Loop Capital Cuts Vulcan Materials (NYSE:VMC) Price Target to $320.00

Vulcan Materials (NYSE:VMC) had its price objective cut by Loop Capital from $325.00 to $320.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other analysts also recently issued reports about the stock. Citigroup dropped their price target on shares of Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. upgraded Vulcan Materials from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $290.00 to $285.00 in a research report on Wednesday, March 19th. Royal Bank of Canada increased their price target on Vulcan Materials from $269.00 to $286.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 19th. Raymond James dropped their price objective on Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a research note on Thursday, January 16th. Finally, Stifel Nicolaus assumed coverage on Vulcan Materials in a research note on Tuesday, March 4th. They set a “buy” rating and a $287.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $305.58.

Vulcan Materials Stock Up 1.7 %

VMC opened at $237.26 on Tuesday. The stock’s 50 day moving average price is $252.42 and its 200 day moving average price is $260.78. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.83 and a quick ratio of 2.02. The stock has a market cap of $31.38 billion, a P/E ratio of 34.64, a P/E/G ratio of 2.03 and a beta of 0.80. Vulcan Materials has a 12 month low of $215.08 and a 12 month high of $298.31.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.41. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.81 billion. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. During the same period last year, the company earned $1.46 earnings per share. As a group, research analysts predict that Vulcan Materials will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a dividend of $0.49 per share. The ex-dividend date was Monday, March 10th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.83%. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.46. Vulcan Materials’s payout ratio is currently 28.61%.

Hedge Funds Weigh In On Vulcan Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its holdings in shares of Vulcan Materials by 16.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 254 shares of the construction company’s stock valued at $65,000 after purchasing an additional 36 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Vulcan Materials by 2.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,791 shares of the construction company’s stock worth $461,000 after acquiring an additional 44 shares during the period. Howard Capital Management Inc. grew its stake in Vulcan Materials by 5.2% during the 4th quarter. Howard Capital Management Inc. now owns 906 shares of the construction company’s stock valued at $233,000 after acquiring an additional 45 shares in the last quarter. Washington Trust Advisors Inc. increased its holdings in shares of Vulcan Materials by 30.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 208 shares of the construction company’s stock valued at $54,000 after purchasing an additional 48 shares during the period. Finally, Sound View Wealth Advisors Group LLC lifted its position in shares of Vulcan Materials by 4.3% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,169 shares of the construction company’s stock worth $301,000 after purchasing an additional 48 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

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.