Intrinsic value of Vulcan Materials - VMC

Previous Close

$135.03

  Intrinsic Value

$109.29

stock screener

  Rating & Target

hold

-19%

Previous close

$135.03

 
Intrinsic value

$109.29

 
Up/down potential

-19%

 
Rating

hold

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

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

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   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

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  5.00
  8.60
  8.24
  7.92
  7.62
  7.36
  7.13
  6.91
  6.72
  6.55
  6.39
  6.26
  6.13
  6.02
  5.92
  5.82
  5.74
  5.67
  5.60
  5.54
  5.49
  5.44
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
Revenue, $m
  3,593
  3,902
  4,224
  4,558
  4,905
  5,266
  5,642
  6,032
  6,437
  6,859
  7,297
  7,754
  8,229
  8,724
  9,240
  9,779
  10,340
  10,926
  11,538
  12,177
  12,845
  13,544
  14,274
  15,038
  15,838
  16,676
  17,553
  18,471
  19,433
  20,442
  21,498
Variable operating expenses, $m
 
  910
  959
  1,011
  1,064
  1,120
  1,178
  1,238
  1,300
  1,365
  1,432
  1,193
  1,266
  1,342
  1,422
  1,505
  1,591
  1,681
  1,775
  1,874
  1,976
  2,084
  2,196
  2,314
  2,437
  2,566
  2,701
  2,842
  2,990
  3,145
  3,308
Fixed operating expenses, $m
 
  2,156
  2,209
  2,265
  2,321
  2,379
  2,439
  2,500
  2,562
  2,626
  2,692
  2,759
  2,828
  2,899
  2,971
  3,046
  3,122
  3,200
  3,280
  3,362
  3,446
  3,532
  3,620
  3,711
  3,804
  3,899
  3,996
  4,096
  4,199
  4,304
  4,411
Total operating expenses, $m
  2,913
  3,066
  3,168
  3,276
  3,385
  3,499
  3,617
  3,738
  3,862
  3,991
  4,124
  3,952
  4,094
  4,241
  4,393
  4,551
  4,713
  4,881
  5,055
  5,236
  5,422
  5,616
  5,816
  6,025
  6,241
  6,465
  6,697
  6,938
  7,189
  7,449
  7,719
Operating income, $m
  680
  837
  1,055
  1,282
  1,520
  1,767
  2,025
  2,294
  2,575
  2,868
  3,173
  3,802
  4,135
  4,483
  4,847
  5,228
  5,627
  6,045
  6,483
  6,942
  7,423
  7,928
  8,457
  9,014
  9,598
  10,211
  10,856
  11,533
  12,245
  12,993
  13,779
EBITDA, $m
  965
  1,320
  1,553
  1,795
  2,048
  2,312
  2,587
  2,873
  3,172
  3,483
  3,808
  4,148
  4,502
  4,872
  5,260
  5,665
  6,089
  6,533
  6,998
  7,485
  7,996
  8,532
  9,095
  9,685
  10,305
  10,956
  11,639
  12,357
  13,112
  13,905
  14,739
Interest expense (income), $m
  135
  135
  157
  181
  206
  231
  258
  286
  315
  344
  376
  408
  442
  477
  513
  551
  591
  632
  675
  721
  768
  817
  868
  922
  979
  1,038
  1,099
  1,164
  1,232
  1,303
  1,377
Earnings before tax, $m
  547
  702
  897
  1,101
  1,314
  1,536
  1,767
  2,009
  2,260
  2,523
  2,798
  3,394
  3,693
  4,006
  4,334
  4,677
  5,036
  5,413
  5,807
  6,221
  6,655
  7,111
  7,589
  8,091
  8,619
  9,173
  9,756
  10,369
  11,013
  11,690
  12,402
Tax expense, $m
  125
  189
  242
  297
  355
  415
  477
  542
  610
  681
  755
  916
  997
  1,082
  1,170
  1,263
  1,360
  1,461
  1,568
  1,680
  1,797
  1,920
  2,049
  2,185
  2,327
  2,477
  2,634
  2,800
  2,973
  3,156
  3,349
Net income, $m
  419
  512
  655
  804
  959
  1,121
  1,290
  1,466
  1,650
  1,842
  2,042
  2,477
  2,696
  2,925
  3,164
  3,414
  3,677
  3,951
  4,239
  4,541
  4,858
  5,191
  5,540
  5,907
  6,292
  6,697
  7,122
  7,569
  8,039
  8,534
  9,054

