Wells Fargo & Company Upgrades Vulcan Materials (NYSE:VMC) to "Hold"

Key Points

• Wells Fargo & Company upgraded Vulcan Materials (NYSE: VMC) to a "hold" rating, indicating a shift from previous ratings.
• Barclays and Citigroup have increased their target prices on Vulcan Materials, with Barclays raising it to $305.00 and Citigroup to $321.00.
• Vulcan Materials reported earnings of $2.45 per share, falling short of analysts' expectations of $2.65, despite a year-over-year revenue increase of 4.4%.

Vulcan Materials (NYSE:VMC - Get Free Report) was upgraded by analysts at Wells Fargo & Company to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. Weiss Ratings restated a "buy (b-)" rating on shares of Vulcan Materials in a research report on Wednesday. Barclays raised their target price on shares of Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Citigroup restated a "buy" rating and set a $321.00 target price (up from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. JPMorgan Chase & Co. lifted their price objective on shares of Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Finally, Morgan Stanley lowered their price objective on shares of Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a research report on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Vulcan Materials presently has a consensus rating of "Moderate Buy" and a consensus target price of $308.58.

Vulcan Materials Stock Performance

Shares of VMC opened at $302.74 on Wednesday. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The firm has a market cap of $40.00 billion, a PE ratio of 42.28, a price-to-earnings-growth ratio of 2.49 and a beta of 0.92. The company's 50 day simple moving average is $293.75 and its 200-day simple moving average is $270.44. Vulcan Materials has a 12-month low of $215.08 and a 12-month high of $309.17.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). The business had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The business's revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $2.35 earnings per share. As a group, equities analysts predict that Vulcan Materials will post 8.69 EPS for the current year.

Insiders Place Their Bets

In related news, SVP David P. Clement sold 698 shares of Vulcan Materials stock in a transaction on Friday, September 12th. The shares were sold at an average price of $298.56, for a total value of $208,394.88. Following the transaction, the senior vice president directly owned 2,832 shares in the company, valued at $845,521.92. This trade represents a 19.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.62% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vulcan Materials

Several institutional investors have recently made changes to their positions in VMC. ORG Partners LLC boosted its position in shares of Vulcan Materials by 86.3% during the 2nd quarter. ORG Partners LLC now owns 95 shares of the construction company's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Vulcan Materials during the 1st quarter worth $27,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Vulcan Materials during the 2nd quarter worth $32,000. Concord Wealth Partners purchased a new stake in shares of Vulcan Materials during the 2nd quarter worth $33,000. Finally, Manchester Capital Management LLC boosted its position in shares of Vulcan Materials by 26.9% during the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock worth $43,000 after purchasing an additional 39 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Vulcan Materials Company Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.

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