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

Vulcan Materials (NYSE:VMC) – Analysts at Seaport Res Ptn upped their Q2 2024 EPS estimates for Vulcan Materials in a report issued on Thursday, April 25th. Seaport Res Ptn analyst R. Seth now forecasts that the construction company will post earnings per share of $2.73 for the quarter, up from their prior estimate 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.

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

Several other equities research analysts also recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of Vulcan Materials from $236.00 to $269.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 20th. Citigroup raised their target price on shares of Vulcan Materials from $263.00 to $322.00 and gave the company a “buy” rating in a research note on Friday, April 5th. The Goldman Sachs Group raised their target price on shares of Vulcan Materials from $264.00 to $292.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Raymond James raised their price target on shares of Vulcan Materials from $225.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Wolfe Research cut shares of Vulcan Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. 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, the company currently has an average rating of “Moderate Buy” and an average price target of $273.00.

Vulcan Materials Price Performance

Shares of VMC opened at $258.54 on Friday. The company has a market cap of $34.20 billion, a price-to-earnings ratio of 37.04, a price-to-earnings-growth ratio of 1.86 and a beta of 0.83. Vulcan Materials has a twelve month low of $166.43 and a twelve month high of $276.58. 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 50 day moving average of $264.73 and a two-hundred day moving average of $234.37.

Vulcan Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were issued a $0.46 dividend. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, March 1st. This represents a $1.84 dividend on an annualized basis and a yield of 0.71%. Vulcan Materials’s payout ratio is presently 26.36%.

Insider Activity

In related news, SVP Denson N. Franklin III sold 3,200 shares of Vulcan Materials stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $269.48, for a total value of $862,336.00. Following the completion of the transaction, the senior vice president now owns 5,395 shares in the company, valued at approximately $1,453,844.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Melissa H. Anderson sold 1,200 shares of Vulcan Materials stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $260.48, for a total value of $312,576.00. Following the completion of the transaction, the director now owns 330 shares in the company, valued at approximately $85,958.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Denson N. Franklin III sold 3,200 shares of Vulcan Materials stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total value of $862,336.00. Following the completion of the transaction, the senior vice president now 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. Insiders have sold 13,017 shares of company stock worth $3,344,741 in the last ninety days. Company insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Vulcan Materials

Several large investors have recently bought and sold shares of VMC. JPMorgan Chase & Co. boosted its holdings in shares of Vulcan Materials by 47.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,484 shares of the construction company’s stock worth $909,794,000 after purchasing an additional 1,447,700 shares during the last quarter. Norges Bank acquired a new position in Vulcan Materials during the fourth quarter worth $282,528,000. Point72 Asset Management L.P. lifted its stake in Vulcan Materials by 271.0% during the fourth quarter. Point72 Asset Management L.P. now owns 823,141 shares of the construction company’s stock worth $186,861,000 after purchasing an additional 601,268 shares in the last quarter. Wellington Management Group LLP lifted its stake in Vulcan Materials by 30,160.4% during the third quarter. Wellington Management Group LLP now owns 541,359 shares of the construction company’s stock worth $109,365,000 after purchasing an additional 539,570 shares in the last quarter. Finally, Palestra Capital Management LLC lifted its stake in Vulcan Materials by 68.9% during the third quarter. Palestra Capital Management LLC now owns 560,315 shares of the construction company’s stock worth $113,195,000 after purchasing an additional 228,510 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

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.