Vulcan Materials (VMC) Downgraded by Bank of America to “Underperform”

Bank of America downgraded shares of Vulcan Materials (NYSE:VMC) from a neutral rating to an underperform rating in a report released on Wednesday morning, Marketbeat reports. The brokerage currently has $103.00 price objective on the construction company’s stock.

Several other equities analysts have also commented on the company. Zacks Investment Research lowered Vulcan Materials from a hold rating to a sell rating in a report on Monday, August 6th. Royal Bank of Canada raised Vulcan Materials from a sector perform rating to an outperform rating and set a $97.00 target price on the stock 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 target price on the stock in a report on Wednesday, August 1st. ValuEngine lowered Vulcan Materials from a hold rating to a sell rating in a report on Thursday, July 26th. Finally, DA Davidson set a $118.00 target price on Vulcan Materials and gave the company a hold rating in a report on Thursday, October 11th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $125.80.

Vulcan Materials stock opened at $96.23 on Wednesday. Vulcan Materials has a twelve month low of $95.46 and a twelve month high of $141.20. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.96 and a current ratio of 1.46. The firm has a market cap of $14.71 billion, a PE ratio of 31.65, a P/E/G ratio of 1.05 and a beta of 0.93.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Tuesday, July 31st. The construction company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.14). The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Vulcan Materials had a net margin of 15.72% and a return on equity of 9.46%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company earned $0.89 EPS. Analysts predict that Vulcan Materials will post 4.31 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Wednesday, November 21st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.16%. The ex-dividend date is Tuesday, November 20th. Vulcan Materials’s dividend payout ratio (DPR) is presently 36.84%.

Large investors have recently bought and sold shares of the stock. Mount Yale Investment Advisors LLC grew its holdings in shares of Vulcan Materials by 90.1% during 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 last quarter. Smithfield Trust Co. grew its holdings in shares of Vulcan Materials by 160.5% during the second quarter. Smithfield Trust Co. now owns 1,201 shares of the construction company’s stock worth $155,000 after purchasing an additional 740 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Vulcan Materials during the second quarter worth about $194,000. Advisor Partners LLC purchased a new position in shares of Vulcan Materials during the second quarter worth about $201,000. Finally, Ausdal Financial Partners Inc. purchased a new position in shares of Vulcan Materials during the second quarter worth about $205,000. 97.07% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Vulcan Materials (NYSE:VMC)

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