Vulcan Materials Forecasted to Post Q2 2024 Earnings of $2.73 Per Share (NYSE:VMC)

Vulcan Materials (NYSE:VMC) – Research analysts at Seaport Res Ptn increased their Q2 2024 earnings estimates for Vulcan Materials in a research note issued on Thursday, April 25th. Seaport Res Ptn analyst R. Seth now forecasts that the construction company will earn $2.73 per share for the quarter, up from their previous forecast of $2.51. The consensus estimate for Vulcan Materials’ current full-year earnings is $8.43 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.

Several other research analysts also recently weighed in on the stock. Raymond James boosted their target price 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. The Goldman Sachs Group boosted their price objective 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. Royal Bank of Canada raised their target price on shares of Vulcan Materials from $236.00 to $269.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 20th. Morgan Stanley started coverage on shares of Vulcan Materials in a research note on Monday, January 8th. They issued an “equal weight” rating and a $208.00 target price for the company. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $270.00 price target (up previously from $245.00) on shares of Vulcan Materials in a research note on Friday, March 22nd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Vulcan Materials currently has an average rating of “Moderate Buy” and a consensus target price of $273.00.

Vulcan Materials Stock Up 1.0 %

Shares of NYSE:VMC opened at $261.24 on Friday. The company has a quick ratio of 2.39, a current ratio of 3.17 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $34.55 billion, a P/E ratio of 37.43, a P/E/G ratio of 1.86 and a beta of 0.83. Vulcan Materials has a 52-week low of $166.54 and a 52-week high of $276.58. The stock’s fifty day simple moving average is $264.85 and its 200-day simple moving average is $234.73.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Friday, February 16th. The construction company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.06. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Vulcan Materials had a return on equity of 12.80% and a net margin of 11.99%. Vulcan Materials’s quarterly 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.

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were given a $0.46 dividend. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, March 1st. Vulcan Materials’s dividend payout ratio (DPR) is 26.36%.

Insider Activity at Vulcan Materials

In other news, insider Stanley G. Bass sold 8,310 shares of Vulcan Materials stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $251.68, for a total value of $2,091,460.80. Following the transaction, the insider now directly owns 29,311 shares of the company’s stock, valued at approximately $7,376,992.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Stanley G. Bass sold 8,310 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $251.68, for a total value of $2,091,460.80. Following the completion of the sale, the insider now owns 29,311 shares of the company’s stock, valued at $7,376,992.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Randy L. Pigg sold 307 shares of Vulcan Materials stock in a transaction 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 transaction, the vice president now owns 1,896 shares in the company, valued at approximately $483,991.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,017 shares of company stock worth $3,344,741. 0.62% of the stock is owned by insiders.

Institutional Investors Weigh In On Vulcan Materials

Institutional investors and hedge funds have recently modified their holdings of the stock. Register Financial Advisors LLC purchased a new stake in shares of Vulcan Materials during the 1st quarter valued at about $27,000. Opal Wealth Advisors LLC acquired a new stake in Vulcan Materials in the first quarter valued at approximately $33,000. Exchange Traded Concepts LLC purchased a new stake in shares of Vulcan Materials during the fourth quarter valued at approximately $28,000. YHB Investment Advisors Inc. acquired a new position in shares of Vulcan Materials during the first quarter worth $34,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Vulcan Materials in the fourth quarter valued at $45,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Company Profile

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.