Vulcan Materials (VMC) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Vulcan Materials (NYSE:VMC) announced its earnings results on Friday, February 16th. The construction company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02, Bloomberg Earnings reports. The business had revenue of $977.50 million during the quarter, compared to analyst estimates of $929.36 million. Vulcan Materials had a net margin of 15.45% and a return on equity of 8.68%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 EPS. Vulcan Materials updated its FY18 guidance to $4.00-4.65 EPS.
Shares of Vulcan Materials (VMC) opened at $120.99 on Tuesday. The company has a quick ratio of 1.80, a current ratio of 2.66 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $16,000.00, a price-to-earnings ratio of 55.00, a PEG ratio of 1.26 and a beta of 0.95. Vulcan Materials has a 12 month low of $108.95 and a 12 month high of $141.20.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.93%. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, February 22nd. Vulcan Materials’s dividend payout ratio is 50.91%.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Vulcan Materials by 18.4% in the 4th quarter. BlackRock Inc. now owns 10,394,204 shares of the construction company’s stock worth $1,334,304,000 after buying an additional 1,614,350 shares during the period. Bank of New York Mellon Corp boosted its holdings in Vulcan Materials by 3.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,542,748 shares of the construction company’s stock worth $326,414,000 after buying an additional 76,434 shares during the period. Wells Fargo & Company MN boosted its holdings in Vulcan Materials by 17.5% in the 3rd quarter. Wells Fargo & Company MN now owns 2,385,223 shares of the construction company’s stock worth $285,272,000 after buying an additional 354,498 shares during the period. Third Point LLC boosted its holdings in Vulcan Materials by 46.9% in the 3rd quarter. Third Point LLC now owns 2,350,000 shares of the construction company’s stock worth $281,060,000 after buying an additional 750,000 shares during the period. Finally, Fred Alger Management Inc. boosted its holdings in Vulcan Materials by 87.8% in the 4th quarter. Fred Alger Management Inc. now owns 1,639,575 shares of the construction company’s stock worth $210,472,000 after buying an additional 766,462 shares during the period. 92.29% of the stock is owned by institutional investors.
A number of equities research analysts have weighed in on VMC shares. Citigroup reiterated a “buy” rating and set a $144.00 target price on shares of Vulcan Materials in a research note on Tuesday, December 26th. SunTrust Banks set a $145.00 target price on shares of Vulcan Materials and gave the company a “buy” rating in a research note on Saturday, December 16th. Zacks Investment Research upgraded shares of Vulcan Materials from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Bank of America boosted their target price on shares of Vulcan Materials from $129.00 to $139.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Finally, Barclays assumed coverage on Vulcan Materials in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $135.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $145.11.
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About Vulcan Materials
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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