Vulcan Materials (NYSE:VMC) Price Target Raised to $310.00

Vulcan Materials (NYSE:VMC) had its price objective increased by Stephens from $300.00 to $310.00 in a research report sent to investors on Friday morning, Benzinga reports. Stephens currently has an overweight rating on the construction company’s stock.

Several other equities analysts have also issued reports on VMC. Raymond James increased their target price on Vulcan Materials from $225.00 to $240.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Jefferies Financial Group raised their price objective on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a buy rating in a research note on Thursday, April 18th. JPMorgan Chase & Co. reiterated a neutral rating and set a $270.00 target price (up from $245.00) on shares of Vulcan Materials in a report on Friday, March 22nd. Royal Bank of Canada boosted their price target on shares of Vulcan Materials from $269.00 to $272.00 and gave the stock a sector perform rating in a research note on Friday. Finally, Truist Financial upped their price objective on Vulcan Materials from $300.00 to $320.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Vulcan Materials presently has a consensus rating of Moderate Buy and a consensus target price of $277.08.

Vulcan Materials Trading Up 0.8 %

Shares of VMC stock opened at $266.61 on Friday. The company has a current ratio of 2.74, a quick ratio of 1.81 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average price is $265.64 and its 200-day moving average price is $237.29. Vulcan Materials has a twelve month low of $190.51 and a twelve month high of $276.58. The stock has a market cap of $35.26 billion, a price-to-earnings ratio of 38.92, a PEG ratio of 1.97 and a beta of 0.83.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.11). Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The company’s revenue was down 6.2% on a year-over-year basis. As a group, equities analysts predict that Vulcan Materials will post 8.5 earnings per share for the current year.

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were issued a $0.46 dividend. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Friday, March 1st. Vulcan Materials’s payout ratio is presently 26.86%.

Insider Activity at Vulcan Materials

In other Vulcan Materials news, VP Randy L. Pigg sold 307 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.27, for a total value 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 document filed with the SEC, which is available through this link. In related news, insider Stanley G. Bass sold 8,310 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $251.68, for a total transaction of $2,091,460.80. Following the completion of the sale, the insider now directly owns 29,311 shares of the company’s stock, valued at $7,376,992.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Randy L. Pigg sold 307 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.27, for a total transaction of $78,367.89. Following the transaction, 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. Insiders sold a total of 13,017 shares of company stock valued at $3,344,741 in the last three months. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Vulcan Materials by 47.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,484 shares of the construction company’s stock worth $909,794,000 after purchasing an additional 1,447,700 shares during the period. Norges Bank purchased a new stake in shares of Vulcan Materials during the 4th quarter worth $282,528,000. Point72 Asset Management L.P. increased its holdings in shares of Vulcan Materials by 271.0% in the 4th quarter. Point72 Asset Management L.P. now owns 823,141 shares of the construction company’s stock valued at $186,861,000 after purchasing an additional 601,268 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Vulcan Materials by 30,160.4% during the third quarter. Wellington Management Group LLP now owns 541,359 shares of the construction company’s stock worth $109,365,000 after buying an additional 539,570 shares in the last quarter. Finally, Palestra Capital Management LLC grew its position in Vulcan Materials by 68.9% during the third quarter. Palestra Capital Management LLC now owns 560,315 shares of the construction company’s stock worth $113,195,000 after buying an additional 228,510 shares during the period. 90.39% of the stock is 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.