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  259
  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
  8,471
  8,909
  9,643
  10,406
  11,199
  12,024
  12,881
  13,771
  14,697
  15,660
  16,661
  17,703
  18,788
  19,919
  21,097
  22,325
  23,607
  24,945
  26,342
  27,802
  29,327
  30,921
  32,589
  34,334
  36,161
  38,073
  40,075
  42,171
  44,368
  46,670
  49,083
Adjusted assets (=assets-cash), $m
  8,212
  8,909
  9,643
  10,406
  11,199
  12,024
  12,881
  13,771
  14,697
  15,660
  16,661
  17,703
  18,788
  19,919
  21,097
  22,325
  23,607
  24,945
  26,342
  27,802
  29,327
  30,921
  32,589
  34,334
  36,161
  38,073
  40,075
  42,171
  44,368
  46,670
  49,083
Revenue / Adjusted assets
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
Average production assets, $m
  3,977
  4,320
  4,675
  5,046
  5,430
  5,830
  6,245
  6,677
  7,126
  7,593
  8,078
  8,584
  9,110
  9,658
  10,229
  10,825
  11,446
  12,095
  12,772
  13,480
  14,220
  14,993
  15,801
  16,648
  17,533
  18,460
  19,431
  20,448
  21,513
  22,629
  23,799
Working capital, $m
  765
  550
  596
  643
  692
  743
  795
  850
  908
  967
  1,029
  1,093
  1,160
  1,230
  1,303
  1,379
  1,458
  1,541
  1,627
  1,717
  1,811
  1,910
  2,013
  2,120
  2,233
  2,351
  2,475
  2,604
  2,740
  2,882
  3,031
Total debt, $m
  1,983
  2,316
  2,664
  3,027
  3,404
  3,795
  4,202
  4,625
  5,065
  5,522
  5,998
  6,493
  7,008
  7,545
  8,105
  8,689
  9,297
  9,933
  10,596
  11,290
  12,014
  12,772
  13,564
  14,393
  15,260
  16,168
  17,119
  18,115
  19,159
  20,252
  21,398
Total liabilities, $m
  3,899
  4,232
  4,580
  4,943
  5,320
  5,711
  6,118
  6,541
  6,981
  7,438
  7,914
  8,409
  8,924
  9,461
  10,021
  10,605
  11,213
  11,849
  12,512
  13,206
  13,930
  14,688
  15,480
  16,309
  17,176
  18,084
  19,035
  20,031
  21,075
  22,168
  23,314
Total equity, $m
  4,572
  4,677
  5,062
  5,463
  5,880
  6,313
  6,762
  7,230
  7,716
  8,221
  8,747
  9,294
  9,864
  10,457
  11,076
  11,721
  12,394
  13,096
  13,830
  14,596
  15,397
  16,234
  17,109
  18,026
  18,984
  19,988
  21,039
  22,140
  23,293
  24,502
  25,769
Total liabilities and equity, $m
  8,471
  8,909
  9,642
  10,406
  11,200
  12,024
  12,880
  13,771
  14,697
  15,659
  16,661
  17,703
  18,788
  19,918
  21,097
  22,326
  23,607
  24,945
  26,342
  27,802
  29,327
  30,922
  32,589
  34,335
  36,160
  38,072
  40,074
  42,171
  44,368
  46,670
  49,083
Debt-to-equity ratio
  0.434
  0.500
  0.530
  0.550
  0.580
  0.600
  0.620
  0.640
  0.660
  0.670
  0.690
  0.700
  0.710
  0.720
  0.730
  0.740
  0.750
  0.760
  0.770
  0.770
  0.780
  0.790
  0.790
  0.800
  0.800
  0.810
  0.810
  0.820
  0.820
  0.830
  0.830
Adjusted equity ratio
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  419
  512
  655
  804
  959
  1,121
  1,290
  1,466
  1,650
  1,842
  2,042
  2,477
  2,696
  2,925
  3,164
  3,414
  3,677
  3,951
  4,239
  4,541
  4,858
  5,191
  5,540
  5,907
  6,292
  6,697
  7,122
  7,569
  8,039
  8,534
  9,054
Depreciation, amort., depletion, $m
