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

Vulcan Materials (NYSE:VMC) had its price objective raised by JPMorgan Chase & Co. from $245.00 to $290.00 in a research note published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the construction company’s stock.

Several other research firms have also issued reports on VMC. Citigroup reduced their price objective on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Stephens lowered their price objective on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Truist Financial boosted their target price on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, UBS Group began coverage on Vulcan Materials in a report on Thursday, November 7th. They set a “buy” rating and a $349.00 price target on the stock. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $283.92.

Vulcan Materials Stock Up 0.6 %

VMC opened at $288.16 on Wednesday. The company has a market capitalization of $38.05 billion, a PE ratio of 45.45, a price-to-earnings-growth 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 has a fifty-two week low of $209.60 and a fifty-two week high of $298.31. The business has a 50-day moving average of $265.28 and a 200-day moving average of $255.35.

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

Vulcan Materials Dividend Announcement

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

Institutional Inflows and Outflows

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

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.