Brokerages forecast that Vulcan Materials (NYSE:VMC) will report $936.65 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Vulcan Materials’ earnings, with the highest sales estimate coming in at $942.90 million and the lowest estimate coming in at $922.90 million. Vulcan Materials reported sales of $872.98 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.3%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Friday, February 16th.
According to Zacks, analysts expect that Vulcan Materials will report full year sales of $936.65 million for the current fiscal year, with estimates ranging from $3.84 billion to $3.86 billion. For the next fiscal year, analysts anticipate that the company will post sales of $4.21 billion per share, with estimates ranging from $4.19 billion to $4.23 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Vulcan Materials.
Several analysts have issued reports on the company. Citigroup upped their price objective on Vulcan Materials from $144.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Zacks Investment Research upgraded Vulcan Materials from a “strong sell” rating to a “hold” rating in a research note on Sunday, January 21st. Jefferies Group reiterated a “hold” rating and set a $135.00 target price on shares of Vulcan Materials in a research note on Wednesday, January 17th. Stephens reiterated a “buy” rating and set a $158.00 target price on shares of Vulcan Materials in a research note on Wednesday, January 3rd. Finally, Bank of America increased their target price on Vulcan Materials from $129.00 to $139.00 and gave the stock a “neutral” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $146.13.
In other news, insider Michael R. Mills sold 4,659 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $133.25, for a total transaction of $620,811.75. Following the transaction, the insider now owns 45,351 shares in the company, valued at $6,043,020.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael R. Mills sold 3,738 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $134.56, for a total value of $502,985.28. Following the transaction, the insider now owns 44,581 shares in the company, valued at approximately $5,998,819.36. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Cerebellum GP LLC acquired a new stake in Vulcan Materials during the fourth quarter worth approximately $133,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Vulcan Materials during the fourth quarter worth approximately $200,000. WINTON GROUP Ltd acquired a new stake in Vulcan Materials during the second quarter worth approximately $218,000. FCA Corp TX acquired a new stake in Vulcan Materials during the third quarter worth approximately $215,000. Finally, LMR Partners LLP acquired a new stake in Vulcan Materials during the third quarter worth approximately $220,000. 89.48% of the stock is currently owned by institutional investors and hedge funds.
About Vulcan Materials
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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