Vulcan Materials (NYSE:VMC) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Vulcan Materials (NYSE:VMC) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

A number of other research firms have also recently issued reports on VMC. Royal Bank of Canada dropped their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their target price on shares of Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Stephens reduced their price target on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Barclays lifted their price target on Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Finally, Truist Financial raised their price objective on Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.75.

Vulcan Materials Stock Performance

NYSE VMC opened at $268.86 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 1.66. Vulcan Materials has a 1-year low of $206.11 and a 1-year high of $279.47. The business has a 50 day simple moving average of $248.07 and a two-hundred day simple moving average of $252.25. The stock has a market capitalization of $35.51 billion, a PE ratio of 42.41, a P/E/G ratio of 2.60 and a beta of 0.80.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.12). Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the firm posted $2.29 EPS. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, research analysts predict that Vulcan Materials will post 7.32 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 annualized dividend and a yield of 0.68%. Vulcan Materials’s dividend payout ratio is presently 29.02%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Vulcan Materials by 5.0% in 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 acquiring an additional 755,991 shares during the period. Principal Financial Group Inc. lifted its holdings in Vulcan Materials by 19.9% in the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock worth $1,332,431,000 after buying an additional 884,580 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Vulcan Materials by 18.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock worth $533,551,000 after buying an additional 330,433 shares in the last quarter. Capital World Investors purchased a new position in Vulcan Materials in the 1st quarter valued at about $388,027,000. Finally, Vontobel Holding Ltd. grew its stake in shares of Vulcan Materials by 7.1% during the third quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company’s stock valued at $342,971,000 after acquiring an additional 91,318 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

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.