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

Vulcan Materials (NYSE:VMC) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 4,899,000 shares, a decrease of 8.4% from the May 15th total of 5,349,000 shares. Based on an average trading volume of 995,300 shares, the days-to-cover ratio is currently 4.9 days. Approximately 3.7% of the shares of the company are sold short.

VMC has been the topic of a number of research analyst reports. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Berenberg Bank reiterated a “buy” rating and set a GBX 3,620 ($47.30) price target on shares of Bellway in a report on Wednesday, April 3rd. Stifel Nicolaus set a $27.00 price target on shares of Amarin and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Barclays reiterated a “buy” rating on shares of NXP Semiconductors in a report on Sunday, May 5th. Finally, JPMorgan Chase & Co. lowered shares of VESTAS WIND SYS/ADR from a “neutral” rating to an “underweight” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $127.93.

In related news, VP Randy L. Pigg sold 1,754 shares of Vulcan Materials stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $134.96, for a total value of $236,719.84. Following the transaction, the vice president now directly owns 3,034 shares of the company’s stock, valued at $409,468.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael R. Mills sold 1,326 shares of Vulcan Materials stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $136.05, for a total transaction of $180,402.30. Following the completion of the transaction, the insider now directly owns 51,713 shares in the company, valued at $7,035,553.65. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc boosted its holdings in Vulcan Materials by 0.3% during the third quarter. Vanguard Group Inc now owns 13,964,379 shares of the construction company’s stock worth $1,552,839,000 after purchasing an additional 46,860 shares during the last quarter. BlackRock Inc. boosted its holdings in Vulcan Materials by 21.8% during the first quarter. BlackRock Inc. now owns 10,405,781 shares of the construction company’s stock worth $1,232,045,000 after purchasing an additional 1,864,819 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Vulcan Materials by 19.5% during the first quarter. Lazard Asset Management LLC now owns 4,387,024 shares of the construction company’s stock worth $519,423,000 after purchasing an additional 714,979 shares during the last quarter. Egerton Capital UK LLP boosted its holdings in Vulcan Materials by 45.3% during the first quarter. Egerton Capital UK LLP now owns 4,236,189 shares of the construction company’s stock worth $501,565,000 after purchasing an additional 1,320,882 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Vulcan Materials by 11.1% during the first quarter. Principal Financial Group Inc. now owns 3,635,702 shares of the construction company’s stock worth $430,467,000 after purchasing an additional 364,675 shares during the last quarter. 95.82% of the stock is owned by institutional investors.

VMC opened at $135.79 on Friday. Vulcan Materials has a 1-year low of $82.52 and a 1-year high of $140.00. The company has a current ratio of 1.64, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $17.94 billion, a P/E ratio of 33.53, a P/E/G ratio of 1.60 and a beta of 0.93. The firm has a fifty day moving average of $133.04.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.13. The firm had revenue of $996.50 million during the quarter, compared to the consensus estimate of $915.68 million. Vulcan Materials had a net margin of 11.63% and a return on equity of 10.60%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 earnings per share. As a group, analysts forecast that Vulcan Materials will post 4.83 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.91%. Vulcan Materials’s payout ratio is presently 30.62%.

About Vulcan Materials

Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the 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.

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