Vulcan Materials Company (NYSE:VMC) Price Target Raised to $128.00 at Jefferies Group LLC

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.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Wednesday, November 1st. The construction company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.36). Vulcan Materials had a return on equity of 8.71% and a net margin of 10.20%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. Vulcan Materials’s quarterly revenue was up 8.6% on a year-over-year basis. sell-side analysts expect that Vulcan Materials will post 3.04 earnings per share for the current fiscal year.

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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).

Analyst Recommendations for Vulcan Materials (NYSE:VMC)

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