Q2 2024 EPS Estimates for Vulcan Materials Boosted by Seaport Res Ptn (NYSE:VMC)

Vulcan Materials (NYSE:VMC - Free Report) - Investment analysts at Seaport Res Ptn increased their Q2 2024 EPS estimates for shares of Vulcan Materials in a research report issued to clients and investors on Thursday, April 25th. Seaport Res Ptn analyst R. Seth now anticipates that the construction company will post earnings per share of $2.73 for the quarter, up from their previous 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 - Get Free Report) last posted its quarterly earnings results on Friday, February 16th. The construction company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.06. The business had revenue of $1.83 billion during 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 period in the prior year, the business posted $1.08 earnings per share.

Several other analysts also recently weighed in on the company. Morgan Stanley assumed coverage on Vulcan Materials in a research report on Monday, January 8th. They issued an "equal weight" rating and a $208.00 price objective for the company. Royal Bank of Canada lifted their price objective on Vulcan Materials from $236.00 to $269.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 20th. Jefferies Financial Group lifted their price target on Vulcan Materials from $298.00 to $319.00 and gave the stock a "buy" rating in a research report on Thursday, April 18th. Raymond James raised their price objective 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. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $270.00 price objective (up from $245.00) on shares of Vulcan Materials in a research report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $273.00.

Vulcan Materials Trading Up 1.0 %

VMC stock traded up $2.70 during trading on Friday, hitting $261.24. 671,334 shares of the company traded hands, compared to its average volume of 780,454. The company has a 50-day moving average of $264.85 and a 200-day moving average of $234.73. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.39 and a current ratio of 3.17. Vulcan Materials has a 1 year low of $166.54 and a 1 year high of $276.58. The firm has a market capitalization of $34.55 billion, a PE ratio of 37.43, a P/E/G ratio of 1.86 and a beta of 0.83.

Vulcan Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were issued a $0.46 dividend. This is an increase 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 dividend yield of 0.70%. Vulcan Materials's dividend payout ratio (DPR) is presently 26.36%.

Insider Activity at Vulcan Materials

In other Vulcan Materials news, VP Randy L. Pigg sold 307 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.27, for a total value of $78,367.89. Following the transaction, the vice president now directly owns 1,896 shares in the company, valued at $483,991.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Vulcan Materials news, VP Randy L. Pigg sold 307 shares of the business's stock in a transaction dated Thursday, February 22nd. The stock was 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 $483,991.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stanley G. Bass sold 8,310 shares of the firm's 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 completion of the transaction, the insider now directly owns 29,311 shares in the company, valued at approximately $7,376,992.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,017 shares of company stock worth $3,344,741. 0.62% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vulcan Materials

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

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.