Vulcan Materials Company (NYSE:VMC) Sees Significant Increase in Short Interest

Vulcan Materials Company (NYSE:VMC) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totaling 5,085,382 shares, a growth of 24.7% from the March 15th total of 4,077,107 shares. Currently, 3.9% of the company’s stock are sold short. Based on an average trading volume of 1,486,065 shares, the short-interest ratio is presently 3.4 days.

Insider Buying and Selling

In other Vulcan Materials news, Director Melissa H. Anderson sold 1,137 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $303.72, for a total value of $345,329.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VMC. Lone Pine Capital LLC bought a new stake in Vulcan Materials during the third quarter worth $425,938,000. Norges Bank purchased a new position in Vulcan Materials during the 4th quarter valued at about $383,613,000. Egerton Capital UK LLP purchased a new position in Vulcan Materials during the 4th quarter valued at about $273,861,000. Vontobel Holding Ltd. grew its holdings in Vulcan Materials by 48.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,511,427 shares of the construction company’s stock valued at $464,945,000 after buying an additional 491,957 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Vulcan Materials by 5.8% in the 3rd quarter. Principal Financial Group Inc. now owns 7,625,271 shares of the construction company’s stock worth $2,345,703,000 after acquiring an additional 414,828 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

NYSE VMC traded down $5.43 on Thursday, reaching $285.82. The stock had a trading volume of 524,232 shares, compared to its average volume of 1,238,090. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.69 and a quick ratio of 1.97. The firm has a fifty day moving average of $289.91 and a two-hundred day moving average of $293.77. Vulcan Materials has a 1-year low of $231.76 and a 1-year high of $331.09. The company has a market cap of $37.29 billion, a P/E ratio of 35.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.10.

Vulcan Materials (NYSE:VMC) last released its earnings results on Tuesday, February 17th. The construction company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.41). Vulcan Materials had a net margin of 13.56% and a return on equity of 12.56%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the company posted $2.17 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Monday, March 9th were paid a dividend of $0.52 per share. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.49. This represents a $2.08 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, March 9th. Vulcan Materials’s payout ratio is 25.62%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. DA Davidson cut their target price on Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Royal Bank Of Canada lowered their price target on Vulcan Materials from $316.00 to $296.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 18th. Wall Street Zen lowered Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $320.00 price target (down from $335.00) on shares of Vulcan Materials in a research report on Wednesday, March 4th. Finally, Citigroup boosted their price target on Vulcan Materials from $345.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Vulcan Materials has a consensus rating of “Moderate Buy” and a consensus target price of $324.08.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.