Vulcan Materials (NYSE:VMC) Stock Rating Reaffirmed as “Buy” by DA Davidson

Vulcan Materials (NYSE:VMC)‘s stock had its “buy” rating reissued by equities researchers at DA Davidson in a note issued to investors on Monday, September 21st, Benzinga reports. They currently have a $330.00 price target on the construction company’s stock. DA Davidson’s target price would indicate a potential upside of 34.43% from the stock’s previous close.

Several other research firms have also commented on VMC. Wells Fargo & Company lowered shares of Vulcan Materials from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $305.00 to $254.00 in a research report on Wednesday, September 9th. Berenberg Bank set a $283.00 price target on shares of Vulcan Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. Raymond James Financial restated an “outperform” rating on shares of Vulcan Materials in a research report on Wednesday, July 15th. Royal Bank Of Canada increased their target price on Vulcan Materials from $293.00 to $300.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Finally, Oppenheimer started coverage on Vulcan Materials in a report on Thursday, May 28th. They issued a “market perform” rating for the company. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $325.00.

Vulcan Materials Price Performance

NYSE VMC traded up $0.48 during mid-day trading on Monday, hitting $245.48. The stock had a trading volume of 488,197 shares, compared to its average volume of 1,155,689. The company has a 50 day simple moving average of $268.29 and a 200 day simple moving average of $278.39. The company has a market cap of $31.81 billion, a price-to-earnings ratio of 28.99, a P/E/G ratio of 2.36 and a beta of 1.05. Vulcan Materials has a 52-week low of $240.69 and a 52-week high of $331.09. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47.

Vulcan Materials (NYSE:VMC) last posted its earnings results 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 return on equity of 13.05% and a net margin of 13.75%.The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the business earned $2.42 earnings per share. Vulcan Materials’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities analysts forecast that Vulcan Materials will post 9.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Vulcan Materials news, Director J. Hill sold 14,000 shares of Vulcan Materials stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $276.17, for a total value of $3,866,380.00. Following the completion of the sale, the director directly owned 58,209 shares of the company’s stock, valued at approximately $16,075,579.53. The trade was a 19.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David Clement sold 2,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $285.10, for a total value of $570,200.00. Following the completion of the transaction, the senior vice president owned 6,716 shares of the company’s stock, valued at $1,914,731.60. This trade represents a 22.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vulcan Materials

Institutional investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. grew its holdings in Vulcan Materials by 8.2% in the 2nd quarter. QRG Capital Management Inc. now owns 21,620 shares of the construction company’s stock valued at $6,378,000 after buying an additional 1,644 shares during the period. Anchor Investment Management LLC boosted its position in shares of Vulcan Materials by 8.7% in the second quarter. Anchor Investment Management LLC now owns 925 shares of the construction company’s stock worth $273,000 after acquiring an additional 74 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Vulcan Materials by 45.3% in the second quarter. Sequoia Financial Advisors LLC now owns 5,605 shares of the construction company’s stock valued at $1,654,000 after purchasing an additional 1,747 shares during the period. Tidal Investments LLC grew 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 valued at $10,969,000 after purchasing an additional 2,041 shares during the period. Finally, MCF Advisors LLC increased 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 worth $308,000 after purchasing an additional 166 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.