  285
  484
  498
  513
  528
  545
  561
  579
  597
  616
  635
  346
  367
  389
  412
  436
  462
  488
  515
  544
  573
  605
  637
  671
  707
  744
  783
  824
  867
  912
  960
Funds from operations, $m
  556
  996
  1,153
  1,317
  1,488
  1,666
  1,851
  2,045
  2,247
  2,458
  2,678
  2,824
  3,063
  3,314
  3,576
  3,851
  4,138
  4,439
  4,754
  5,085
  5,432
  5,795
  6,177
  6,578
  6,999
  7,441
  7,906
  8,394
  8,907
  9,446
  10,013
Change in working capital, $m
  -89
  44
  45
  47
  49
  51
  53
  55
  57
  59
  62
  64
  67
  70
  73
  76
  79
  83
  86
  90
  94
  98
  103
  108
  113
  118
  124
  130
  136
  142
  149
Cash from operations, $m
  645
  952
  1,108
  1,270
  1,439
  1,615
  1,799
  1,990
  2,190
  2,398
  2,616
  2,759
  2,996
  3,244
  3,504
  3,775
  4,059
  4,356
  4,668
  4,995
  5,337
  5,697
  6,074
  6,470
  6,886
  7,323
  7,782
  8,264
  8,771
  9,304
  9,864
Maintenance CAPEX, $m
  0
  -160
  -174
  -189
  -203
  -219
  -235
  -252
  -269
  -287
  -306
  -326
  -346
  -367
  -389
  -412
  -436
  -462
  -488
  -515
  -544
  -573
  -605
  -637
  -671
  -707
  -744
  -783
  -824
  -867
  -912
New CAPEX, $m
  -350
  -343
  -356
  -370
  -385
  -400
  -415
  -432
  -449
  -467
  -486
  -505
  -526
  -548
  -571
  -596
  -621
  -649
  -677
  -708
  -740
  -773
  -809
  -846
  -885
  -927
  -971
  -1,017
  -1,065
  -1,116
  -1,170
Cash from investing activities, $m
  -365
  -503
  -530
  -559
  -588
  -619
  -650
  -684
  -718
  -754
  -792
  -831
  -872
  -915
  -960
  -1,008
  -1,057
  -1,111
  -1,165
  -1,223
  -1,284
  -1,346
  -1,414
  -1,483
  -1,556
  -1,634
  -1,715
  -1,800
  -1,889
  -1,983
  -2,082
Free cash flow, $m
  280
  449
  578
  711
  851
  996
  1,148
  1,306
  1,472
  1,644
  1,824
  1,928
  2,124
  2,329
  2,543
  2,767
  3,001
  3,246
  3,503
  3,772
  4,054
  4,350
  4,661
  4,987
  5,329
  5,689
  6,067
  6,464
  6,881
  7,320
  7,782
Issuance/(repayment) of debt, $m
  0
  333
  349
  363
  377
  392
  407
  423
  440
  457
  476
  495
  515
  537
  560
  584
  609
  635
  664
  693
  725
  757
  792
  829
  867
  908
  951
  996
  1,044
  1,093
  1,146
Issuance/(repurchase) of shares, $m
  -161
  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 from financing (excl. dividends), $m  
  -199
  333
  349
  363
  377
  392
  407
  423
  440
  457
  476
  495
  515
  537
  560
  584
  609
  635
  664
  693
  725
  757
  792
  829
  867
  908
  951
  996
  1,044
  1,093
  1,146
Total cash flow (excl. dividends), $m
  81
  782
  926
  1,074
  1,227
  1,388
  1,555
  1,729
  1,911
  2,101
  2,300
  2,423
  2,640
  2,866
  3,103
  3,350
  3,610
  3,882
  4,167
  4,465
  4,779
  5,108
  5,453
  5,816
  6,197
  6,597
  7,018
  7,460
  7,925
  8,414
  8,928
Retained Cash Flow (-), $m
  -118
  -364
  -385
  -401
  -417
  -433
  -450
  -467
  -486
  -505
  -526
  -547
  -570
  -593
  -619
  -645
  -673
  -702
  -733
  -766
  -801
  -837
  -876
  -916
  -959
  -1,004
  -1,051
  -1,101
  -1,153
  -1,209
  -1,267
Prev. year cash balance distribution, $m
 
