Vulcan Materials (NYSE:VMC) – Equities researchers at SunTrust Banks raised their FY2020 earnings estimates for shares of Vulcan Materials in a research report issued to clients and investors on Tuesday, October 30th. SunTrust Banks analyst R. Seth now anticipates that the construction company will earn $5.69 per share for the year, up from their previous forecast of $5.67.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Tuesday, October 30th. The construction company reported $1.40 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.40. Vulcan Materials had a return on equity of 10.20% and a net margin of 16.84%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the business earned $1.04 earnings per share. The company’s revenue was up 13.3% on a year-over-year basis.
Several other analysts have also commented on the company. Zacks Investment Research lowered Vulcan Materials from a “hold” rating to a “sell” rating in a report on Sunday, July 15th. Bank of America lowered Vulcan Materials from a “buy” rating to a “neutral” rating and set a $130.00 price objective for the company. in a report on Wednesday, July 25th. They noted that the move was a valuation call. ValuEngine lowered Vulcan Materials from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. Royal Bank of Canada raised Vulcan Materials from a “sector perform” rating to an “outperform” rating and set a $97.00 price objective for the company in a report on Wednesday, August 1st. They noted that the move was a valuation call. Finally, Jefferies Financial Group raised Vulcan Materials from a “hold” rating to a “buy” rating and set a $128.00 price objective for the company in a report on Wednesday, August 1st. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Vulcan Materials presently has an average rating of “Hold” and an average price target of $121.45.
VMC stock opened at $101.71 on Friday. Vulcan Materials has a 1-year low of $82.52 and a 1-year high of $141.20. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.70 and a quick ratio of 0.96. The firm has a market capitalization of $13.38 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 1.20 and a beta of 0.98.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN grew its holdings in Vulcan Materials by 3.8% during the third quarter. Wells Fargo & Company MN now owns 2,359,404 shares of the construction company’s stock valued at $262,366,000 after purchasing an additional 86,964 shares during the period. Engineers Gate Manager LP bought a new stake in Vulcan Materials during the third quarter valued at about $200,000. Klingenstein Fields & Co. LLC bought a new stake in Vulcan Materials during the third quarter valued at about $15,787,000. JNBA Financial Advisors bought a new stake in Vulcan Materials during the third quarter valued at about $111,000. Finally, Moody National Bank Trust Division grew its holdings in Vulcan Materials by 1,059.4% during the third quarter. Moody National Bank Trust Division now owns 24,580 shares of the construction company’s stock valued at $2,734,000 after purchasing an additional 22,460 shares during the period. 97.44% of the stock is owned by institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Wednesday, November 21st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Tuesday, November 20th. Vulcan Materials’s payout ratio 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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