Citigroup Inc. Reaffirms “Buy” Rating for Vulcan Materials Company (VMC)

Citigroup Inc. restated their buy rating on shares of Vulcan Materials Company (NYSE:VMC) in a research note released on Monday morning. They currently have a $140.00 target price on the construction company’s stock, down from their prior target price of $145.00.

Several other equities analysts also recently weighed in on VMC. BidaskClub downgraded shares of Vulcan Materials from a hold rating to a sell rating in a report on Wednesday, July 12th. Jefferies Group LLC set a $114.00 price target on shares of Vulcan Materials and gave the stock a hold rating in a report on Tuesday, August 22nd. Stephens upgraded shares of Vulcan Materials from an equal weight rating to an overweight rating and increased their price target for the stock from $140.00 to $145.00 in a report on Thursday, August 3rd. Royal Bank Of Canada reiterated a buy rating and issued a $154.00 price target on shares of Vulcan Materials in a report on Monday, June 19th. Finally, Zacks Investment Research downgraded shares of Vulcan Materials from a buy rating to a hold rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $137.83.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.32). The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 earnings per share.

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In other news, insider David B. Pasley sold 1,250 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $121.51, for a total transaction of $151,887.50. Following 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael R. Mills sold 981 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $117.55, for a total transaction of $115,316.55. Following the sale, the insider now directly owns 23,871 shares in the company, valued at approximately $2,806,036.05. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of VMC. BlackRock Inc. grew its stake in shares of Vulcan Materials by 2,909.7% during the 1st quarter. BlackRock Inc. now owns 8,067,195 shares of the construction company’s stock worth $971,936,000 after purchasing an additional 7,799,158 shares during the period. Janus Henderson Group PLC grew its stake in shares of Vulcan Materials by 4,985.8% during the 2nd quarter. Janus Henderson Group PLC now owns 4,209,593 shares of the construction company’s stock worth $533,271,000 after purchasing an additional 4,126,822 shares during the period. Third Point LLC acquired a new stake in shares of Vulcan Materials during the 2nd quarter worth approximately $202,688,000. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Vulcan Materials during the 1st quarter worth approximately $138,381,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Vulcan Materials during the 1st quarter worth approximately $138,381,000. 87.13% of the stock is currently owned by institutional investors and hedge funds.

Vulcan Materials Company Profile

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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