Intrinsic value of Vulcan Materials - VMC

Previous Close

$111.36

  Intrinsic Value

$15.34

stock screener

  Rating & Target

str. sell

-86%

Previous close

$111.36

 
Intrinsic value

$15.34

 
Up/down potential

-86%

 
Rating

str. sell

We calculate the intrinsic value of VMC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 14.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.30
  7.97
  7.67
  7.41
  7.17
  6.95
  6.75
  6.58
  6.42
  6.28
  6.15
  6.04
  5.93
  5.84
  5.75
  5.68
  5.61
  5.55
  5.50
  5.45
  5.40
  5.36
  5.32
  5.29
  5.26
  5.24
  5.21
  5.19
  5.17
  5.16
Revenue, $m
  4,213
  4,549
  4,898
  5,260
  5,637
  6,029
  6,436
  6,860
  7,300
  7,758
  8,235
  8,733
  9,251
  9,791
  10,354
  10,942
  11,556
  12,198
  12,868
  13,569
  14,302
  15,068
  15,871
  16,711
  17,590
  18,511
  19,476
  20,488
  21,547
  22,658
Variable operating expenses, $m
  3,382
  3,618
  3,864
  4,119
  4,384
  4,659
  4,946
  5,244
  5,553
  5,876
  5,793
  6,142
  6,507
  6,887
  7,283
  7,697
  8,129
  8,580
  9,051
  9,544
  10,060
  10,599
  11,163
  11,754
  12,373
  13,021
  13,699
  14,411
  15,156
  15,938
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  3,382
  3,618
  3,864
  4,119
  4,384
  4,659
  4,946
  5,244
  5,553
  5,876
  5,793
  6,142
  6,507
  6,887
  7,283
  7,697
  8,129
  8,580
  9,051
  9,544
  10,060
  10,599
  11,163
  11,754
  12,373
  13,021
  13,699
  14,411
  15,156
  15,938
Operating income, $m
  831
  931
  1,034
  1,142
  1,253
  1,370
  1,490
  1,616
  1,747
  1,883
  2,443
  2,590
  2,744
  2,904
  3,071
  3,246
  3,428
  3,618
  3,817
  4,025
  4,242
  4,469
  4,707
  4,957
  5,217
  5,491
  5,777
  6,077
  6,391
  6,721
EBITDA, $m
  2,074
  2,239
  2,411
  2,590
  2,775
  2,968
  3,169
  3,377
  3,594
  3,819
  4,054
  4,299
  4,554
  4,820
  5,097
  5,387
  5,689
  6,005
  6,335
  6,680
  7,041
  7,418
  7,813
  8,227
  8,660
  9,113
  9,588
  10,086
  10,608
  11,155
Interest expense (income), $m
  135
  348
  394
  442
  492
  543
  597
  653
  711
  771
  834
  899
  967
  1,037
  1,111
  1,188
  1,268
  1,352
  1,439
  1,530
  1,626
  1,726
  1,830
  1,939
  2,053
  2,173
  2,298
  2,429
  2,566
  2,710
  2,861
Earnings before tax, $m
  483
  536
  592
  650
  710
  773
  838
  905
  976
  1,049
  1,544
  1,623
  1,706
  1,793
  1,883
  1,977
  2,076
  2,179
  2,286
  2,399
  2,516
  2,640
  2,769
  2,903
  3,045
  3,193
  3,348
  3,511
  3,681
  3,860
Tax expense, $m
  130
  145
  160
  175
  192
  209
  226
  244
  263
  283
  417
  438
  461
  484
  508
  534
  560
  588
  617
  648
  679
  713
  747
  784
  822
  862
  904
  948
  994
  1,042
Net income, $m
  352
  391
  432
  474
  518
  564
  612
  661
  712
  766
  1,127
  1,185
  1,246
  1,309
  1,375
  1,444
  1,515
  1,590
  1,669
  1,751
  1,837
  1,927
  2,021
  2,120
  2,223
  2,331
  2,444
  2,563
  2,687
  2,818

