Vulcan Materials Company (VMC) Earns Hold Rating from Jefferies Group LLC
Jefferies Group LLC reissued their hold rating on shares of Vulcan Materials Company (NYSE:VMC) in a research note published on Friday morning. Jefferies Group LLC currently has a $122.00 price objective on the construction company’s stock. Jefferies Group also issued estimates for Vulcan Materials’ Q3 2017 earnings at $0.82 EPS, Q4 2017 earnings at $0.76 EPS, FY2017 earnings at $2.82 EPS, Q1 2018 earnings at $0.30 EPS, Q2 2018 earnings at $1.12 EPS, Q3 2018 earnings at $1.20 EPS, Q4 2018 earnings at $1.00 EPS, FY2018 earnings at $3.62 EPS and FY2019 earnings at $4.69 EPS.
Other research analysts also recently issued reports about the company. Royal Bank Of Canada reaffirmed a buy rating and set a $154.00 target price on shares of Vulcan Materials in a research note on Monday, June 19th. Citigroup Inc. reaffirmed a buy rating and set a $140.00 target price (down from $145.00) on shares of Vulcan Materials in a research note on Monday, October 9th. Zacks Investment Research downgraded Vulcan Materials from a buy rating to a hold rating in a research note on Friday, July 28th. Stephens raised Vulcan Materials from an equal weight rating to an overweight rating and upped their target price for the stock from $140.00 to $145.00 in a research note on Thursday, August 3rd. Finally, BidaskClub downgraded Vulcan Materials from a hold rating to a sell rating in a research note on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Vulcan Materials currently has a consensus rating of Hold and an average price target of $139.17.
Shares of Vulcan Materials (VMC) opened at 116.28 on Friday. The firm’s 50-day moving average is $118.11 and its 200-day moving average is $122.45. Vulcan Materials has a one year low of $108.37 and a one year high of $138.18. The stock has a market capitalization of $15.38 billion, a price-to-earnings ratio of 37.44 and a beta of 0.87.
Vulcan Materials (NYSE:VMC) last announced its earnings results on Wednesday, August 2nd. The construction company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.32). The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 earnings per share. Equities research analysts forecast that Vulcan Materials will post $3.26 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.86%. Vulcan Materials’s payout ratio is 32.36%.
In related news, insider Michael R. Mills sold 981 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $117.55, for a total transaction of $115,316.55. Following the completion of the sale, the insider now directly owns 23,871 shares in the company, valued at $2,806,036.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David B. Pasley sold 1,250 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $121.51, for a total value of $151,887.50. Following the sale, the insider now owns 2,857 shares of the company’s stock, valued at $347,154.07. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Vulcan Materials by 2.7% during the second quarter. Vanguard Group Inc. now owns 13,385,889 shares of the construction company’s stock worth $1,695,724,000 after purchasing an additional 346,085 shares in the last quarter. BlackRock Inc. increased its position in shares of Vulcan Materials by 2,909.7% during the first quarter. BlackRock Inc. now owns 8,067,195 shares of the construction company’s stock worth $971,936,000 after purchasing an additional 7,799,158 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Vulcan Materials by 2.7% during the second quarter. JPMorgan Chase & Co. now owns 4,774,421 shares of the construction company’s stock worth $604,822,000 after purchasing an additional 127,405 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Vulcan Materials by 4,985.8% during the second quarter. Janus Henderson Group PLC now owns 4,209,593 shares of the construction company’s stock worth $533,271,000 after purchasing an additional 4,126,822 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Vulcan Materials by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 2,617,707 shares of the construction company’s stock worth $331,609,000 after purchasing an additional 58,520 shares in the last quarter. Hedge funds and other institutional investors own 87.13% of the company’s stock.
Vulcan Materials Company Profile
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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