Vulcan Materials (NYSE:VMC) Downgraded to “Underperform” at Bank of America

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Vulcan Materials (NYSE:VMC) was downgraded by equities researchers at Bank of America from a “neutral” rating to an “underperform” rating in a report released on Wednesday, October 17th, MarketBeat reports. They currently have a $103.00 price objective on the construction company’s stock. Bank of America’s target price would indicate a potential downside of 2.61% from the company’s current price.

VMC has been the subject of several other research reports. Zacks Investment Research raised Vulcan Materials from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Royal Bank of Canada raised Vulcan Materials from a “sector perform” rating to an “outperform” rating and set a $97.00 price objective for the company in a report on Wednesday, August 1st. They noted that the move was a valuation call. Jefferies Financial Group raised Vulcan Materials from a “hold” rating to a “buy” rating and set a $128.00 price objective for the company in a report on Wednesday, August 1st. ValuEngine downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Finally, DA Davidson set a $118.00 price target on Vulcan Materials and gave the company a “hold” rating in a report on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Vulcan Materials currently has an average rating of “Hold” and a consensus target price of $121.45.

NYSE VMC traded down $2.22 during trading hours on Wednesday, reaching $105.76. 1,284,134 shares of the company’s stock were exchanged, compared to its average volume of 2,447,798. Vulcan Materials has a one year low of $82.52 and a one year high of $141.20. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.11 and a current ratio of 1.70. The stock has a market cap of $14.42 billion, a price-to-earnings ratio of 34.79, a PEG ratio of 1.40 and a beta of 0.99.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Tuesday, October 30th. The construction company reported $1.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.40. Vulcan Materials had a return on equity of 10.20% and a net margin of 16.84%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the business earned $1.04 EPS. Vulcan Materials’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, analysts predict that Vulcan Materials will post 3.96 EPS for the current year.

In other news, Chairman J Thomas Hill acquired 1,955 shares of the stock in a transaction on Tuesday, November 6th. The shares were purchased at an average price of $101.66 per share, for a total transaction of $198,745.30. Following the transaction, the chairman now directly owns 57,348 shares of the company’s stock, valued at $5,829,997.68. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.89% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Sumitomo Life Insurance Co. increased its position in shares of Vulcan Materials by 4.5% in the second quarter. Sumitomo Life Insurance Co. now owns 9,549 shares of the construction company’s stock worth $1,232,000 after purchasing an additional 411 shares during the period. Mount Yale Investment Advisors LLC increased its position in shares of Vulcan Materials by 90.1% in the second quarter. Mount Yale Investment Advisors LLC now owns 960 shares of the construction company’s stock worth $124,000 after purchasing an additional 455 shares during the period. Nissay Asset Management Corp Japan ADV increased its position in shares of Vulcan Materials by 2.4% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 20,417 shares of the construction company’s stock worth $2,635,000 after purchasing an additional 483 shares during the period. Howard Capital Management increased its position in shares of Vulcan Materials by 0.4% in the second quarter. Howard Capital Management now owns 113,716 shares of the construction company’s stock worth $14,676,000 after purchasing an additional 496 shares during the period. Finally, Capital Analysts LLC increased its position in shares of Vulcan Materials by 2.4% in the second quarter. Capital Analysts LLC now owns 23,092 shares of the construction company’s stock worth $2,980,000 after purchasing an additional 552 shares during the period. Hedge funds and other institutional investors own 97.86% of the company’s stock.

About Vulcan Materials

Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the 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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