Vulcan Materials (NYSE:VMC) Lifted to Neutral at Bank of America

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Bank of America upgraded shares of Vulcan Materials (NYSE:VMC) from an underperform rating to a neutral rating in a research report report published on Tuesday, October 15th, BenzingaRatingsTable reports. They currently have $157.00 price objective on the construction company’s stock.

A number of other brokerages have also issued reports on VMC. Barclays upped their target price on shares of Vulcan Materials from $140.00 to $160.00 and gave the company an overweight rating in a research note on Thursday, September 12th. Argus set a $152.00 target price on shares of Vulcan Materials and gave the company a buy rating in a research note on Friday, July 26th. Longbow Research upped their target price on shares of Vulcan Materials from $145.00 to $153.00 and gave the company a buy rating in a research note on Friday, July 26th. ValuEngine lowered shares of Vulcan Materials from a buy rating to a hold rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus upped their target price on shares of Vulcan Materials from $145.00 to $165.00 and gave the company a buy rating in a research note on Wednesday, September 18th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. Vulcan Materials currently has an average rating of Buy and an average price target of $149.81.

VMC stock traded down $0.97 during trading on Tuesday, reaching $136.44. The stock had a trading volume of 1,045,400 shares, compared to its average volume of 1,051,284. The company has a market capitalization of $18.66 billion, a P/E ratio of 33.69, a PEG ratio of 1.62 and a beta of 0.91. The firm has a fifty day moving average price of $146.52 and a 200 day moving average price of $137.95. The company has a current ratio of 1.89, a quick ratio of 1.23 and a debt-to-equity ratio of 0.59. Vulcan Materials has a 1-year low of $90.04 and a 1-year high of $152.49.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, November 6th. The construction company reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.02). The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. Vulcan Materials had a net margin of 12.12% and a return on equity of 11.07%. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.40 EPS. Sell-side analysts predict that Vulcan Materials will post 4.87 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, November 19th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, November 18th. Vulcan Materials’s dividend payout ratio is currently 30.62%.

In related news, insider Stanley G. Bass sold 2,406 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $141.94, for a total transaction of $341,507.64. Following the completion of the sale, the insider now directly owns 35,263 shares of the company’s stock, valued at $5,005,230.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stanley G. Bass sold 2,184 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $149.93, for a total transaction of $327,447.12. Following the sale, the insider now directly owns 35,263 shares of the company’s stock, valued at $5,286,981.59. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Prime Capital Investment Advisors LLC purchased a new stake in shares of Vulcan Materials in the 3rd quarter valued at approximately $25,000. NuWave Investment Management LLC lifted its position in shares of Vulcan Materials by 809.5% in the 2nd quarter. NuWave Investment Management LLC now owns 191 shares of the construction company’s stock valued at $26,000 after acquiring an additional 170 shares in the last quarter. Coastal Investment Advisors Inc. lifted its position in shares of Vulcan Materials by 1,550.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 198 shares of the construction company’s stock valued at $27,000 after acquiring an additional 186 shares in the last quarter. FinTrust Capital Advisors LLC lifted its position in shares of Vulcan Materials by 136.9% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 244 shares of the construction company’s stock valued at $33,000 after acquiring an additional 141 shares in the last quarter. Finally, NEXT Financial Group Inc lifted its position in shares of Vulcan Materials by 46.4% in the 3rd quarter. NEXT Financial Group Inc now owns 303 shares of the construction company’s stock valued at $46,000 after acquiring an additional 96 shares in the last quarter. 95.38% of the stock is owned by institutional investors and hedge funds.

About Vulcan Materials

Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the 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.

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Analyst Recommendations for Vulcan Materials (NYSE:VMC)

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