Seaport Res Ptn Has Pessimistic Outlook of VMC Q3 Earnings

Vulcan Materials (NYSE:VMC) – Seaport Res Ptn lowered their Q3 2024 EPS estimates for shares of Vulcan Materials in a note issued to investors on Monday, October 28th. Seaport Res Ptn analyst R. Seth now forecasts that the construction company will post earnings per share of $2.30 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.

Several other equities research analysts also recently commented on VMC. Stephens cut their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Truist Financial dropped their price target on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Barclays boosted their price target on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday. Royal Bank of Canada dropped their price target on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $273.50.

Vulcan Materials Stock Up 0.4 %

NYSE:VMC opened at $259.55 on Wednesday. The firm’s 50 day simple moving average is $246.31 and its 200 day simple moving average is $251.85. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.48 and a quick ratio of 1.66. Vulcan Materials has a one year low of $194.40 and a one year high of $278.79. The company has a market cap of $34.28 billion, a PE ratio of 37.89, a P/E/G ratio of 2.35 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last posted 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). Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business earned $2.29 earnings per share. The firm’s quarterly revenue was down 4.7% on a year-over-year basis.

Institutional Trading of Vulcan Materials

Hedge funds and other institutional investors have recently bought and sold shares of the business. SouthState Corp increased its stake in Vulcan Materials by 669.2% during the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after purchasing an additional 87 shares in the last quarter. Kings Path Partners LLC bought a new stake in Vulcan Materials during the 2nd quarter valued at $27,000. UMB Bank n.a. increased its stake in Vulcan Materials by 61.8% during the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock valued at $31,000 after purchasing an additional 47 shares in the last quarter. Concord Wealth Partners bought a new stake in Vulcan Materials during the 3rd quarter valued at $35,000. Finally, Manchester Capital Management LLC increased its stake in Vulcan Materials by 1,218.2% during the 1st quarter. Manchester Capital Management LLC now owns 145 shares of the construction company’s stock valued at $40,000 after purchasing an additional 134 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a yield of 0.71%. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

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.