Vulcan Materials (NYSE:VMC) Given “Buy” Rating at DA Davidson

DA Davidson restated their buy rating on shares of Vulcan Materials (NYSE:VMC) in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a $330.00 price objective on the construction company’s stock.

Other research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vulcan Materials in a report on Tuesday, July 7th. Royal Bank Of Canada boosted their target price on Vulcan Materials from $293.00 to $300.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Oppenheimer assumed coverage on Vulcan Materials in a report on Thursday, May 28th. They issued a “market perform” rating for the company. Finally, UBS Group decreased their price target on Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $325.00.

Vulcan Materials Trading Up 2.5%

NYSE:VMC opened at $246.84 on Monday. Vulcan Materials has a 12-month low of $240.69 and a 12-month high of $331.09. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $271.99 and its 200-day simple moving average is $279.46. The firm has a market cap of $31.99 billion, a P/E ratio of 29.14, a PEG ratio of 2.17 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. Vulcan Materials’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $2.42 EPS. Equities analysts anticipate that Vulcan Materials will post 9.29 EPS for the current year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, August 13th. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. Vulcan Materials’s payout ratio is presently 24.56%.

Insider Activity

In related news, SVP David P. Clement sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $285.10, for a total value of $570,200.00. Following the sale, the senior vice president owned 6,716 shares of the company’s stock, valued at approximately $1,914,731.60. This represents a 22.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J. Hill sold 14,000 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $276.17, for a total value of $3,866,380.00. Following the sale, the director owned 58,209 shares in the company, valued at approximately $16,075,579.53. This trade represents a 19.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vulcan Materials

Hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Vulcan Materials in the second quarter valued at $2,868,444,000. SCS Capital Management LLC purchased a new stake in Vulcan Materials during the 2nd quarter worth $19,628,000. Westfield Capital Management Co. LP lifted its holdings in Vulcan Materials by 7.4% in the 4th quarter. Westfield Capital Management Co. LP now owns 254,044 shares of the construction company’s stock worth $72,459,000 after buying an additional 17,488 shares in the last quarter. Family Legacy Inc. acquired a new position in Vulcan Materials in the 2nd quarter worth $6,403,000. Finally, Palmer Knight Co purchased a new position in Vulcan Materials in the 2nd quarter valued at about $9,458,000. 90.39% of the stock is owned by institutional investors and hedge funds.

About Vulcan Materials

Vulcan Materials Company (NYSE:VMC) is a major U.S. producer and supplier of construction materials. The company’s primary business is aggregates, including crushed stone, sand and gravel, which are used in roads, bridges, buildings and other infrastructure projects.

Vulcan also produces and distributes asphalt and ready-mixed concrete, as well as calcium products used in construction, industrial and other applications. Its products are sold to public-sector customers, contractors, commercial developers and other businesses involved in construction and infrastructure development.

Founded in 1909 and headquartered in Birmingham, Alabama, Vulcan Materials has expanded through organic growth and acquisitions to operate production facilities, distribution terminals and related assets across much of the United States.