Short Interest in Vulcan Materials Company (NYSE:VMC) Rises By 1,739.7%

Key Points

• Vulcan Materials Company experienced a massive increase in short interest in July, rising by 1,739.7% to 3,420,000 shares, leading to a days-to-cover ratio of 3.4 days.
• Several institutional investors significantly increased their stakes in Vulcan Materials, with BNP Paribas Financial Markets growing its position by 239.8% in the fourth quarter.
• The company recently announced a quarterly dividend of $0.49 per share, with an annualized yield of 0.7%, to be paid on September 3rd.

Vulcan Materials Company (NYSE:VMC - Get Free Report) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 3,420,000 shares, agrowthof1,739.7% from the June 30th total of 185,900 shares. Based on an average trading volume of 997,000 shares, the short-interest ratio is presently 3.4 days. Currently,2.6% of the company's stock are sold short. Currently,2.6% of the company's stock are sold short. Based on an average trading volume of 997,000 shares, the short-interest ratio is presently 3.4 days.

Insider Buying and Selling at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 1,500 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $270.00, for a total value of $405,000.00. Following the completion of the sale, the senior vice president directly owned 2,832 shares of the company's stock, valued at approximately $764,640. This represents a 34.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of Vulcan Materials

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC bought a new position in shares of Vulcan Materials during the fourth quarter worth $497,000. Wellington Management Group LLP boosted its holdings in shares of Vulcan Materials by 5.6% in the 4th quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock valued at $249,000 after buying an additional 51 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Vulcan Materials by 9.0% in the 4th quarter. Alliancebernstein L.P. now owns 162,211 shares of the construction company's stock valued at $41,726,000 after buying an additional 13,355 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Vulcan Materials by 33.8% in the 4th quarter. Franklin Resources Inc. now owns 59,759 shares of the construction company's stock valued at $15,372,000 after buying an additional 15,109 shares in the last quarter. Finally, Huntington National Bank boosted its stake in Vulcan Materials by 9.7% in the 4th quarter. Huntington National Bank now owns 2,488 shares of the construction company's stock worth $640,000 after purchasing an additional 220 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Stock Down 0.0%

Vulcan Materials stock traded down $0.11 during trading hours on Friday, hitting $274.56. The stock had a trading volume of 1,442,181 shares, compared to its average volume of 1,029,894. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $36.27 billion, a P/E ratio of 38.35, a price-to-earnings-growth ratio of 2.43 and a beta of 0.83. Vulcan Materials has a 12-month low of $215.08 and a 12-month high of $298.31. The stock's 50-day moving average price is $265.36 and its 200-day moving average price is $257.55.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.45 EPS for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the prior year, the firm earned $2.35 earnings per share. The business's revenue was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 14th. Vulcan Materials's dividend payout ratio is currently 27.80%.

Analyst Ratings Changes

Several research analysts recently commented on VMC shares. Barclays raised their price objective on shares of Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a report on Friday. UBS Group raised shares of Vulcan Materials from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $280.00 to $318.00 in a report on Friday, May 16th. Morgan Stanley lowered their target price on shares of Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a research note on Monday, July 28th. Argus upgraded shares of Vulcan Materials to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Stifel Nicolaus increased their target price on shares of Vulcan Materials from $287.00 to $309.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Vulcan Materials presently has a consensus rating of "Moderate Buy" and an average price target of $302.45.

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.