Market Realizes That Weather Really Can Mask Strong Demand as Vulcan Shares Rally After 1Q Earnings
When Vulcan Materials reported fourth-quarter earnings three months ago, shares fell roughly 5%. To us, it seemed that the market placed too much emphasis on underwhelming volume and pricing growth, failing to recognize that it stemmed from last year’s hurricanes. But weather headwinds are temporary, causing construction plans to be delayed rather than canceled. On May 3, Vulcan announced first-quarter earnings that seemed to reaffirm this. Though cold, wet weather in January and February led to...Vulcan Materials is a supplier of construction aggregates and a producer of asphalt mix and ready-mixed concrete. The company has four segments: Aggregates, which produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services; Asphalt, which produces and sells asphalt mix in Alabama, Arizona, California, New Mexico, Tennessee and Texas, and includes asphalt construction paving in Alabama, Tennessee and Texas; Concrete, which produces and sells ready-mixed concrete; and Calcium, which consists of a Florida facility that mines, produces and sells calcium products.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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