Vulcan Materials (NYSE:VMC) Rating Increased to Strong-Buy at DA Davidson

DA Davidson upgraded shares of Vulcan Materials (NYSE:VMC) to a strong-buy rating in a report published on Monday,Zacks.com reports.

Several other analysts have also issued reports on VMC. UBS Group decreased their price target on shares of 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 began coverage on Vulcan Materials in a research report on Thursday, May 28th. They issued a “market perform” rating for the company. Raymond James Financial restated an “outperform” rating on shares of Vulcan Materials in a research report on Wednesday, July 15th. Stifel Nicolaus set a $333.00 target price on Vulcan Materials in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada raised their price objective on shares of Vulcan Materials from $293.00 to $300.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Vulcan Materials has an average rating of “Moderate Buy” and an average target price of $328.64.

Vulcan Materials Stock Down 0.7%

Shares of Vulcan Materials stock opened at $274.05 on Monday. Vulcan Materials has a 12-month low of $252.35 and a 12-month high of $331.09. The stock has a market capitalization of $35.51 billion, a P/E ratio of 32.36, a PEG ratio of 1.99 and a beta of 1.06. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average price of $288.31 and a two-hundred day moving average price of $286.97.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. Vulcan Materials’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $2.42 EPS. Equities analysts expect that Vulcan Materials will post 9.29 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be given a $0.52 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.08 annualized dividend and a yield of 0.8%. Vulcan Materials’s payout ratio is presently 24.56%.

Insider Activity at Vulcan Materials

In other news, SVP David P. Clement sold 2,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $285.10, for a total value of $570,200.00. Following the completion of the sale, the senior vice president directly owned 6,716 shares in the company, valued at approximately $1,914,731.60. This trade represents a 22.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.65% of the company’s stock.

Institutional Trading of Vulcan Materials

Hedge funds have recently modified their holdings of the stock. Burkett Financial Services LLC bought a new position in Vulcan Materials in the 2nd quarter valued at $25,000. Meeder Asset Management Inc. boosted its holdings in Vulcan Materials by 71.7% in the first quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock valued at $28,000 after acquiring an additional 43 shares during the last quarter. Birchwood Financial Partners Inc. acquired a new stake in Vulcan Materials in the fourth quarter worth about $29,000. Measured Wealth Private Client Group LLC bought a new stake in Vulcan Materials during the 3rd quarter worth about $30,000. Finally, Reflection Asset Management bought a new position in shares of Vulcan Materials in the 4th quarter valued at about $37,000. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Company Profile

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.