Traders Buy Vulcan Materials Co. (VMC) on Weakness
Traders bought shares of Vulcan Materials Co. (NYSE:VMC) on weakness during trading hours on Thursday. $33.41 million flowed into the stock on the tick-up and $25.31 million flowed out of the stock on the tick-down, for a money net flow of $8.10 million into the stock. Of all companies tracked, Vulcan Materials had the 20th highest net in-flow for the day. Vulcan Materials traded down ($0.44) for the day and closed at $121.10
VMC has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Vulcan Materials from a “hold” rating to a “strong-buy” rating and set a $144.00 target price on the stock in a research report on Monday, July 18th. Royal Bank Of Canada boosted their target price on Vulcan Materials from $127.00 to $140.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 12th. Alembic Global Advisors initiated coverage on Vulcan Materials in a research report on Thursday, June 9th. They set a “neutral” rating and a $125.00 target price on the stock. Argus reiterated a “buy” rating and set a $129.00 target price on shares of Vulcan Materials in a research report on Wednesday, August 3rd. Finally, Goldman Sachs Group Inc. cut Vulcan Materials from a “conviction-buy” rating to a “buy” rating and boosted their price target for the stock from $128.00 to $146.00 in a report on Wednesday, June 8th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $128.22.
The stock has a market capitalization of $16.11 billion and a P/E ratio of 46.20. The company has a 50 day moving average of $121.72 and a 200 day moving average of $109.83.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings data 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. During the same period in the previous year, the company posted $0.35 earnings per share. The firm earned $956.80 million during the quarter, compared to analyst estimates of $1.01 billion. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts anticipate that Vulcan Materials Co. will post $3.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Wednesday, August 24th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Monday, August 22nd.
In other news, insider David J. Grayson sold 2,025 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $118.77, for a total value of $240,509.25. Following the completion of the sale, the insider now owns 18,637 shares of the company’s stock, valued at $2,213,516.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David P. Clement sold 1,255 shares of the firm’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $113.17, for a total value of $142,028.35. Following the completion of the sale, the insider now directly owns 1,021 shares of the company’s stock, valued at approximately $115,546.57. The disclosure for this sale can be found here.
Several hedge funds have modified their holdings of VMC. Aberdeen Asset Management PLC UK boosted its stake in shares of Vulcan Materials by 29.0% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 25,815 shares of the company’s stock valued at $2,409,000 after buying an additional 5,802 shares during the period. Andra AP fonden boosted its stake in shares of Vulcan Materials by 4.9% in the fourth quarter. Andra AP fonden now owns 27,800 shares of the company’s stock valued at $2,640,000 after buying an additional 1,300 shares during the period. Advantus Capital Management Inc boosted its stake in shares of Vulcan Materials by 3.4% in the fourth quarter. Advantus Capital Management Inc now owns 12,936 shares of the company’s stock valued at $1,229,000 after buying an additional 421 shares during the period. Suntrust Banks Inc. boosted its stake in shares of Vulcan Materials by 1,023.1% in the fourth quarter. Suntrust Banks Inc. now owns 26,156 shares of the company’s stock valued at $2,484,000 after buying an additional 23,827 shares during the period. Finally, Eaton Vance Management boosted its stake in shares of Vulcan Materials by 10.5% in the fourth quarter. Eaton Vance Management now owns 32,619 shares of the company’s stock valued at $3,098,000 after buying an additional 3,097 shares during the period.
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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