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  10,300
  11,121
  11,975
  12,862
  13,783
  14,741
  15,736
  16,772
  17,848
  18,969
  20,136
  21,351
  22,618
  23,938
  25,316
  26,754
  28,255
  29,823
  31,462
  33,175
  34,967
  36,842
  38,804
  40,857
  43,008
  45,260
  47,619
  50,092
  52,683
  55,399
Adjusted assets (=assets-cash), $m
  10,300
  11,121
  11,975
  12,862
  13,783
  14,741
  15,736
  16,772
  17,848
  18,969
  20,136
  21,351
  22,618
  23,938
  25,316
  26,754
  28,255
  29,823
  31,462
  33,175
  34,967
  36,842
  38,804
  40,857
  43,008
  45,260
  47,619
  50,092
  52,683
  55,399
Revenue / Adjusted assets
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
  0.409
Average production assets, $m
  8,245
  8,902
  9,585
  10,295
  11,032
  11,799
  12,596
  13,424
  14,286
  15,183
  16,117
  17,090
  18,103
  19,160
  20,263
  21,414
  22,616
  23,871
  25,183
  26,554
  27,988
  29,489
  31,059
  32,703
  34,424
  36,227
  38,115
  40,094
  42,168
  44,342
Working capital, $m
  202
  218
  235
  252
  271
  289
  309
  329
  350
  372
  395
  419
  444
  470
  497
  525
  555
  585
  618
  651
  686
  723
  762
  802
  844
  889
  935
  983
  1,034
  1,088
Total debt, $m
  3,232
  3,624
  4,031
  4,454
  4,893
  5,350
  5,825
  6,319
  6,833
  7,367
  7,924
  8,503
  9,108
  9,737
  10,395
  11,080
  11,797
  12,545
  13,326
  14,144
  14,998
  15,892
  16,828
  17,808
  18,834
  19,908
  21,033
  22,213
  23,449
  24,744
Total liabilities, $m
  4,913
  5,305
  5,712
  6,135
  6,575
  7,031
  7,506
  8,000
  8,514
  9,048
  9,605
  10,184
  10,789
  11,418
  12,076
  12,761
  13,478
  14,226
  15,007
  15,825
  16,679
  17,574
  18,509
  19,489
  20,515
  21,589
  22,714
  23,894
  25,130
  26,425
Total equity, $m
  5,387
  5,816
  6,263
  6,727
  7,209
  7,709
  8,230
  8,772
  9,335
  9,921
  10,531
  11,167
  11,829
  12,520
  13,240
  13,992
  14,777
  15,597
  16,455
  17,351
  18,288
  19,268
  20,294
  21,368
  22,493
  23,671
  24,905
  26,198
  27,553
  28,974
Total liabilities and equity, $m
  10,300
  11,121
  11,975
  12,862
  13,784
  14,740
  15,736
  16,772
  17,849
  18,969
  20,136
  21,351
  22,618
  23,938
  25,316
  26,753
  28,255
  29,823
  31,462
  33,176
  34,967
  36,842
  38,803
  40,857
  43,008
  45,260
  47,619
  50,092
  52,683
  55,399
Debt-to-equity ratio
  0.600
  0.620
  0.640
  0.660
  0.680
  0.690
  0.710
  0.720
  0.730
  0.740
  0.750
  0.760
  0.770
  0.780
  0.790
  0.790
  0.800
  0.800
  0.810
  0.820
  0.820
  0.820
  0.830
  0.830
  0.840
  0.840
  0.840
  0.850
  0.850
  0.850
Adjusted equity ratio
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  352
  391
  432
  474
  518
  564
  612
  661
  712
  766
  1,127
  1,185
  1,246
  1,309
  1,375
  1,444
  1,515
  1,590
  1,669
  1,751
  1,837
  1,927
  2,021
  2,120
  2,223
  2,331
  2,444
  2,563
  2,687
  2,818
Depreciation, amort., depletion, $m
  1,243
  1,309
  1,377
  1,448
  1,522
  1,598
  1,678
  1,761
  1,847
  1,937
  1,612
  1,709
  1,810
  1,916
  2,026
  2,141
  2,262
  2,387
  2,518
  2,655
  2,799
  2,949
  3,106
  3,270
  3,442
  3,623
  3,812
  4,009
  4,217
  4,434
Funds from operations, $m
  1,595
  1,700
  1,809
  1,922
  2,040
  2,163
  2,290
  2,422
  2,559
  2,703
  2,739
  2,894
  3,056
  3,225
  3,401
  3,585
  3,777
  3,978
  4,187
  4,407
  4,636
  4,876
  5,127
  5,390
  5,665
  5,953
  6,256
  6,572
  6,904
  7,252
Change in working capital, $m
