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

Key Points

• DA Davidson upgraded Vulcan Materials to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $328.64.
• Vulcan Materials reported quarterly earnings of $2.59 per share, beating estimates of $2.46, while revenue reached $2.16 billion and increased 2.5% year over year.
• Shares opened at $274.05, down 0.7%, and institutional investors own a substantial 90.39% of the company; an SVP also sold 2,000 shares at an average price of $285.10.

Vulcan Materials (NYSE:VMC - Get Free Report) was upgraded by DA Davidson to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on VMC. Raymond James Financial restated an "outperform" rating on shares of Vulcan Materials in a research report on Wednesday, July 15th. Barclays increased their target price on shares of Vulcan Materials from $296.00 to $340.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Oppenheimer assumed coverage on shares of Vulcan Materials in a research note on Thursday, May 28th. They set a "market perform" rating for the company. Stifel Nicolaus set a $333.00 price target on shares of Vulcan Materials in a report on Thursday, April 30th. Finally, Berenberg Bank set a $283.00 price objective on shares of Vulcan Materials and gave the stock a "hold" rating in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $328.64.

Vulcan Materials Stock Down 0.7%

Shares of NYSE:VMC opened at $274.05 on Monday. The company has a market cap of $35.51 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 1.99 and a beta of 1.06. Vulcan Materials has a 12 month low of $252.35 and a 12 month high of $331.09. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $288.31 and a 200 day moving average price of $286.97.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.14 billion. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The firm's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.42 earnings per share. As a group, equities research analysts predict that Vulcan Materials will post 9.29 earnings per share for the current year.

Insider Activity

In other news, SVP David P. Clement sold 2,000 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $285.10, for a total transaction of $570,200.00. Following the completion of the sale, the senior vice president directly owned 6,716 shares of the company's stock, valued at approximately $1,914,731.60. The trade was a 22.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.65% of the company's stock.

Institutional Investors Weigh In On Vulcan Materials

Several large investors have recently added to or reduced their stakes in VMC. Atria Investments Inc raised its stake in shares of Vulcan Materials by 54.1% in the fourth quarter. Atria Investments Inc now owns 12,334 shares of the construction company's stock worth $3,518,000 after purchasing an additional 4,331 shares during the last quarter. SCS Capital Management LLC purchased a new stake in Vulcan Materials in the second quarter valued at approximately $19,628,000. BlackRock Inc. acquired a new position in Vulcan Materials in the 2nd quarter worth approximately $2,868,444,000. Westfield Capital Management Co. LP increased its holdings in Vulcan Materials by 7.4% in the 4th quarter. Westfield Capital Management Co. LP now owns 254,044 shares of the construction company's stock worth $72,459,000 after buying an additional 17,488 shares during the period. Finally, Palmer Knight Co purchased a new position in Vulcan Materials during the 2nd quarter worth approximately $9,458,000. 90.39% of the stock is owned by hedge funds and other 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.

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