ValuEngine upgraded shares of Vulcan Materials (NYSE:VMC) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
A number of other research firms also recently issued reports on VMC. Zacks Investment Research downgraded Vulcan Materials from a hold rating to a sell rating in a research report on Sunday, July 15th. Bank of America downgraded Vulcan Materials from a buy rating to a neutral rating and set a $130.00 price target on the stock. in a research report on Wednesday, July 25th. They noted that the move was a valuation call. Royal Bank of Canada raised Vulcan Materials from a sector perform rating to an outperform rating and set a $97.00 price target on the stock in a research report on Wednesday, August 1st. They noted that the move was a valuation call. Jefferies Financial Group raised Vulcan Materials from a hold rating to a buy rating and set a $128.00 price target on the stock in a research report on Wednesday, August 1st. Finally, Argus dropped their price target on Vulcan Materials to $122.00 and set a buy rating on the stock in a research report on Monday, August 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Vulcan Materials currently has an average rating of Hold and a consensus price target of $121.45.
VMC stock opened at $105.76 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.11 and a current ratio of 1.70. Vulcan Materials has a twelve month low of $82.52 and a twelve month high of $141.20. The firm has a market capitalization of $14.42 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99.
Vulcan Materials (NYSE:VMC) last released its earnings results on Tuesday, October 30th. The construction company reported $1.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.40. Vulcan Materials had a return on equity of 10.20% and a net margin of 16.84%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the firm posted $1.04 earnings per share. The business’s revenue was up 13.3% compared to the same quarter last year. Sell-side analysts predict that Vulcan Materials will post 3.96 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Wednesday, November 21st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Tuesday, November 20th. Vulcan Materials’s payout ratio is currently 36.84%.
In related news, Chairman J Thomas Hill acquired 1,955 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were bought at an average price of $101.66 per share, with a total value of $198,745.30. Following the completion of the transaction, the chairman now directly owns 57,348 shares in the company, valued at $5,829,997.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.89% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of VMC. Morgan Stanley boosted its position in Vulcan Materials by 28.1% during the second quarter. Morgan Stanley now owns 6,119,088 shares of the construction company’s stock valued at $789,730,000 after purchasing an additional 1,341,129 shares in the last quarter. Fred Alger Management Inc. boosted its position in Vulcan Materials by 56.3% during the second quarter. Fred Alger Management Inc. now owns 2,644,635 shares of the construction company’s stock valued at $341,317,000 after purchasing an additional 952,138 shares in the last quarter. Millennium Management LLC boosted its position in Vulcan Materials by 210.9% during the second quarter. Millennium Management LLC now owns 1,214,210 shares of the construction company’s stock valued at $156,706,000 after purchasing an additional 823,657 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Vulcan Materials by 19.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,499,127 shares of the construction company’s stock valued at $389,102,000 after purchasing an additional 562,427 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Vulcan Materials by 35.3% during the first quarter. Principal Financial Group Inc. now owns 2,016,741 shares of the construction company’s stock valued at $230,251,000 after purchasing an additional 526,595 shares in the last quarter. 97.86% of the stock is currently owned by institutional investors.
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.
Recommended Story: What is Cost of Capital?
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Vulcan Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vulcan Materials and related companies with MarketBeat.com's FREE daily email newsletter.