Citigroup Cuts Vulcan Materials (NYSE:VMC) Price Target to $342.00

Vulcan Materials (NYSE:VMC) had its price target lowered by Citigroup from $356.00 to $342.00 in a research note released on Monday,Benzinga reports. Citigroup currently has a buy rating on the construction company’s stock.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. raised their price objective on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Morgan Stanley reduced their price target on Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating for the company in a research report on Monday, July 28th. Raymond James Financial lifted their price target on Vulcan Materials from $295.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Vulcan Materials in a research report on Thursday, October 30th. Finally, Royal Bank Of Canada reduced their price target on Vulcan Materials from $279.00 to $278.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $317.58.

Vulcan Materials Trading Down 2.7%

Shares of NYSE:VMC opened at $284.45 on Monday. Vulcan Materials has a 52-week low of $215.08 and a 52-week high of $311.74. The stock has a market cap of $37.58 billion, a price-to-earnings ratio of 39.73, a PEG ratio of 2.39 and a beta of 0.92. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $296.41 and a 200-day moving average price of $278.61.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.12. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the business posted $2.22 earnings per share. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. Equities analysts predict that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Monday, November 10th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.7%. Vulcan Materials’s payout ratio is currently 23.28%.

Insider Activity

In other news, SVP David P. Clement sold 698 shares of Vulcan Materials stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $298.56, for a total value of $208,394.88. Following the sale, the senior vice president directly owned 2,832 shares of the company’s stock, valued at $845,521.92. The trade was a 19.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.62% of the stock is owned by corporate insiders.

Institutional Trading of Vulcan Materials

A number of institutional investors have recently made changes to their positions in VMC. Brighton Jones LLC acquired a new stake in shares of Vulcan Materials in the fourth quarter worth approximately $497,000. Private Trust Co. NA boosted its stake in Vulcan Materials by 28.5% during the first quarter. Private Trust Co. NA now owns 510 shares of the construction company’s stock worth $119,000 after buying an additional 113 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Vulcan Materials by 109.6% during the first quarter. Teacher Retirement System of Texas now owns 19,307 shares of the construction company’s stock worth $4,504,000 after buying an additional 10,094 shares during the last quarter. Mutual Advisors LLC boosted its stake in Vulcan Materials by 7.8% during the first quarter. Mutual Advisors LLC now owns 1,942 shares of the construction company’s stock worth $480,000 after buying an additional 140 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new position in Vulcan Materials during the first quarter worth $45,000. 90.39% of the stock is owned by institutional investors and hedge funds.

About Vulcan Materials

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.