Brokerages forecast that Vulcan Materials (NYSE:VMC) will announce sales of $1.27 billion for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Vulcan Materials’ earnings. The highest sales estimate is $1.30 billion and the lowest is $1.26 billion. Vulcan Materials posted sales of $1.09 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.5%. The business is scheduled to announce its next quarterly earnings results on Wednesday, November 7th.
On average, analysts expect that Vulcan Materials will report full year sales of $4.42 billion for the current year, with estimates ranging from $4.36 billion to $4.48 billion. For the next year, analysts forecast that the company will post sales of $4.86 billion per share, with estimates ranging from $4.76 billion to $5.01 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Vulcan Materials.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Tuesday, July 31st. The construction company reported $1.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.14). Vulcan Materials had a net margin of 15.72% and a return on equity of 9.46%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. The firm’s quarterly revenue was up 16.4% on a year-over-year basis.
A number of analysts have weighed in on the company. Zacks Investment Research cut Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Sunday, July 15th. Bank of America cut Vulcan Materials from a “buy” rating to a “neutral” rating and set a $130.00 target price on the stock. in a research report on Wednesday, July 25th. They noted that the move was a valuation call. ValuEngine cut Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. Royal Bank of Canada upgraded Vulcan Materials from a “sector perform” rating to an “outperform” rating and set a $97.00 target price on the stock in a research report on Wednesday, August 1st. They noted that the move was a valuation call. Finally, Jefferies Financial Group upgraded Vulcan Materials from a “hold” rating to a “buy” rating and set a $128.00 target price on the stock in a research report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $131.11.
In other news, VP John R. Mcpherson sold 21,618 shares of Vulcan Materials stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $130.37, for a total transaction of $2,818,338.66. Following the sale, the vice president now owns 102,610 shares in the company, valued at $13,377,265.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stanley G. Bass sold 4,109 shares of Vulcan Materials stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $130.00, for a total value of $534,170.00. Following the sale, the insider now owns 31,569 shares in the company, valued at approximately $4,103,970. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Sumitomo Life Insurance Co. increased its position in Vulcan Materials by 4.5% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 9,549 shares of the construction company’s stock valued at $1,232,000 after acquiring an additional 411 shares during the period. IFM Investors Pty Ltd increased its position in Vulcan Materials by 11.0% in the 1st quarter. IFM Investors Pty Ltd now owns 4,414 shares of the construction company’s stock valued at $504,000 after acquiring an additional 439 shares during the period. Mount Yale Investment Advisors LLC increased its position in Vulcan Materials by 90.1% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 960 shares of the construction company’s stock valued at $124,000 after acquiring an additional 455 shares during the period. Nissay Asset Management Corp Japan ADV increased its position in Vulcan Materials by 2.4% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 20,417 shares of the construction company’s stock valued at $2,635,000 after acquiring an additional 483 shares during the period. Finally, Howard Capital Management increased its position in Vulcan Materials by 0.4% in the 2nd quarter. Howard Capital Management now owns 113,716 shares of the construction company’s stock valued at $14,676,000 after acquiring an additional 496 shares during the period. Hedge funds and other institutional investors own 97.16% of the company’s stock.
Vulcan Materials stock traded up $0.22 during midday trading on Friday, reaching $110.22. The company’s stock had a trading volume of 793,500 shares, compared to its average volume of 1,334,137. Vulcan Materials has a fifty-two week low of $108.17 and a fifty-two week high of $141.20. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.46 and a quick ratio of 0.96. The stock has a market cap of $14.66 billion, a PE ratio of 36.27, a P/E/G ratio of 1.05 and a beta of 0.95.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Wednesday, August 22nd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Tuesday, August 21st. Vulcan Materials’s dividend payout ratio (DPR) is currently 36.84%.
About Vulcan Materials
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the 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.
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