  15
  16
  17
  17
  18
  19
  20
  20
  21
  22
  23
  24
  25
  26
  27
  28
  29
  31
  32
  34
  35
  37
  39
  40
  42
  44
  46
  49
  51
  53
Cash from operations, $m
  1,580
  1,684
  1,792
  1,905
  2,022
  2,144
  2,270
  2,402
  2,538
  2,681
  2,716
  2,870
  3,031
  3,199
  3,374
  3,557
  3,747
  3,947
  4,155
  4,373
  4,601
  4,839
  5,088
  5,349
  5,623
  5,909
  6,209
  6,524
  6,853
  7,199
Maintenance CAPEX, $m
  -762
  -824
  -890
  -958
  -1,029
  -1,103
  -1,180
  -1,260
  -1,342
  -1,429
  -1,518
  -1,612
  -1,709
  -1,810
  -1,916
  -2,026
  -2,141
  -2,262
  -2,387
  -2,518
  -2,655
  -2,799
  -2,949
  -3,106
  -3,270
  -3,442
  -3,623
  -3,812
  -4,009
  -4,217
New CAPEX, $m
  -629
  -657
  -683
  -710
  -738
  -767
  -797
  -829
  -862
  -897
  -934
  -973
  -1,014
  -1,057
  -1,103
  -1,151
  -1,202
  -1,255
  -1,312
  -1,371
  -1,434
  -1,500
  -1,570
  -1,644
  -1,721
  -1,803
  -1,889
  -1,979
  -2,074
  -2,174
Cash from investing activities, $m
  -1,391
  -1,481
  -1,573
  -1,668
  -1,767
  -1,870
  -1,977
  -2,089
  -2,204
  -2,326
  -2,452
  -2,585
  -2,723
  -2,867
  -3,019
  -3,177
  -3,343
  -3,517
  -3,699
  -3,889
  -4,089
  -4,299
  -4,519
  -4,750
  -4,991
  -5,245
  -5,512
  -5,791
  -6,083
  -6,391
Free cash flow, $m
  189
  203
  219
  237
  255
  274
  293
  313
  334
  355
  264
  286
  308
  332
  355
  380
  404
  430
  456
  483
  511
  540
  569
  600
  631
  664
  698
  733
  770
  808
Issuance/(repayment) of debt, $m
  377
  392
  407
  423
  440
  457
  475
  494
  514
  535
  557
  580
  604
  630
  657
  686
  716
  748
  782
  817
  855
  894
  936
  980
  1,026
  1,074
  1,125
  1,179
  1,236
  1,296
Issuance/(repurchase) of shares, $m
  66
  38
  14
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  443
  430
  421
  423
  440
  457
  475
  494
  514
  535
  557
  580
  604
  630
  657
  686
  716
  748
  782
  817
  855
  894
  936
  980
  1,026
  1,074
  1,125
  1,179
  1,236
  1,296
Total cash flow (excl. dividends), $m
  632
  632
  640
  660
  695
  731
  768
  807
  848
  890
  820
  866
  913
  961
  1,012
  1,065
  1,121
  1,178
  1,238
  1,300
  1,366
  1,434
  1,505
  1,579
  1,657
  1,738
  1,824
  1,913
  2,006
  2,103
Retained Cash Flow (-), $m
  -418
  -429
  -446
  -464
  -482
  -501
  -521
  -541
  -563
  -586
  -610
  -636
  -662
  -691
  -720
  -752
  -785
  -820
  -857
  -896
  -937
  -980
  -1,026
  -1,074
  -1,125
  -1,178
  -1,234
  -1,293
  -1,355
  -1,420
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  27
  29
  32
  34
  37
  39
  42
  45
  48
  51
  54
  58
  61
  65
  69
  72
  77
  81
  85
  90
  95
  100
  105
  111
  117
  123
  130
  136
  143
  151
Cash available for distribution, $m
  214
  203
  194
  196
  213
  230
  248
  266
  284
  304
  210
  230
  250
  271
  292
  313
  335
  358
  381
  404
  429
  453
  479
  505
  532
  561
  590
  620
  651
  683
Discount rate, %
  6.20
  6.51
  6.84
  7.18
  7.54
  7.91
  8.31
  8.72
  9.16
  9.62
  10.10
  10.60
  11.13
  11.69
  12.28
  12.89
  13.53
  14.21
  14.92
  15.67
  16.45
  17.27
  18.14
  19.04
  20.00
  21.00
  22.05
  23.15
  24.30
  25.52
PV of cash for distribution, $m
  201
  179
  159
  149
  148
  146
  142
  136
  129
  121
  73
  69
  63
  58
  51
  45
  39
  33
  27
  22
  18
  14
  10
  8
  6
  4
  3
  2
  1
  1
Current shareholders' claim on cash, %
  99.6
  99.3
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2

