According to Zacks, “Vulcan Materials missed the Zacks Consensus Estimate for both earnings and sales in the second quarter of 2016. While profits were strong, sales in the quarter were hurt by below-trend shipment growth due to an extremely wet weather and slower than expected large project starts in the quarter. Though the company maintained its aggregates 2016 shipment guidance, it cautioned that achieving the plan will require a favorable weather in second half and ramping of large infrastructure project work. Overall, the company’s strong aggregate reserve position, pricing power, consistent profit improvements, divestitures of non-strategic operations and significant debt reduction are encouraging. However, construction labor shortages and other bottlenecks are partially hurting demand growth.”
Several other brokerages also recently commented on VMC. Argus reiterated a buy rating and set a $129.00 target price on shares of Vulcan Materials in a research note on Wednesday, August 3rd. Goldman Sachs Group Inc. downgraded Vulcan Materials from a conviction-buy rating to a buy rating and increased their target price for the company from $128.00 to $146.00 in a research note on Wednesday, June 8th. Alembic Global Advisors assumed coverage on Vulcan Materials in a report on Thursday, June 9th. They set a neutral rating and a $125.00 price target on the stock. Jefferies Group reissued a hold rating on shares of Vulcan Materials in a report on Wednesday, August 31st. Finally, Bank of America Corp. reissued a buy rating on shares of Vulcan Materials in a report on Friday, June 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $130.89.
Vulcan Materials (NYSE:VMC) opened at 106.47 on Tuesday. The stock has a market capitalization of $14.17 billion, a PE ratio of 40.62 and a beta of 1.19. Vulcan Materials has a 52-week low of $78.83 and a 52-week high of $127.20. The company’s 50-day moving average price is $112.77 and its 200 day moving average price is $114.84.
Vulcan Materials (NYSE:VMC) last issued its earnings results on Monday, August 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.00 by $0.10. Vulcan Materials had a net margin of 9.85% and a return on equity of 8.74%. The business had revenue of $956.80 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the business posted $0.35 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts forecast that Vulcan Materials will post $3.23 EPS for the current fiscal year.
In other Vulcan Materials news, insider Stanley G. Bass sold 829 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $121.07, for a total transaction of $100,367.03. Following the sale, the insider now directly owns 15,185 shares of the company’s stock, valued at $1,838,447.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David B. Pasley sold 280 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $117.55, for a total value of $32,914.00. Following the sale, the insider now directly owns 2,470 shares in the company, valued at $290,348.50. The disclosure for this sale can be found here. 0.92% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of VMC. Credit Agricole S A boosted its stake in Vulcan Materials by 16.2% in the first quarter. Credit Agricole S A now owns 26,417 shares of the company’s stock worth $2,789,000 after buying an additional 3,687 shares in the last quarter. Aviva PLC boosted its stake in Vulcan Materials by 1.3% in the first quarter. Aviva PLC now owns 67,652 shares of the company’s stock worth $7,142,000 after buying an additional 896 shares in the last quarter. ING Groep NV acquired a new stake in Vulcan Materials during the first quarter worth approximately $325,000. Huntington Asset Advisors Inc. acquired a new stake in Vulcan Materials during the first quarter worth approximately $566,000. Finally, M&T Bank Corp boosted its stake in Vulcan Materials by 11.4% in the first quarter. M&T Bank Corp now owns 19,305 shares of the company’s stock worth $2,038,000 after buying an additional 1,973 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.
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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