David B. Pasley Sells 184 Shares of Vulcan Materials Co. (VMC) Stock
Vulcan Materials Co. (NYSE:VMC) insider David B. Pasley sold 184 shares of the stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $132.92, for a total transaction of $24,457.28. Following the completion of the transaction, the insider now directly owns 3,604 shares of the company’s stock, valued at approximately $479,043.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Vulcan Materials Co. (NYSE:VMC) traded down 1.47% during mid-day trading on Thursday, reaching $128.37. 109,618 shares of the company traded hands. The stock has a market capitalization of $16.98 billion, a price-to-earnings ratio of 46.87 and a beta of 1.19. Vulcan Materials Co. has a 12-month low of $78.83 and a 12-month high of $138.18. The company’s 50-day moving average is $115.58 and its 200-day moving average is $116.78.
Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, November 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by $0.18. The firm earned $1.01 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Vulcan Materials had a return on equity of 8.83% and a net margin of 10.38%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. Equities analysts predict that Vulcan Materials Co. will post $3.02 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Wednesday, November 23rd will be given a $0.20 dividend. The ex-dividend date is Monday, November 21st. This represents a $0.80 annualized dividend and a yield of 0.61%. Vulcan Materials’s payout ratio is currently 29.20%.
A number of research analysts recently issued reports on VMC shares. Stephens lowered shares of Vulcan Materials from an “overweight” rating to an “equal weight” rating in a report on Thursday. Argus reiterated a “buy” rating and issued a $129.00 price objective on shares of Vulcan Materials in a report on Wednesday, August 3rd. Zacks Investment Research lowered shares of Vulcan Materials from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 27th. Bank of America Corp. lowered shares of Vulcan Materials from a “buy” rating to a “neutral” rating in a report on Wednesday. They noted that the move was a valuation call. Finally, SunTrust Banks Inc. upgraded shares of Vulcan Materials from a “hold” rating to a “buy” rating and raised their price objective for the company from $110.00 to $129.00 in a report on Wednesday, October 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Vulcan Materials currently has a consensus rating of “Hold” and an average price target of $130.70.
A number of hedge funds have recently made changes to their positions in the stock. Financial Architects Inc increased 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 valued at $122,000 after buying an additional 939 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its position in shares of Vulcan Materials by 6.1% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 1,313 shares of the company’s stock worth $149,000 after buying an additional 75 shares in the last quarter. Tredje AP fonden increased its position 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. Carroll Financial Associates Inc. increased its position in shares of Vulcan Materials by 40.8% in the third quarter. Carroll Financial Associates Inc. now owns 1,416 shares of the company’s stock worth $161,000 after buying an additional 410 shares in the last quarter. Finally, Thompson Davis & CO. Inc. increased its position 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. Hedge funds and other institutional investors own 87.54% of the company’s stock.
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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