Vulcan Materials Company (VMC) PT Raised to $128.00 at Jefferies Group LLC
Vulcan Materials Company (NYSE:VMC) had its price objective increased by stock analysts at Jefferies Group LLC from $122.00 to $128.00 in a research report issued to clients and investors on Friday. The firm currently has a “hold” rating on the construction company’s stock. Jefferies Group LLC’s target price indicates a potential upside of 1.24% from the stock’s previous close.
VMC has been the topic of several other research reports. BidaskClub lowered shares of Vulcan Materials from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and set a $154.00 price objective on shares of Vulcan Materials in a report on Tuesday, October 10th. Stephens upgraded shares of Vulcan Materials from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $140.00 to $145.00 in a report on Thursday, August 3rd. Bank of America Corporation dropped their price objective on shares of Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating on the stock in a report on Thursday, October 19th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $140.00 price objective (down previously from $145.00) on shares of Vulcan Materials in a report on Monday, October 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Vulcan Materials currently has a consensus rating of “Hold” and a consensus price target of $140.00.
Vulcan Materials (VMC) traded up $5.41 during mid-day trading on Friday, reaching $126.43. 1,557,944 shares of the company traded hands, compared to its average volume of 1,196,305. The firm has a market cap of $16,437.81, a price-to-earnings ratio of 41.84 and a beta of 0.86.
Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Wednesday, November 1st. The construction company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.40 by ($0.36). Vulcan Materials had a net margin of 10.20% and a return on equity of 8.77%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company posted $1.01 EPS. Vulcan Materials’s revenue for the quarter was up 8.6% on a year-over-year basis. sell-side analysts expect that Vulcan Materials will post 3.07 EPS for the current fiscal year.
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In other Vulcan Materials news, insider David B. Pasley sold 1,250 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $121.51, for a total value of $151,887.50. Following the completion of the sale, the insider now directly owns 2,857 shares of the company’s stock, valued at approximately $347,154.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael R. Mills sold 981 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $117.55, for a total transaction of $115,316.55. Following the completion of the transaction, the insider now owns 23,871 shares in the company, valued at $2,806,036.05. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global X MANAGEMENT CO LLC boosted its stake in Vulcan Materials by 20.9% in the third quarter. Global X MANAGEMENT CO LLC now owns 7,222 shares of the construction company’s stock valued at $864,000 after acquiring an additional 1,247 shares during the last quarter. Jennison Associates LLC boosted its stake in Vulcan Materials by 2.2% in the third quarter. Jennison Associates LLC now owns 595,413 shares of the construction company’s stock valued at $71,211,000 after acquiring an additional 12,892 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its stake in Vulcan Materials by 29.1% in the third quarter. Candriam Luxembourg S.C.A. now owns 72,900 shares of the construction company’s stock valued at $8,719,000 after acquiring an additional 16,428 shares during the last quarter. Pax World Management LLC boosted its stake in Vulcan Materials by 58.3% in the third quarter. Pax World Management LLC now owns 95,000 shares of the construction company’s stock valued at $11,362,000 after acquiring an additional 35,000 shares during the last quarter. Finally, Princeton Capital Management Inc. boosted its stake in Vulcan Materials by 16.7% in the third quarter. Princeton Capital Management Inc. now owns 13,657 shares of the construction company’s stock valued at $1,633,000 after acquiring an additional 1,954 shares during the last quarter. Hedge funds and other institutional investors own 86.79% 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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