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TipRanksStock Market NewsVMC NewsVulcan Materials (VMC): New Buy Recommendation for This Basic Materials Giant
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Vulcan Materials (VMC): New Buy Recommendation for This Basic Materials Giant

Jefferies analyst Philip Ng maintained a Buy rating on Vulcan Materials (VMCResearch Report) yesterday and set a price target of $207.00. The company’s shares opened today at $176.43.

Ng covers the Basic Materials sector, focusing on stocks such as Crown Holdings, Eagle Materials, and Martin Marietta Materials. According to TipRanks, Ng has an average return of 9.6% and a 59.60% success rate on recommended stocks.

In addition to Jefferies, Vulcan Materials also received a Buy from Citigroup’s Anthony Pettinari in a report issued on August 5. However, on the same day, RBC Capital maintained a Hold rating on Vulcan Materials (NYSE: VMC).

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Based on Vulcan Materials’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.95 billion and a net profit of $187.3 million. In comparison, last year the company earned a revenue of $1.36 billion and had a net profit of $195.3 million

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VMC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Vulcan Materials Co. engages in the provision of basic materials and supply for infrastructure and construction industry. It operates through the following business segments: Aggregates, Asphalt, Concrete and Calcium. The Aggregates segment produces and sells asphalt mix and ready-mixed concrete primarily in its mid-Atlantic, Georgia, Southwestern, Tennessee and Western markets. The Asphalt segment produces and sells asphalt mix in Arizona, California, New Mexico, Tennessee, and Texas. The Concrete segment produces and sells ready-mixed concrete in California, Georgia, Maryland, New Mexico, Texas, Virginia, Washington D.C., and the Bahamas. The Calcium segment produces calcium products for the animal feed, plastics, and water treatment industries with calcium carbonate material mined at the Brooksville quarry. The company was founded in 1909 and is headquartered in Birmingham, AL.

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