Franklin Denson N. III, Senior Vice President, General Counsel, and Secretary at Vulcan Materials Co. (NYSE:VMC), recently sold shares totaling $832,742, according to an SEC filing. The sales occurred on November 8 and November 12, with prices ranging from $290.00 to $292.05 per share.
In addition to the sales, Denson exercised stock appreciation rights, acquiring shares at prices between $133.95 and $164.38, with a total value of $1,048,421. The transactions also included shares sold to cover tax obligations and option costs, amounting to $1,498,863 at a price of $290.59 per share.
Following these transactions, Denson's direct ownership stands at 4,472 shares of Vulcan Materials.
In other recent news, Vulcan Materials Company (NYSE:VMC) has been the focus of several analysts' reviews, with UBS initiating coverage with a Buy rating and a price target of $349.00, Loop Capital raising its price target to $310, and Stephens increasing its target to $325. These firms highlight Vulcan's anticipated earnings growth and potential for further growth, including the pending acquisition of Wake Stone. Despite a 10% decrease in aggregate shipments due to severe weather and the divestiture of its Texas concrete business, Vulcan reported a slight decrease in its adjusted EBITDA to $581 million in the third quarter of 2024. However, 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. These recent developments suggest the company's strategic moves towards future growth.
InvestingPro Insights
Recent insider transactions at Vulcan Materials Co. (NYSE:VMC) have caught investors' attention, and a closer look at the company's financial metrics provides additional context. According to InvestingPro data, Vulcan Materials has a substantial market capitalization of $38.13 billion, reflecting its significant presence in the construction materials industry.
The company's stock has shown impressive performance, with a 38.96% total return over the past year and a 29.56% return year-to-date. This strong momentum is further evidenced by the stock trading at 96.67% of its 52-week high, indicating robust investor confidence.
However, investors should note that VMC's P/E ratio stands at 45.43, which is considered high. This valuation metric suggests that the stock may be priced at a premium compared to its earnings. An InvestingPro Tip highlights that VMC is "Trading at a high earnings multiple," which aligns with the current P/E ratio.
Another InvestingPro Tip points out that Vulcan Materials "Has maintained dividend payments for 54 consecutive years." This impressive track record of consistent dividends underscores the company's financial stability and commitment to shareholder returns, despite the recent insider sales.
For investors seeking a more comprehensive analysis, InvestingPro offers 16 additional tips for Vulcan Materials, providing a deeper understanding of the company's financial health and market position.
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