Vulcan Materials (NYSE:VMC) Shares Gap Up After Strong Earnings

Shares of Vulcan Materials (NYSE:VMC - Get Free Report) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $245.35, but opened at $253.00. Vulcan Materials shares last traded at $252.20, with a volume of 166,929 shares traded.

The construction company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.20. The company had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.64 billion. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. The firm's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 EPS.

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a $0.49 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.96 dividend on an annualized basis and a yield of 0.73%. This is a positive change from Vulcan Materials's previous quarterly dividend of $0.46. Vulcan Materials's dividend payout ratio is currently 28.61%.

Wall Street Analysts Forecast Growth

VMC has been the subject of several research reports. Argus upgraded shares of Vulcan Materials to a "strong-buy" rating in a research note on Thursday, April 24th. Loop Capital lowered their price target on shares of Vulcan Materials from $325.00 to $320.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Citigroup reaffirmed a "buy" rating on shares of Vulcan Materials in a research report on Monday, March 24th. Royal Bank of Canada boosted their price objective on Vulcan Materials from $269.00 to $286.00 and gave the company a "sector perform" rating in a report on Wednesday, February 19th. Finally, Wolfe Research raised Vulcan Materials from a "peer perform" rating to an "outperform" rating in a report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $295.64.

Institutional Trading of Vulcan Materials

Several institutional investors have recently bought and sold shares of VMC. Norges Bank acquired a new position in shares of Vulcan Materials during the 4th quarter worth approximately $380,369,000. Principal Financial Group Inc. increased its holdings in Vulcan Materials by 19.9% in the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company's stock worth $1,332,431,000 after acquiring an additional 884,580 shares in the last quarter. Proficio Capital Partners LLC raised its position in Vulcan Materials by 28,529.4% during the fourth quarter. Proficio Capital Partners LLC now owns 523,631 shares of the construction company's stock worth $134,694,000 after acquiring an additional 521,802 shares during the period. BNP Paribas Financial Markets lifted its holdings in Vulcan Materials by 239.8% during the fourth quarter. BNP Paribas Financial Markets now owns 739,003 shares of the construction company's stock valued at $190,094,000 after purchasing an additional 521,508 shares in the last quarter. Finally, Alkeon Capital Management LLC grew its position in shares of Vulcan Materials by 54.1% in the fourth quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company's stock valued at $329,769,000 after purchasing an additional 450,000 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Stock Up 1.4 %

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.83 and a quick ratio of 2.02. The business's 50 day moving average price is $239.03 and its 200 day moving average price is $259.80. The firm has a market cap of $35.36 billion, a PE ratio of 39.02, a PEG ratio of 2.03 and a beta of 0.80.

Vulcan Materials Company Profile

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.