Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Vulcan Materials from a hold rating to a buy rating and set a $129.00 price target for the company in a report on Wednesday, June 29th. Bank of America Corp. reiterated a buy rating on shares of Vulcan Materials in a report on Friday, June 17th. Argus reiterated a buy rating and issued a $129.00 target price on shares of Vulcan Materials in a report on Wednesday, August 3rd. Jefferies Group reiterated a hold rating on shares of Vulcan Materials in a report on Wednesday, August 31st. Finally, Royal Bank Of Canada lifted their target price on Vulcan Materials from $127.00 to $140.00 and gave the stock an outperform rating in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Vulcan Materials currently has a consensus rating of Buy and an average target price of $130.89.
Shares of Vulcan Materials (NYSE:VMC) opened at 106.47 on Friday. The stock has a market capitalization of $14.17 billion, a PE ratio of 40.62 and a beta of 1.19. Vulcan Materials has a 52 week low of $78.83 and a 52 week high of $127.20. The company has a 50-day moving average price of $112.77 and a 200 day moving average price of $114.84.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Monday, August 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.00 by $0.10. The firm had revenue of $956.80 million for the quarter, compared to analysts’ expectations of $1.01 billion. Vulcan Materials had a net margin of 9.85% and a return on equity of 8.74%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. Equities analysts forecast that Vulcan Materials will post $3.23 EPS for the current fiscal year.
In other Vulcan Materials news, insider David B. Pasley sold 280 shares of Vulcan Materials stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $117.55, for a total transaction of $32,914.00. Following the completion of the sale, the insider now directly owns 2,470 shares of the company’s stock, valued at approximately $290,348.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stanley G. Bass sold 829 shares of Vulcan Materials stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $121.07, for a total value of $100,367.03. Following the sale, the insider now directly owns 15,185 shares of the company’s stock, valued at $1,838,447.95. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.
A number of large investors have recently modified their holdings of VMC. JPMorgan Chase & Co. raised its stake in shares of Vulcan Materials by 50.7% in the second quarter. JPMorgan Chase & Co. now owns 6,193,149 shares of the company’s stock worth $745,409,000 after buying an additional 2,083,983 shares during the period. FMR LLC raised its stake in shares of Vulcan Materials by 219.1% in the second quarter. FMR LLC now owns 1,284,544 shares of the company’s stock worth $154,608,000 after buying an additional 882,046 shares during the period. American Century Companies Inc. raised its stake in shares of Vulcan Materials by 3,591.2% in the second quarter. American Century Companies Inc. now owns 597,944 shares of the company’s stock worth $71,969,000 after buying an additional 581,745 shares during the period. Capital Growth Management LP purchased a new stake in shares of Vulcan Materials during the first quarter worth $56,480,000. Finally, Lone Pine Capital LLC raised its stake in shares of Vulcan Materials by 16.2% in the second quarter. Lone Pine Capital LLC now owns 3,772,719 shares of the company’s stock worth $454,084,000 after buying an additional 525,937 shares during the period. 86.71% of the stock is owned by institutional investors and hedge funds.
About Vulcan Materials
Vulcan Materials Company is a producer of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company has four segments organized around its principal product lines: Aggregates, Asphalt Mix, Concrete and Calcium. The Company operates approximately 344 aggregates facilities.
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