Vulcan Materials (NYSE:VMC) Sees Large Growth in Short Interest

Vulcan Materials (NYSE:VMC) was the recipient of a significant growth in short interest during the month of 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. Based on an average daily trading volume, of 946,700 shares, the days-to-cover ratio is currently 1.9 days. Approximately 1.3% of the company’s stock are short sold.

Institutional Investors Weigh In On Vulcan Materials

Large investors have recently added to or reduced their stakes in the company. SouthState Corp grew its stake in Vulcan Materials by 669.2% in the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after purchasing an additional 87 shares in the last quarter. Kings Path Partners LLC acquired a new position in shares of Vulcan Materials in the 2nd quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Vulcan Materials in the 3rd quarter worth approximately $30,000. UMB Bank n.a. raised its position in shares of 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 acquiring an additional 47 shares in the last quarter. Finally, Concord Wealth Partners bought a new position in Vulcan Materials during the third quarter worth $35,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Stock Performance

VMC stock traded up $1.74 during trading on Friday, hitting $288.13. The company had a trading volume of 355,153 shares, compared to its average volume of 835,379. The firm has a 50-day moving average price of $265.28 and a 200-day moving average price of $255.35. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42. The firm has a market cap of $38.05 billion, a PE ratio of 45.45, a price-to-earnings-growth ratio of 2.77 and a beta of 0.81. Vulcan Materials has a 1-year low of $209.60 and a 1-year high of $298.31.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 earnings per share. On average, analysts expect that Vulcan Materials will post 7.16 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 4th were issued a $0.46 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.84 annualized dividend and a yield of 0.64%. Vulcan Materials’s dividend payout ratio is currently 29.02%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Truist Financial increased their price objective on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their price target on Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday. Barclays lifted their price objective on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. UBS Group began coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $349.00 target price on the stock. Finally, StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $283.92.

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.