Wall Street Zen Downgrades Vulcan Materials (NYSE:VMC) to Sell

Vulcan Materials (NYSE:VMC) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other brokerages have also commented on VMC. Wells Fargo & Company lowered shares of Vulcan Materials from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $305.00 to $254.00 in a report on Wednesday. Royal Bank Of Canada increased their target price on Vulcan Materials from $293.00 to $300.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. DA Davidson assumed coverage on shares of Vulcan Materials in a report on Tuesday, August 25th. They issued a “buy” rating and a $330.00 target price on the stock. Citigroup cut Vulcan Materials from a “buy” rating to a “cautious” rating in a report on Wednesday. Finally, Oppenheimer initiated coverage on shares of Vulcan Materials in a research report on Thursday, May 28th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Vulcan Materials currently has a consensus rating of “Hold” and a consensus price target of $325.00.

Vulcan Materials Stock Performance

Vulcan Materials stock opened at $253.24 on Friday. The stock has a fifty day moving average price of $277.82 and a two-hundred day moving average price of $282.08. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20. Vulcan Materials has a 52-week low of $246.20 and a 52-week high of $331.09. The firm has a market capitalization of $32.81 billion, a P/E ratio of 29.90, a P/E/G ratio of 2.27 and a beta of 1.05.

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

Insider Buying and Selling at Vulcan Materials

In other news, Director J. Hill sold 14,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 58,209 shares of the company’s stock, valued at $16,075,579.53. This represents a 19.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David Clement sold 2,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $285.10, for a total transaction of $570,200.00. Following the completion of the transaction, the senior vice president directly owned 6,716 shares in the company, valued at approximately $1,914,731.60. This represents a 22.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Burkett Financial Services LLC bought a new position in shares of Vulcan Materials in the second quarter worth $25,000. Meeder Asset Management Inc. increased its position in Vulcan Materials by 71.7% during the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock worth $28,000 after purchasing an additional 43 shares in the last quarter. Birchwood Financial Partners Inc. bought a new position in shares of Vulcan Materials in the 4th quarter valued at $29,000. Measured Wealth Private Client Group LLC bought a new position in Vulcan Materials in the third quarter valued at about $30,000. Finally, Reflection Asset Management bought a new position in Vulcan Materials in the 4th quarter valued at approximately $37,000. 90.39% of the stock is owned by institutional investors.

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.