Vulcan Materials Company (NYSE:VMC) had its target price hoisted by Jefferies Group LLC from $122.00 to $128.00 in a research note released on Friday, November 3rd. The firm currently has a hold rating on the construction company’s stock. Jefferies Group also issued estimates for Vulcan Materials’ Q4 2017 earnings at $0.77 EPS, FY2017 earnings at $3.05 EPS, Q1 2018 earnings at $0.41 EPS, Q2 2018 earnings at $1.23 EPS and FY2019 earnings at $5.02 EPS.
VMC has been the topic of a number of other reports. BidaskClub cut Vulcan Materials from a hold rating to a sell rating in a report on Wednesday, July 12th. Royal Bank Of Canada reiterated a buy rating and issued a $154.00 target price on shares of Vulcan Materials in a report on Tuesday, October 10th. Stephens upgraded Vulcan Materials from an equal weight rating to an overweight rating and increased their target price for the stock from $140.00 to $145.00 in a report on Thursday, August 3rd. Bank of America Corporation cut their target price on Vulcan Materials from $130.00 to $128.00 and set a neutral rating on the stock in a report on Thursday, October 19th. Finally, Citigroup Inc. restated a buy rating and set a $140.00 price objective (down from $145.00) on shares of Vulcan Materials in a research note on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $140.00.
Vulcan Materials (NYSE VMC) traded up $0.11 during trading on Friday, hitting $122.85. The company’s stock had a trading volume of 609,875 shares, compared to its average volume of 1,260,353. The company has a market cap of $16,250.00, a PE ratio of 41.71, a price-to-earnings-growth ratio of 2.42 and a beta of 0.86. Vulcan Materials has a 52-week low of $108.95 and a 52-week high of $136.82. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.22 and a quick ratio of 3.34.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Tuesday, November 21st. Vulcan Materials’s dividend payout ratio is presently 34.13%.
In related news, insider David B. Pasley sold 1,250 shares of Vulcan Materials stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $121.51, for a total value of $151,887.50. Following the completion of the sale, the insider now owns 2,857 shares of the company’s stock, valued at approximately $347,154.07. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael R. Mills sold 981 shares of Vulcan Materials stock in a transaction dated 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 sale, the insider now directly owns 23,871 shares of the company’s stock, valued at approximately $2,806,036.05. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new stake in Vulcan Materials in the 3rd quarter worth about $232,000. IFM Investors Pty Ltd purchased a new stake in Vulcan Materials in the 3rd quarter worth about $475,000. California Public Employees Retirement System increased its holdings in Vulcan Materials by 5.1% in the 3rd quarter. California Public Employees Retirement System now owns 286,075 shares of the construction company’s stock worth $34,215,000 after acquiring an additional 13,975 shares during the last quarter. Bamco Inc. NY increased its holdings in Vulcan Materials by 14.7% in the 3rd quarter. Bamco Inc. NY now owns 303,818 shares of the construction company’s stock worth $36,337,000 after acquiring an additional 38,932 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Vulcan Materials by 116.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,038,752 shares of the construction company’s stock worth $124,235,000 after acquiring an additional 558,900 shares during the last quarter. 87.28% of the stock is owned by institutional investors.
About Vulcan Materials
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).
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