  259
  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
 
  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 available for distribution, $m
 
  677
  541
  673
  811
  955
  1,105
  1,262
  1,425
  1,596
  1,774
  1,876
  2,070
  2,272
  2,484
  2,705
  2,937
  3,179
  3,433
  3,699
  3,978
  4,271
  4,577
  4,900
  5,238
  5,593
  5,967
  6,359
  6,772
  7,205
  7,661
Discount rate, %
 
  5.10
  5.36
  5.62
  5.90
  6.20
  6.51
  6.83
  7.18
  7.54
  7.91
  8.31
  8.72
  9.16
  9.62
  10.10
  10.60
  11.13
  11.69
  12.27
  12.89
  13.53
  14.21
  14.92
  15.66
  16.45
  17.27
  18.13
  19.04
  19.99
  20.99
PV of cash for distribution, $m
 
  644
  487
  571
  645
  707
  757
  794
  819
  830
  828
  780
  759
  727
  687
  639
  586
  528
  469
  410
  352
  297
  246
  200
  159
  124
  95
  71
  51
  36
  25
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

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 42.6
Price to Sales 5
Price to Book 3.9
Price to Tangible Book
Price to Cash Flow 27.7
Price to Free Cash Flow 60.6
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 $3593 million for the last fiscal year's total revenue generated by Vulcan Materials. The default revenue input number comes from 2016 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 8.6% 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 5.1%, 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 24%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $2103 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 6.8% 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%.

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 110.7%.

Life of production assets of 24.8 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 14.1%. 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 - $4572 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 131.495 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 $17.8 billion.

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COMPANY NEWS

▶ 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]
▶ Vulcan beats Street 3Q forecasts   [05:50AM  Associated Press]
▶ Vulcan Announces Third Quarter 2017 Results   [Nov-01-17 05:40PM  PR Newswire]
▶ Vulcan Announces Third Quarter Conference Call   [Oct-19-17 05:01PM  PR Newswire]
▶ Stifel's case for materials stocks   [Oct-18-17 01:20PM  CNBC Videos]
▶ Vulcan Materials Company Elects New Director   [Oct-16-17 09:00AM  PR Newswire]
▶ Vulcan Declares Quarterly Dividend on Common Stock   [Oct-13-17 04:30PM  PR Newswire]
▶ Avoid Vulcan Materials in October   [Oct-04-17 12:16PM  TheStreet.com]
▶ Why Vulcan Materials Company (VMC) Could Be A Buy   [Sep-06-17 05:50PM  Simply Wall St.]
▶ These 5 Stocks Surge On Hurricane Harvey Recovery Hopes   [Aug-30-17 04:24PM  Investor's Business Daily]
▶ Vulcan Materials makes another big deal   [Aug-28-17 04:33PM  American City Business Journals]
▶ Are There Solutions to the Current US Debt Crisis?   [Aug-25-17 10:37AM  Market Realist]
▶ Options say Vulcan Materials & Teradyne may break out   [Aug-14-17 01:39PM  CNBC Videos]
▶ Vulcan misses Street 2Q forecasts   [Aug-02-17 06:19PM  Associated Press]
▶ Vulcan Announces Second Quarter Conference Call   [Jul-19-17 05:02PM  PR Newswire]
▶ Building Stock With 77% Growth Cements New Breakout   [Jun-20-17 04:23PM  Investor's Business Daily]
▶ As U.S. Concrete Breaks Out, This Other Building Stock May Be Next   [Jun-19-17 04:13PM  Investor's Business Daily]
Financial statements of VMC
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