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). The Company produces and sells asphalt mix in Arizona, California, New Mexico and Texas. The Company produces and sells ready-mixed concrete in Georgia, Maryland, New Mexico, Texas, Virginia, Washington District of Columbia and the Bahamas. The Calcium segment consists of a Florida facility that mines, produces and sells calcium products. As of December 31, 2016, it had 337 active aggregates facilities. The Company sells aggregates that are used as ballast for construction and maintenance of railroad tracks.

FINANCIAL RATIOS  of  Vulcan Materials (VMC)

Valuation Ratios
P/E Ratio 35.2
Price to Sales 4.1
Price to Book 3.2
Price to Tangible Book
Price to Cash Flow 22.8
Price to Free Cash Flow 50
Growth Rates
Sales Growth Rate 5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 21.1%
Cap. Spend. - 3 Yr. Gr. Rate 4.9%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 43.4%
Total Debt to Equity 43.4%
Interest Coverage 5
Management Effectiveness
Return On Assets 6.2%
Ret/ On Assets - 3 Yr. Avg. 5.1%
Return On Total Capital 6.5%
Ret/ On T. Cap. - 3 Yr. Avg. 4.4%
Return On Equity 9.3%
Return On Equity - 3 Yr. Avg. 6.5%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 27.9%
Gross Margin - 3 Yr. Avg. 24.2%
EBITDA Margin 26.9%
EBITDA Margin - 3 Yr. Avg. 26%
Operating Margin 18.9%
Oper. Margin - 3 Yr. Avg. 17.7%
Pre-Tax Margin 15.2%
Pre-Tax Margin - 3 Yr. Avg. 11.6%
Net Profit Margin 11.7%
Net Profit Margin - 3 Yr. Avg. 8.3%
Effective Tax Rate 22.9%
Eff/ Tax Rate - 3 Yr. Avg. 27.5%
Payout Ratio 25.3%

VMC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the VMC stock intrinsic value calculation we used $3890 million for the last fiscal year's total revenue generated by Vulcan Materials. The default revenue input number comes from 2017 income statement of Vulcan Materials. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our VMC stock valuation model: a) initial revenue growth rate of 8.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.2%, whose default value for VMC is calculated based on our internal credit rating of Vulcan Materials, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Vulcan Materials.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of VMC stock the variable cost ratio is equal to 81.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for VMC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 12.2% for Vulcan Materials.

