Zacks Investment Research cut shares of Vulcan Materials (NYSE:VMC) from a hold rating to a strong sell rating in a research report report published on Saturday, January 6th.
According to Zacks, “Vulcan Materials shares have underperformed its industry in the past one year. Estimates for 2018 moved south by 4.7% over the last 60 days, reflecting concerns for the stock's prospects. The company is susceptible to bad weather conditions as most of its products are used outdoors in the public or private construction industry. Inclement weather affects both the company’s ability to produce and distribute products and affects demand as construction work can be hampered by weather. In the third quarter of 2017, hurricanes Harvey and Irma had a major impact on Vulcan's operations and results. Aggregates shipments were lowered by at least 1.5 million tons during the quarter. Apart from the immediate impact of the storms, labor market disruptions, haul truck shortages and other logistical challenges continue to trouble.”
Several other brokerages have also commented on VMC. Stephens restated a buy rating and issued a $158.00 price objective on shares of Vulcan Materials in a report on Wednesday, January 3rd. Citigroup restated a buy rating and issued a $144.00 price objective on shares of Vulcan Materials in a report on Tuesday, December 26th. Jefferies Group raised their price objective on shares of Vulcan Materials from $122.00 to $128.00 and gave the stock a hold rating in a report on Friday, November 3rd. Barclays started coverage on shares of Vulcan Materials in a report on Tuesday, December 12th. They issued an overweight rating and a $135.00 price objective for the company. Finally, SunTrust Banks set a $145.00 target price on shares of Vulcan Materials and gave the company a buy rating in a report on Saturday, December 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $144.75.
Vulcan Materials (NYSE:VMC) traded up $2.57 during midday trading on Friday, hitting $141.11. The company had a trading volume of 1,558,155 shares, compared to its average volume of 1,270,000. The company has a quick ratio of 3.34, a current ratio of 4.22 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $18,670.00, a PE ratio of 48.16, a PEG ratio of 2.03 and a beta of 0.87. Vulcan Materials has a 12 month low of $108.95 and a 12 month high of $141.20.
Vulcan Materials (NYSE:VMC) last posted its earnings results on Wednesday, November 1st. The construction company reported $1.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.36). Vulcan Materials had a return on equity of 8.71% and a net margin of 10.20%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned $1.01 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. equities analysts anticipate that Vulcan Materials will post 3.01 EPS for the current year.
In other news, insider Michael R. Mills sold 3,738 shares of Vulcan Materials stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $134.56, for a total transaction of $502,985.28. Following the completion of the transaction, the insider now directly owns 44,581 shares in the company, valued at $5,998,819.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael R. Mills sold 4,659 shares of the business’s 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 completion of the transaction, the insider now owns 45,351 shares of the company’s stock, valued at $6,043,020.75. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sun Life Financial INC raised its holdings in Vulcan Materials by 10,666.7% in the 2nd quarter. Sun Life Financial INC now owns 969 shares of the construction company’s stock worth $123,000 after acquiring an additional 960 shares during the last quarter. Cerebellum GP LLC bought a new stake in Vulcan Materials in the 4th quarter worth approximately $133,000. Schroder Investment Management Group bought a new stake in Vulcan Materials in the 2nd quarter worth approximately $187,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Vulcan Materials in the 4th quarter worth approximately $200,000. Finally, FCA Corp TX bought a new stake in Vulcan Materials in the 3rd quarter worth approximately $215,000. Institutional investors own 89.06% of the company’s stock.
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Vulcan Materials Company Profile
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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