Vulcan Materials Co. (VMC) Downgraded to “Neutral” at Bank of America Corp.
Bank of America Corp. downgraded shares of Vulcan Materials Co. (NYSE:VMC) from a buy rating to a neutral rating in a report published on Wednesday. The analysts noted that the move was a valuation call.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Vulcan Materials from a strong-buy rating to a hold rating in a report on Wednesday, July 27th. Argus reiterated a buy rating and issued a $129.00 price target on shares of Vulcan Materials in a report on Wednesday, August 3rd. Jefferies Group reiterated a hold rating on shares of Vulcan Materials in a report on Wednesday, August 31st. DA Davidson reiterated a hold rating and issued a $120.00 price target on shares of Vulcan Materials in a report on Sunday, October 9th. Finally, SunTrust Banks Inc. upgraded Vulcan Materials from a hold rating to a buy rating and increased their price target for the stock from $110.00 to $129.00 in a report on Wednesday, October 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $130.70.
Vulcan Materials (NYSE:VMC) traded down 1.54% during midday trading on Wednesday, hitting $128.29. The company had a trading volume of 774,957 shares. Vulcan Materials has a 52 week low of $78.83 and a 52 week high of $138.18. The stock has a 50 day moving average price of $115.58 and a 200 day moving average price of $116.78. The company has a market capitalization of $16.97 billion, a P/E ratio of 46.84 and a beta of 1.19.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by $0.18. The company earned $1.01 billion during the quarter, compared to the consensus estimate of $1.12 billion. Vulcan Materials had a net margin of 10.38% and a return on equity of 8.83%. Vulcan Materials’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 earnings per share. Equities analysts forecast that Vulcan Materials will post $3.02 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Wednesday, November 23rd will be given a $0.20 dividend. The ex-dividend date is Monday, November 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.61%. Vulcan Materials’s payout ratio is 29.20%.
In other news, insider David J. Grayson sold 2,121 shares of the firm’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $118.49, for a total value of $251,317.29. Following the completion of the sale, the insider now owns 16,648 shares of the company’s stock, valued at approximately $1,972,621.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Bienville Capital Management LLC boosted its stake in shares of Vulcan Materials by 110.0% in the second quarter. Bienville Capital Management LLC now owns 4,200 shares of the company’s stock worth $506,000 after buying an additional 2,200 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Vulcan Materials by 0.8% in the second quarter. New York State Teachers Retirement System now owns 230,609 shares of the company’s stock worth $27,756,000 after buying an additional 1,901 shares in the last quarter. Caledonia Private Investments Pty Ltd boosted its stake in shares of Vulcan Materials by 19.3% in the first quarter. Caledonia Private Investments Pty Ltd now owns 753,253 shares of the company’s stock worth $79,521,000 after buying an additional 121,944 shares in the last quarter. AGF Investments Inc. boosted its stake in shares of Vulcan Materials by 14.8% in the second quarter. AGF Investments Inc. now owns 707,428 shares of the company’s stock worth $85,132,000 after buying an additional 91,459 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its stake in shares of Vulcan Materials by 11.9% in the second quarter. Guggenheim Capital LLC now owns 487,268 shares of the company’s stock worth $58,646,000 after buying an additional 51,956 shares in the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.
Vulcan Materials Company Profile
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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