Corporate tax rate of 27% is the nominal tax rate for Vulcan Materials. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the VMC stock is equal to 0.7%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for VMC are equal to 195.7%.

Life of production assets of 10 years is the average useful life of capital assets used in Vulcan Materials operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for VMC is equal to 4.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $4969 million for Vulcan Materials - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 133 million for Vulcan Materials is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Vulcan Materials at the current share price and the inputted number of shares is $14.8 billion.

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COMPANY NEWS

▶ Top 4 Long-Term Infrastructure Stocks for 2018   [Jul-31-18 06:29PM  Investopedia]
▶ Vulcan: 2Q Earnings Snapshot   [08:18AM  Associated Press]
▶ Four Bham execs tapped for Alabama Business Hall of Fame   [Jul-18-18 02:17PM  American City Business Journals]
▶ Vulcan Announces Second Quarter Conference Call   [Jul-16-18 04:42PM  PR Newswire]
▶ Vulcan Declares Quarterly Dividend On Common Stock   [Jul-13-18 04:30PM  PR Newswire]
▶ Vulcan Materials CFO to leave company   [Jul-10-18 07:16AM  MarketWatch]
▶ Vulcan Declares Quarterly Dividend on Common Stock   [May-11-18 04:30PM  PR Newswire]
▶ 6 Growth Stocks Ready for Outsized Gains   [May-08-18 08:00AM  Investopedia]
▶ Vulcan: 1Q Earnings Snapshot   [08:18AM  Associated Press]
▶ Vulcan Announces First Quarter Conference Call   [Apr-17-18 06:00PM  PR Newswire]
▶ Construction materials company funds training, equipment to prepare workforce   [Apr-03-18 06:45AM  American City Business Journals]
▶ SpaceX rival ULA stakes future on new Vulcan rocket   [Mar-19-18 05:29AM  CBS MoneyWatch]
▶ Vulcan beats Street 4Q forecasts   [08:27AM  Associated Press]
▶ Wally Weitz Establishes 4 Positions in 4th Quarter   [Feb-15-18 04:10PM  GuruFocus.com]
▶ Martin Marietta Stock Rises On Strong Earnings, Guidance   [Feb-13-18 04:13PM  Investor's Business Daily]
▶ Vulcan Increases Quarterly Dividend On Common Stock   [Feb-09-18 04:30PM  PR Newswire]
▶ Vulcan Announces Fourth Quarter Conference Call   [Jan-31-18 08:00AM  PR Newswire]
▶ Canada Goose, Lear, Masco, Vulcan Materials & Micron   [Jan-08-18 01:48PM  CNBC Videos]
▶ IPO Stock With 302% Growth Enters Buy Zone   [Jan-03-18 04:41PM  Investor's Business Daily]
▶ Vulcan Materials Closes Acquisition of Aggregates USA   [Jan-02-18 06:45AM  PR Newswire]
▶ Four stocks to stuff your stocking   [Dec-22-17 05:26PM  CNBC Videos]
▶ Putting Your Money into Infrastructure   [Dec-08-17 01:40PM  CNBC Videos]
▶ 5 Booming Tech Stocks For 2018   [Dec-06-17 07:30PM  Oilprice.com]
▶ 9 Stocks Louis Moore Bacon Continues to Buy   [04:12PM  GuruFocus.com]
▶ 3 Top Building-Materials Stocks to Buy Now   [Nov-30-17 08:30AM  Motley Fool]
▶ Whats Led to Vulcan Materials Upward Dividend Yield Curve   [Nov-08-17 01:02PM  Market Realist]
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