Analysts Set Vulcan Materials (NYSE:VMC) Target Price at $273.00

Shares of Vulcan Materials (NYSE:VMC) have been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $273.00.

Several equities analysts recently commented on the company. Royal Bank of Canada increased their target price on Vulcan Materials from $236.00 to $269.00 and gave the company a “sector perform” rating in a report on Tuesday, February 20th. The Goldman Sachs Group increased their target price on Vulcan Materials from $264.00 to $292.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $270.00 price objective (up previously from $245.00) on shares of Vulcan Materials in a research note on Friday, March 22nd. Morgan Stanley initiated coverage on shares of Vulcan Materials in a research note on Monday, January 8th. They issued an “equal weight” rating and a $208.00 price objective for the company. Finally, Truist Financial upped their price objective on shares of Vulcan Materials from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd.

Insider Transactions at Vulcan Materials

In other news, VP Randy L. Pigg sold 307 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.27, for a total transaction of $78,367.89. Following the completion of the sale, the vice president now owns 1,896 shares in the company, valued at $483,991.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Melissa H. Anderson sold 1,200 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $260.48, for a total value of $312,576.00. Following the completion of the sale, the director now owns 330 shares in the company, valued at $85,958.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Randy L. Pigg sold 307 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.27, for a total transaction of $78,367.89. Following the completion of the sale, the vice president now owns 1,896 shares of the company’s stock, valued at approximately $483,991.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,017 shares of company stock worth $3,344,741. Company insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Vulcan Materials

A number of hedge funds have recently added to or reduced their stakes in VMC. JPMorgan Chase & Co. lifted its position in Vulcan Materials by 47.4% in the third quarter. JPMorgan Chase & Co. now owns 4,503,484 shares of the construction company’s stock valued at $909,794,000 after purchasing an additional 1,447,700 shares during the period. Norges Bank acquired a new stake in Vulcan Materials in the fourth quarter valued at about $282,528,000. Point72 Asset Management L.P. increased its holdings in Vulcan Materials by 271.0% in the fourth quarter. Point72 Asset Management L.P. now owns 823,141 shares of the construction company’s stock valued at $186,861,000 after buying an additional 601,268 shares in the last quarter. Wellington Management Group LLP increased its holdings in Vulcan Materials by 30,160.4% in the third quarter. Wellington Management Group LLP now owns 541,359 shares of the construction company’s stock valued at $109,365,000 after buying an additional 539,570 shares in the last quarter. Finally, Palestra Capital Management LLC increased its holdings in Vulcan Materials by 68.9% in the third quarter. Palestra Capital Management LLC now owns 560,315 shares of the construction company’s stock valued at $113,195,000 after buying an additional 228,510 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

NYSE:VMC opened at $252.06 on Friday. The firm has a market capitalization of $33.34 billion, a PE ratio of 36.11, a price-to-earnings-growth ratio of 1.83 and a beta of 0.83. The business’s fifty day moving average price is $263.37 and its 200 day moving average price is $233.38. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.17 and a quick ratio of 2.39. Vulcan Materials has a 12 month low of $166.43 and a 12 month high of $276.58.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Friday, February 16th. The construction company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.40 by $0.06. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.84 billion. Vulcan Materials had a return on equity of 12.80% and a net margin of 11.99%. Vulcan Materials’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.08 earnings per share. On average, sell-side analysts anticipate that Vulcan Materials will post 8.43 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were paid a dividend of $0.46 per share. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, March 1st. This represents a $1.84 annualized dividend and a dividend yield of 0.73%. Vulcan Materials’s dividend payout ratio is 26.36%.

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.