Vulcan Materials (NYSE:VMC) Price Target Raised to $290.00

Vulcan Materials (NYSE:VMC) had its price target upped by JPMorgan Chase & Co. from $245.00 to $290.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

Other analysts have also recently issued reports about the stock. UBS Group initiated coverage on shares of Vulcan Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective on the stock. Truist Financial raised their price target on Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada reduced their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Stephens lowered their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $283.92.

Vulcan Materials Price Performance

Shares of VMC stock opened at $288.16 on Wednesday. The stock’s fifty day simple moving average is $265.28 and its 200 day simple moving average is $255.35. Vulcan Materials has a one year low of $209.60 and a one year high of $298.31. The firm has a market cap of $38.05 billion, a price-to-earnings ratio of 45.45, a P/E/G ratio of 2.77 and a beta of 0.81. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.12). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the firm posted $2.29 EPS. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, analysts expect that Vulcan Materials will post 7.16 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Monday, November 4th. Vulcan Materials’s dividend payout ratio is 29.02%.

Institutional Investors Weigh In On Vulcan Materials

A number of institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. boosted its stake in Vulcan Materials by 284.9% in the third quarter. Franklin Resources Inc. now owns 44,650 shares of the construction company’s stock valued at $11,104,000 after acquiring an additional 33,051 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Vulcan Materials by 20.1% in the 3rd quarter. Synovus Financial Corp now owns 21,619 shares of the construction company’s stock valued at $5,415,000 after purchasing an additional 3,615 shares during the period. Tidal Investments LLC boosted its position in shares of Vulcan Materials by 185.0% in the 3rd quarter. Tidal Investments LLC now owns 21,661 shares of the construction company’s stock worth $5,425,000 after purchasing an additional 14,061 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Vulcan Materials during the third quarter worth $671,000. Finally, Sanctuary Advisors LLC increased its holdings in Vulcan Materials by 6.9% in the third quarter. Sanctuary Advisors LLC now owns 25,176 shares of the construction company’s stock valued at $6,305,000 after purchasing an additional 1,628 shares during the last quarter. 90.39% of the stock is owned by 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.