worth $866,000 after buying an additional 900 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Vulcan Materials by 9.1% in the first quarter. Renaissance Technologies LLC now owns 214,065 shares of the company’s stock worth $22,599,000 after buying an additional 17,800 shares during the period. AMP Capital Investors Ltd raised its position in shares of Vulcan Materials by 2.7% in the first quarter. AMP Capital Investors Ltd now owns 69,586 shares of the company’s stock worth $7,340,000 after buying an additional 1,800 shares during the period. National Pension Service raised its position in shares of Vulcan Materials by 4.4% in the first quarter. National Pension Service now owns 85,194 shares of the company’s stock worth $8,994,000 after buying an additional 3,620 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of Vulcan Materials by 51.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 296,158 shares of the company’s stock worth $31,265,000 after buying an additional 100,300 shares during the period. Institutional investors own 87.54% of the company’s stock.
VMC has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. DA Davidson restated a “hold” rating and set a $120.00 price objective on shares of Vulcan Materials in a report on Sunday, October 9th. SunTrust Banks Inc. upgraded shares of Vulcan Materials from a “hold” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $129.00 in a report on Wednesday, October 26th. Jefferies Group restated a “hold” rating on shares of Vulcan Materials in a report on Wednesday, August 31st. Finally, Argus restated a “buy” rating and set a $129.00 price objective on shares of Vulcan Materials in a report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Vulcan Materials has a consensus rating of “Buy” and an average price target of $130.70.
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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