Seaport Res Ptn Brokers Reduce Earnings Estimates for VMC

Vulcan Materials (NYSE:VMC - Free Report) - Research analysts at Seaport Res Ptn reduced their Q3 2024 earnings per share estimates for shares of Vulcan Materials in a report released on Monday, October 28th. Seaport Res Ptn analyst R. Seth now expects that the construction company will earn $2.30 per share for the quarter, down from their previous forecast of $2.85. The consensus estimate for Vulcan Materials' current full-year earnings is $7.58 per share. Seaport Res Ptn also issued estimates for Vulcan Materials' Q4 2024 earnings at $1.85 EPS, FY2024 earnings at $7.28 EPS, FY2025 earnings at $8.78 EPS and FY2026 earnings at $9.76 EPS.

A number of other analysts have also commented on VMC. Loop Capital decreased their price target on shares of Vulcan Materials from $305.00 to $285.00 and set a "buy" rating for the company in a research note on Wednesday, July 3rd. Citigroup reduced their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Stephens reduced their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an "overweight" rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada reduced their target price on shares of Vulcan Materials from $267.00 to $257.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 7th. Finally, Truist Financial reduced their target price on shares of Vulcan Materials from $320.00 to $300.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $273.50.

Vulcan Materials Stock Up 6.4 %

Shares of NYSE VMC traded up $16.68 during midday trading on Wednesday, hitting $276.23. 1,952,018 shares of the stock traded hands, compared to its average volume of 833,628. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.66 and a current ratio of 2.48. Vulcan Materials has a one year low of $195.70 and a one year high of $279.47. The business has a 50 day moving average price of $246.31 and a two-hundred day moving average price of $251.85. The company has a market cap of $36.48 billion, a PE ratio of 40.44, a P/E/G ratio of 2.35 and a beta of 0.82.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its earnings results on Tuesday, August 6th. The construction company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.12). The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.03 billion. Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The business's quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.29 earnings per share.

Institutional Investors Weigh In On Vulcan Materials

Several institutional investors have recently added to or reduced their stakes in the business. BSW Wealth Partners lifted its holdings in Vulcan Materials by 12.3% during the third quarter. BSW Wealth Partners now owns 1,424 shares of the construction company's stock valued at $357,000 after purchasing an additional 156 shares during the last quarter. Nvwm LLC lifted its holdings in Vulcan Materials by 2.4% during the third quarter. Nvwm LLC now owns 3,170 shares of the construction company's stock valued at $794,000 after purchasing an additional 75 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Vulcan Materials by 2.7% during the third quarter. Janney Montgomery Scott LLC now owns 53,087 shares of the construction company's stock valued at $13,295,000 after purchasing an additional 1,373 shares during the last quarter. Princeton Global Asset Management LLC lifted its holdings in Vulcan Materials by 1.2% during the third quarter. Princeton Global Asset Management LLC now owns 16,148 shares of the construction company's stock valued at $4,044,000 after purchasing an additional 191 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its holdings in Vulcan Materials by 136.3% during the third quarter. Ceredex Value Advisors LLC now owns 355,857 shares of the construction company's stock valued at $89,117,000 after purchasing an additional 205,260 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.67%. The ex-dividend date is Monday, November 4th. Vulcan Materials's dividend payout ratio (DPR) is presently 26.86%.

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.