Vulcan Materials (NYSE:VMC) Price Target Raised to $315.00

Vulcan Materials (NYSE:VMC) had its target price upped by B. Riley Financial from $300.00 to $315.00 in a report issued on Monday morning,Benzinga reports. B. Riley Financial currently has a buy rating on the construction company’s stock.

Several other analysts have also issued reports on the stock. BMO Capital Markets restated a “market perform” rating on shares of Vulcan Materials in a research report on Monday, September 21st. Stifel Nicolaus decreased their price objective on Vulcan Materials from $333.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. Citigroup boosted their target price on Vulcan Materials from $300.00 to $326.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Raymond James Financial dropped their target price on Vulcan Materials from $320.00 to $308.00 and set an “outperform” rating for the company in a report on Friday, October 16th. Finally, DA Davidson increased their target price on Vulcan Materials from $315.00 to $330.00 and gave the company a “buy” rating in a report on Friday, October 30th. Twelve investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Vulcan Materials presently has an average rating of “Moderate Buy” and a consensus price target of $310.72.

Vulcan Materials Price Performance

Shares of Vulcan Materials stock opened at $297.96 on Monday. Vulcan Materials has a 52-week low of $237.03 and a 52-week high of $331.09. The stock has a market capitalization of $38.24 billion, a price-to-earnings ratio of 33.60, a price-to-earnings-growth ratio of 2.93 and a beta of 0.99. The company has a fifty day moving average of $256.70 and a 200-day moving average of $280.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.43.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Thursday, October 29th. The construction company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.02. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Vulcan Materials had a net margin of 13.77% and a return on equity of 13.03%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.84 EPS. Equities research analysts expect that Vulcan Materials will post 8.92 EPS for the current year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, November 9th will be issued a $0.52 dividend. The ex-dividend date is Monday, November 9th. This represents a $2.08 annualized dividend and a yield of 0.7%. Vulcan Materials’s payout ratio is 24.62%.

Insider Transactions at Vulcan Materials

In related news, Director J. Hill sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $276.17, for a total value of $3,866,380.00. Following the sale, the director owned 58,209 shares in the company, valued at $16,075,579.53. This represents a 19.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP David P. Clement sold 2,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $285.10, for a total transaction of $570,200.00. Following the completion of the transaction, the senior vice president owned 6,716 shares in the company, valued at approximately $1,914,731.60. The trade was a 22.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Vulcan Materials

Several large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Vulcan Materials during the 2nd quarter valued at $2,868,444,000. Bank of America Corp DE purchased a new position in shares of Vulcan Materials during the second quarter valued at $688,580,000. The Manufacturers Life Insurance Company purchased a new position in shares of Vulcan Materials during the second quarter valued at $451,119,000. Dimensional Fund Advisors LP increased its stake in shares of Vulcan Materials by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,346,422 shares of the construction company’s stock valued at $366,592,000 after buying an additional 24,187 shares during the period. Finally, Stockbridge Partners LLC bought a new stake in shares of Vulcan Materials in the second quarter valued at about $314,470,000. 90.39% of the stock is currently owned by institutional investors.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a producer and distributor of construction materials used in infrastructure, commercial, residential and industrial projects. The company is the largest producer of construction aggregates in the United States, including crushed stone, sand and gravel.

In addition to aggregates, Vulcan Materials produces asphalt mix, ready-mixed concrete and cement. Its materials are used in roads, bridges, airports, commercial buildings, homes and other construction applications.