Vulcan Materials (NYSE:VMC) Short Interest Up 27.3% in November

Vulcan Materials (NYSE:VMC) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 1,770,000 shares, a growth of 27.3% from the October 31st total of 1,390,000 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average trading volume of 946,700 shares, the short-interest ratio is currently 1.9 days.

Analysts Set New Price Targets

VMC has been the topic of a number of recent analyst reports. Citigroup lowered their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barclays lifted their price target on Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Truist Financial upped their price objective on Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada reduced their target price on 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, Stephens dropped their price target on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $283.92.

Institutional Trading of Vulcan Materials

A number of hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its holdings in Vulcan Materials by 62.1% during the 1st quarter. Janus Henderson Group PLC now owns 30,226 shares of the construction company’s stock worth $8,247,000 after buying an additional 11,583 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in Vulcan Materials during the 1st quarter worth approximately $282,000. Swedbank AB acquired a new position in shares of Vulcan Materials in the 1st quarter worth approximately $519,000. Cetera Investment Advisers boosted its stake in shares of Vulcan Materials by 111.5% in the 1st quarter. Cetera Investment Advisers now owns 14,423 shares of the construction company’s stock valued at $3,936,000 after purchasing an additional 7,603 shares during the last quarter. Finally, Cetera Advisors LLC boosted its stake in shares of Vulcan Materials by 118.1% in the 1st quarter. Cetera Advisors LLC now owns 4,146 shares of the construction company’s stock valued at $1,132,000 after purchasing an additional 2,245 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Price Performance

Shares of VMC stock traded up $1.74 on Friday, hitting $288.13. 355,153 shares of the company’s stock were exchanged, compared to its average volume of 835,379. The stock has a market cap of $38.05 billion, a P/E ratio of 45.45, a price-to-earnings-growth ratio of 2.77 and a beta of 0.81. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02. The company has a 50 day moving average of $265.28 and a 200 day moving average of $255.35. Vulcan Materials has a 12 month low of $209.60 and a 12 month high of $298.31.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The business’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.29 EPS. On average, equities research analysts predict that Vulcan Materials will post 7.16 EPS for the current year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th were issued a $0.46 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a yield of 0.64%. Vulcan Materials’s payout ratio is presently 29.02%.

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.