Birmingham, Ala. - Vulcan Materials Co. (NYSE:VMC) Senior Vice President Jerry F. Perkins Jr. recently executed a series of stock transactions, as detailed in a recent SEC filing. On November 8, Perkins sold 1,657 shares of Vulcan Materials common stock, generating proceeds of approximately $481,491, with shares priced at $290.58 each.
In addition to the sale, Perkins engaged in several acquisitions and disposals of stock related to stock appreciation rights. On November 7, he acquired 2,500 shares at $92.02 each and 2,200 shares at $122.60 each, resulting in a total acquisition value of $499,770. Furthermore, Perkins disposed of 1,550 shares and 1,493 shares at $290.45 each for tax withholding purposes, totaling $883,839.
Following these transactions, Perkins holds 8,883 shares of Vulcan Materials common stock.
In other recent news, Vulcan Materials Company (NYSE:VMC) has been the focus of multiple analyst reviews, with UBS, Loop Capital, and Stephens all providing positive outlooks. UBS initiated coverage with a Buy rating, emphasizing expected earnings growth that surpasses the market consensus. Loop Capital raised its price target for Vulcan Materials to $310, maintaining a Buy rating based on the company's resilience and potential for further growth. Stephens also increased their stock price target to $325, maintaining an Overweight rating.
Vulcan Materials reported a slight decrease in its adjusted EBITDA to $581 million in the third quarter of 2024, primarily due to a 10% decrease in aggregate shipments. Despite this, the company experienced its eighth consecutive quarter of year-over-year cash gross profit per ton increase. The acquisition of Wake Stone Corporation is expected to add 8-9 million tons of capacity in Eastern North Carolina and contribute to the company's future growth.
Vulcan Materials is expected to play a significant role in rebuilding efforts in areas affected by recent storms, likely increasing demand for the company's materials and services. The company's preliminary guidance for 2025 anticipates high single-digit aggregates ASP growth, low single-digit organic volume improvement, and double-digit aggregates unit profitability growth. These recent developments suggest the company's strategic moves towards future growth.
InvestingPro Insights
Vulcan Materials Co. (NYSE:VMC) has demonstrated strong market performance, with the stock trading near its 52-week high and showing robust returns over various timeframes. According to InvestingPro data, VMC has seen a 38.96% price total return over the past year and a 29.56% return year-to-date. This aligns with the recent stock transactions by Senior Vice President Jerry F. Perkins Jr., suggesting confidence in the company's value.
InvestingPro Tips highlight that Vulcan Materials has maintained dividend payments for 54 consecutive years and has raised its dividend for 11 consecutive years. This consistent dividend history, coupled with a current dividend yield of 0.63%, underscores the company's commitment to shareholder returns, which may be attractive to long-term investors.
However, it's worth noting that VMC is trading at a high P/E ratio of 45.43, which is significantly above the industry average. This valuation metric, along with the InvestingPro Tip indicating that the stock is trading at a high earnings multiple, suggests that investors are pricing in strong future growth expectations.
For investors seeking a more comprehensive analysis, InvestingPro offers 18 additional tips for Vulcan Materials, providing a deeper understanding of the company's financial health and market position.
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