Seaport Res Ptn Weighs in on Vulcan Materials’ Q2 2024 Earnings (NYSE:VMC)

Vulcan Materials (NYSE:VMC) – Seaport Res Ptn raised their Q2 2024 earnings estimates for shares of Vulcan Materials in a report issued on Thursday, April 25th. Seaport Res Ptn analyst R. Seth now anticipates that the construction company will earn $2.73 per share for the quarter, up from their prior forecast of $2.51. The consensus estimate for Vulcan Materials’ current full-year earnings is $8.47 per share. Seaport Res Ptn also issued estimates for Vulcan Materials’ FY2024 earnings at $8.64 EPS, FY2025 earnings at $10.16 EPS and FY2026 earnings at $11.36 EPS.

A number of other analysts also recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Vulcan Materials from $264.00 to $292.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Jefferies Financial Group upped their price objective on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Raymond James upped their price target on shares of Vulcan Materials from $225.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $270.00 price target (up from $245.00) on shares of Vulcan Materials in a research note on Friday, March 22nd. Finally, Citigroup upped their price objective on shares of Vulcan Materials from $263.00 to $322.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $273.00.

Vulcan Materials Stock Up 1.0 %

Shares of NYSE VMC opened at $261.24 on Friday. The firm has a market capitalization of $34.55 billion, a PE ratio of 37.43, a price-to-earnings-growth ratio of 1.87 and a beta of 0.83. The company has a current ratio of 3.17, a quick ratio of 2.39 and a debt-to-equity ratio of 0.52. Vulcan Materials has a 1 year low of $166.54 and a 1 year high of $276.58. The firm’s 50-day moving average is $264.85 and its 200-day moving average is $234.89.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Friday, February 16th. The construction company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.06. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.84 billion. Vulcan Materials had a net margin of 11.99% and a return on equity of 12.80%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 EPS.

Institutional Trading of Vulcan Materials

Several large investors have recently modified their holdings of the stock. Register Financial Advisors LLC bought a new position in shares of Vulcan Materials in the 1st quarter worth $27,000. Opal Wealth Advisors LLC bought a new position in shares of Vulcan Materials in the 1st quarter worth $33,000. Exchange Traded Concepts LLC bought a new position in shares of Vulcan Materials in the 4th quarter worth $28,000. YHB Investment Advisors Inc. bought a new position in shares of Vulcan Materials in the 1st quarter worth $34,000. Finally, Private Wealth Management Group LLC bought a new position in Vulcan Materials during the 4th quarter valued at $45,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Insider Buying and Selling at Vulcan Materials

In other Vulcan Materials news, SVP Denson N. Franklin III sold 3,200 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total transaction of $862,336.00. Following the completion of the sale, the senior vice president now owns 5,395 shares of the company’s stock, valued at approximately $1,453,844.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $255.27, for a total transaction of $78,367.89. Following the completion of the sale, the vice president now owns 1,896 shares of the company’s stock, valued at approximately $483,991.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Denson N. Franklin III sold 3,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $269.48, for a total transaction of $862,336.00. Following the sale, the senior vice president now directly owns 5,395 shares of the company’s stock, valued at approximately $1,453,844.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,017 shares of company stock valued at $3,344,741. 0.62% of the stock is currently owned by company insiders.

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.43. Vulcan Materials’s dividend payout ratio is currently 26.36%.

About Vulcan Materials

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.