StockNews.com downgraded shares of Vulcan Materials (NYSE:VMC – Free Report) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.
Other equities analysts also recently issued research reports about the stock. Stephens reduced their price target on shares of Vulcan Materials from $300.00 to $280.00 and set an overweight rating for the company in a report on Thursday, August 8th. Truist Financial dropped their price target on shares of Vulcan Materials from $320.00 to $300.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their price objective on shares of Vulcan Materials from $267.00 to $257.00 and set a sector perform rating for the company in a report on Wednesday, August 7th. Loop Capital lowered their target price on Vulcan Materials from $305.00 to $285.00 and set a buy rating on the stock in a report on Wednesday, July 3rd. Finally, Citigroup dropped their price target on shares of Vulcan Materials from $297.00 to $292.00 and set a buy rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $274.73.
Read Our Latest Stock Analysis on Vulcan Materials
Vulcan Materials Stock Performance
Vulcan Materials (NYSE:VMC – Get Free Report) last issued its earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The business’s revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.29 EPS. Research analysts expect that Vulcan Materials will post 7.73 earnings per share for the current year.
Vulcan Materials Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Thursday, August 15th. Vulcan Materials’s dividend payout ratio (DPR) is currently 26.86%.
Institutional Investors Weigh In On Vulcan Materials
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Vulcan Materials by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock valued at $4,368,273,000 after purchasing an additional 755,991 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Vulcan Materials by 1.9% during the first quarter. Principal Financial Group Inc. now owns 4,494,455 shares of the construction company’s stock worth $1,226,627,000 after purchasing an additional 83,601 shares during the period. Capital World Investors acquired a new stake in shares of Vulcan Materials during the first quarter worth approximately $388,027,000. Dimensional Fund Advisors LP grew its position in Vulcan Materials by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,332,649 shares of the construction company’s stock valued at $331,404,000 after purchasing an additional 43,294 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Vulcan Materials by 271.0% in the 4th quarter. Point72 Asset Management L.P. now owns 823,141 shares of the construction company’s stock valued at $186,861,000 after buying an additional 601,268 shares during the period. Hedge funds and other institutional investors 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.
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