Bank of America Corporation Cuts Vulcan Materials Company (VMC) Price Target to $128.00

Vulcan Materials Company (NYSE:VMC) had its price target trimmed by Bank of America Corporation from $130.00 to $128.00 in a research note issued to investors on Thursday. The brokerage currently has a neutral rating on the construction company’s stock.

Several other equities analysts have also recently issued reports on the company. Jefferies Group LLC reiterated a hold rating and set a $122.00 price target on shares of Vulcan Materials in a research report on Friday, October 13th. Royal Bank Of Canada reiterated a buy rating and set a $154.00 price target on shares of Vulcan Materials in a research report on Tuesday, October 10th. Citigroup Inc. reiterated a buy rating and set a $140.00 price target (down from $145.00) on shares of Vulcan Materials in a research report on Monday, October 9th. Zacks Investment Research cut Vulcan Materials from a hold rating to a strong sell rating in a research report on Tuesday, August 8th. Finally, Stephens upgraded Vulcan Materials from an equal weight rating to an overweight rating and lifted their price target for the company from $140.00 to $145.00 in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Vulcan Materials has a consensus rating of Hold and an average target price of $137.57.

Shares of Vulcan Materials (NYSE VMC) opened at 121.61 on Thursday. The firm has a 50-day moving average price of $118.09 and a 200 day moving average price of $122.38. Vulcan Materials has a 12-month low of $108.95 and a 12-month high of $138.18. The firm has a market cap of $16.09 billion, a price-to-earnings ratio of 39.15 and a beta of 0.87.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.32). Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $0.90 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts anticipate that Vulcan Materials will post $3.24 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Tuesday, November 21st. Vulcan Materials’s payout ratio is 32.36%.

In related news, insider David B. Pasley sold 1,250 shares of Vulcan Materials stock in a transaction on Friday, September 1st. The stock was sold at an average price of $121.51, for a total value of $151,887.50. Following the transaction, the insider now directly owns 2,857 shares in the company, valued at approximately $347,154.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael R. Mills sold 981 shares of Vulcan Materials stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $117.55, for a total value 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. Insiders own 0.89% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. APG Asset Management N.V. grew its holdings in shares of Vulcan Materials by 3.6% in the 3rd quarter. APG Asset Management N.V. now owns 201,223 shares of the construction company’s stock worth $24,066,000 after acquiring an additional 7,000 shares during the last quarter. Oakbrook Investments LLC grew its holdings in shares of Vulcan Materials by 26.0% in the 3rd quarter. Oakbrook Investments LLC now owns 12,110 shares of the construction company’s stock worth $1,448,000 after acquiring an additional 2,500 shares during the last quarter. Quantitative Systematic Strategies LLC grew its holdings in shares of Vulcan Materials by 178.1% in the 3rd quarter. Quantitative Systematic Strategies LLC now owns 16,514 shares of the construction company’s stock worth $1,975,000 after acquiring an additional 10,576 shares during the last quarter. Shell Asset Management Co. grew its holdings in shares of Vulcan Materials by 162.7% in the 3rd quarter. Shell Asset Management Co. now owns 22,200 shares of the construction company’s stock worth $1,337,000 after acquiring an additional 13,748 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Vulcan Materials by 10.4% in the 2nd quarter. Lord Abbett & CO. LLC now owns 74,160 shares of the construction company’s stock worth $9,395,000 after acquiring an additional 6,994 shares during the last quarter. Institutional investors and hedge funds own 87.10% 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).

Analyst Recommendations for Vulcan Materials (NYSE:VMC)

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