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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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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