Vulcan Materials (NYSE:VMC) Price Target Raised to $310.00

Vulcan Materials (NYSE:VMC) had its price target lifted by Stephens from $300.00 to $310.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Several other research analysts also recently commented on the company. Morgan Stanley started coverage on Vulcan Materials in a research note on Monday, January 8th. They set an equal weight rating and a $208.00 target price for the company. Jefferies Financial Group upped their price objective on shares of Vulcan Materials from $298.00 to $319.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Truist Financial raised their target price on shares of Vulcan Materials from $300.00 to $320.00 and gave the company a buy rating in a research report on Tuesday, April 2nd. Citigroup upped their price target on shares of Vulcan Materials from $263.00 to $322.00 and gave the stock a buy rating in a report on Friday, April 5th. Finally, Raymond James increased their price target on Vulcan Materials from $225.00 to $240.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Vulcan Materials currently has a consensus rating of Moderate Buy and an average price target of $277.08.

Vulcan Materials Stock Performance

NYSE VMC opened at $264.44 on Friday. Vulcan Materials has a 1 year low of $187.20 and a 1 year high of $276.58. The firm has a market capitalization of $34.98 billion, a price-to-earnings ratio of 38.60, a P/E/G ratio of 1.98 and a beta of 0.83. The company has a current ratio of 2.74, a quick ratio of 2.39 and a debt-to-equity ratio of 0.44. The firm’s 50 day simple moving average is $265.53 and its 200 day simple moving average is $236.84.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.11). Vulcan Materials had a net margin of 11.92% and a return on equity of 12.32%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the business posted $0.95 EPS. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, research analysts expect that Vulcan Materials will post 8.5 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.70%. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, March 1st. Vulcan Materials’s dividend payout ratio (DPR) is 26.86%.

Insider Activity at Vulcan Materials

In other Vulcan Materials news, VP Randy L. Pigg sold 307 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.27, for a total transaction of $78,367.89. Following the completion of the transaction, the vice president now owns 1,896 shares in the company, valued at approximately $483,991.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Vulcan Materials news, VP Randy L. Pigg sold 307 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.27, for a total transaction of $78,367.89. Following the completion of the sale, the vice president now directly owns 1,896 shares in the company, valued at approximately $483,991.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stanley G. Bass sold 8,310 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $251.68, for a total value of $2,091,460.80. Following the completion of the transaction, the insider now directly owns 29,311 shares in the company, valued at $7,376,992.48. The disclosure for this sale can be found here. Insiders have sold 13,017 shares of company stock worth $3,344,741 over the last ninety days. Insiders own 0.62% of the company’s stock.

Institutional Trading of Vulcan Materials

Several large investors have recently modified their holdings of the stock. Strs Ohio grew its holdings in Vulcan Materials by 6.3% in the fourth quarter. Strs Ohio now owns 74,103 shares of the construction company’s stock worth $16,822,000 after purchasing an additional 4,412 shares during the period. Nordea Investment Management AB grew its stake in shares of Vulcan Materials by 50.6% in the 4th quarter. Nordea Investment Management AB now owns 32,713 shares of the construction company’s stock valued at $7,384,000 after buying an additional 10,991 shares during the period. Federated Hermes Inc. increased its position in Vulcan Materials by 53.6% in the 4th quarter. Federated Hermes Inc. now owns 81,319 shares of the construction company’s stock valued at $18,460,000 after buying an additional 28,369 shares in the last quarter. International Assets Investment Management LLC raised its stake in Vulcan Materials by 17,706.3% during the 4th quarter. International Assets Investment Management LLC now owns 47,899 shares of the construction company’s stock worth $10,874,000 after buying an additional 47,630 shares during the period. Finally, Smith Salley & Associates acquired a new position in Vulcan Materials during the 4th quarter worth approximately $3,185,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Company Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.