Wall Street Zen cut shares of Vulcan Materials (NYSE:VMC – Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.
Several other analysts have also recently commented on VMC. DA Davidson assumed coverage on Vulcan Materials in a research report on Tuesday, August 25th. They issued a “buy” rating and a $330.00 target price for the company. UBS Group dropped their price target on Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Oppenheimer initiated coverage on Vulcan Materials in a research note on Thursday, May 28th. They issued a “market perform” rating for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Vulcan Materials in a research report on Tuesday, July 7th. Finally, Wells Fargo & Company cut Vulcan Materials from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $305.00 to $254.00 in a research note on Wednesday. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $325.00.
View Our Latest Research Report on Vulcan Materials
Vulcan Materials Stock Up 1.1%
Vulcan Materials (NYSE:VMC – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.13. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the business posted $2.42 EPS. The company’s revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that Vulcan Materials will post 9.29 EPS for the current year.
Vulcan Materials Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, August 13th. Vulcan Materials’s payout ratio is currently 24.56%.
Insider Buying and Selling at Vulcan Materials
In other news, SVP David Clement sold 2,212 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $292.29, for a total value of $646,545.48. Following the transaction, the senior vice president directly owned 8,716 shares of the company’s stock, valued at approximately $2,547,599.64. This represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director J. Hill sold 14,000 shares of the stock in a transaction on Friday, August 21st. The stock was 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 of the company’s stock, valued at approximately $16,075,579.53. This represents a 19.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 18,212 shares of company stock worth $5,083,125. 0.65% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Vulcan Materials
A number of hedge funds and other institutional investors have recently made changes to their positions in VMC. Sequoia Financial Advisors LLC lifted its holdings in shares of Vulcan Materials by 45.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,605 shares of the construction company’s stock valued at $1,654,000 after buying an additional 1,747 shares during the last quarter. Tidal Investments LLC increased its holdings in Vulcan Materials by 5.8% in the second quarter. Tidal Investments LLC now owns 37,181 shares of the construction company’s stock worth $10,969,000 after buying an additional 2,041 shares during the last quarter. MCF Advisors LLC raised its position in Vulcan Materials by 18.9% during the second quarter. MCF Advisors LLC now owns 1,044 shares of the construction company’s stock valued at $308,000 after acquiring an additional 166 shares in the last quarter. National Pension Service raised its position in Vulcan Materials by 5.2% during the second quarter. National Pension Service now owns 205,243 shares of the construction company’s stock valued at $60,549,000 after acquiring an additional 10,168 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Vulcan Materials by 2.8% in the second quarter. NewEdge Advisors LLC now owns 31,605 shares of the construction company’s stock valued at $9,324,000 after acquiring an additional 851 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other 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.
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