Vulcan Materials Co. (VMC) Given “Hold” Rating at DA Davidson
Vulcan Materials Co. (NYSE:VMC)‘s stock had its “hold” rating restated by equities research analysts at DA Davidson in a note issued to investors on Sunday. They presently have a $120.00 price target on the stock. DA Davidson’s price target points to a potential upside of 12.71% from the stock’s current price.
VMC has been the subject of a number of other reports. Zacks Investment Research downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Royal Bank Of Canada increased their price objective on Vulcan Materials from $127.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday, July 12th. Jefferies Group reissued a “hold” rating on shares of Vulcan Materials in a report on Wednesday, August 31st. Argus reissued a “buy” rating and issued a $129.00 price objective on shares of Vulcan Materials in a report on Wednesday, August 3rd. Finally, Bank of America Corp. reissued a “buy” rating on shares of Vulcan Materials in a report on Friday, June 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Vulcan Materials presently has a consensus rating of “Buy” and a consensus price target of $130.89.
Shares of Vulcan Materials (NYSE:VMC) opened at 106.47 on Friday. The company has a 50-day moving average of $112.77 and a 200-day moving average of $114.84. Vulcan Materials has a 1-year low of $78.83 and a 1-year high of $127.20. The firm has a market cap of $14.17 billion, a PE ratio of 40.62 and a beta of 1.19.
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Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.10. The business earned $956.80 million during the quarter, compared to analyst estimates of $1.01 billion. Vulcan Materials had a net margin of 9.85% and a return on equity of 8.74%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. Analysts predict that Vulcan Materials will post $3.23 earnings per share for the current fiscal year.
In other news, insider David J. Grayson sold 2,025 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $118.77, for a total transaction of $240,509.25. Following the completion of the sale, the insider now owns 18,637 shares in the company, valued at $2,213,516.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stanley G. Bass sold 829 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $121.07, for a total value of $100,367.03. Following the sale, the insider now owns 15,185 shares of the company’s stock, valued at approximately $1,838,447.95. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.
Several large investors have recently added to or reduced their stakes in VMC. OMERS ADMINISTRATION Corp boosted its stake in Vulcan Materials by 29.3% in the first quarter. OMERS ADMINISTRATION Corp now owns 7,500 shares of the company’s stock valued at $792,000 after buying an additional 1,700 shares during the period. Canada Pension Plan Investment Board boosted its position in Vulcan Materials by 39.2% in the first quarter. Canada Pension Plan Investment Board now owns 297,881 shares of the company’s stock valued at $31,447,000 after buying an additional 83,898 shares during the last quarter. Credit Agricole S A boosted its position in Vulcan Materials by 16.2% in the first quarter. Credit Agricole S A now owns 26,417 shares of the company’s stock valued at $2,789,000 after buying an additional 3,687 shares during the last quarter. Aviva PLC boosted its position in Vulcan Materials by 1.3% in the first quarter. Aviva PLC now owns 67,652 shares of the company’s stock valued at $7,142,000 after buying an additional 896 shares during the last quarter. Finally, ING Groep NV acquired a new position in Vulcan Materials during the first quarter valued at about $325,000. Institutional investors and hedge funds own 86.71% of the company’s stock.
Vulcan Materials Company Profile
Vulcan Materials Company is a producer of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company has four segments organized around its principal product lines: Aggregates, Asphalt Mix, Concrete and Calcium. The Company operates approximately 344 aggregates facilities.
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