Vulcan Materials' (VMC) stock has exhibited mostly sideways action since the June 3, 2009 buy recommendation at a price of $46.28, but just view that as an extended opportunity to scoop-up shares. Hence, I'm reiterating my buy call.

Institutional investors (IIs) have been cautious with Vulcan, a major producer of construction aggregates, asphalt, and concrete, given the uneven and likely mild start to the U.S. economic recovery.

Vulcan Materials (NYSE: VMC) issued Q3 results late Monday. Total revenues decreased over 20%. Earnings from continuing operations dropped 29% to 38 cents per share. According to Earnings.com, this means that the company came in a penny ahead of estimates.

Going into yesterday's earnings report, shares of Vulcan Materials were pretty active. They increased over 2% to close at $47.12. Volume was above the norm. The market was obviously quite bullish on the stock.

Vulcan Materials (NYSE: VMC), a maker of construction materials such as cement and asphalt, announced Q2 earnings yesterday evening. Although the company has a cool name -- come on, who doesn't think of Mr. Spock when reading about Vulcan Materials -- there wasn't a significant cool factor surrounding the Q2 numbers. Net income from continuing operations came in at 14 cents per share. The company made $1.27 per share from continuing businesses in the year-ago period.

Big drop, that is. Sales likewise headed south: the company booked revenues of roughly $722 million in the second quarter. Vulcan Materials had a top line of over $1 billion in Q2 2008.

Vulcan Materials (NYSE: VMC) is another one of those solid business models that Wall Street treated rudely when the recession hit.

Vulcan's sin? It is a leading producer of cement in Florida. What Wall Street 'forgot' was that VMC is also a major producer of asphalt and concrete, and that it shipped aggregates to 23 states, the District of Columbia, Mexico, the Bahamas, Canada and Chile.

Vulcan Materials Co. (NYSE:VMC) has been on a roll and few on Wall Street noticed.

The company has blown away Wall Street expectations, boosted its guidance, hiked its dividend and now is making an accretive acquisition of Florida Rock Industries Inc. (NYSE:FRK).

Guess how many analysts have published estimates on the company in the current quarter? Four, according to Thomson Financial. Did I mention that its shares are up 44 percent over the past year?

You think that's sad. Only one analyst has published quarterly estimates on Mothers Work Inc. (NASDAQ:MWRK), whose shares are up 59 percent.

The problem is that Wall Street is going to handsomely reward analysts for being the guru on such high-profile industries as construction materials and maternity clothing.

Investors looking for undiscovered stocks are on their own.