Vulcan Materials (NYSE:VMC) Price Target Raised to $322.00

Vulcan Materials (NYSE:VMC) had its price target lifted by Morgan Stanley from $321.00 to $322.00 in a research report report published on Monday,Benzinga reports. The firm currently has an equal weight rating on the construction company’s stock.

Several other research analysts have also issued reports on the stock. Citigroup increased their target price on shares of Vulcan Materials from $345.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $320.00 price target (down from $335.00) on shares of Vulcan Materials in a research note on Wednesday, March 4th. Wells Fargo & Company dropped their price objective on shares of Vulcan Materials from $317.00 to $315.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Vulcan Materials in a research report on Tuesday, January 27th. Finally, Truist Financial raised their target price on Vulcan Materials from $320.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $326.29.

Vulcan Materials Trading Down 1.9%

Shares of VMC stock opened at $266.74 on Monday. Vulcan Materials has a fifty-two week low of $218.87 and a fifty-two week high of $331.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.97 and a current ratio of 2.69. The stock has a 50 day simple moving average of $303.29 and a two-hundred day simple moving average of $297.18. The company has a market cap of $34.83 billion, a P/E ratio of 32.85, a PEG ratio of 2.01 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Tuesday, February 17th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.41). The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.95 billion. Vulcan Materials had a return on equity of 12.56% and a net margin of 13.56%.Vulcan Materials’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.17 earnings per share. Research analysts forecast that Vulcan Materials will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be issued a $0.52 dividend. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, March 9th. Vulcan Materials’s dividend payout ratio is 25.62%.

Insider Activity

In related news, Director Melissa H. Anderson sold 1,137 shares of Vulcan Materials stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $303.72, for a total transaction of $345,329.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.62% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vulcan Materials

A number of institutional investors and hedge funds have recently bought and sold shares of VMC. Westside Investment Management Inc. grew its stake in shares of Vulcan Materials by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock worth $25,000 after acquiring an additional 42 shares in the last quarter. NBT Bank N A NY bought a new position in shares of Vulcan Materials during the fourth quarter valued at about $26,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Vulcan Materials during the third quarter valued at about $29,000. Measured Wealth Private Client Group LLC purchased a new position in Vulcan Materials during the third quarter worth about $30,000. Finally, Birchwood Financial Partners Inc. purchased a new position in Vulcan Materials during the fourth quarter worth about $29,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.