Vulcan Materials (NYSE:VMC) Given New $297.00 Price Target at Citigroup

Vulcan Materials (NYSE:VMC) had its target price lowered by Citigroup from $322.00 to $297.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. restated a neutral rating and issued a $270.00 price target (up previously from $245.00) on shares of Vulcan Materials in a research note on Friday, March 22nd. Jefferies Financial Group increased their target price on Vulcan Materials from $298.00 to $319.00 and gave the company a buy rating in a research note on Thursday, April 18th. Truist Financial increased their target price on Vulcan Materials from $300.00 to $320.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. Stephens increased their target price on Vulcan Materials from $300.00 to $310.00 and gave the company an overweight rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada increased their target price on Vulcan Materials from $269.00 to $272.00 and gave the company a sector perform rating in a research note on Friday, May 3rd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $277.08.

Vulcan Materials Stock Performance

Vulcan Materials stock opened at $254.69 on Thursday. The company has a quick ratio of 1.81, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $33.68 billion, a P/E ratio of 37.18, a PEG ratio of 1.86 and a beta of 0.82. The stock’s 50 day moving average is $254.30 and its 200 day moving average is $250.99. Vulcan Materials has a twelve month low of $190.51 and a twelve month high of $276.58.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results 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). The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.95 EPS. On average, equities research analysts predict that Vulcan Materials will post 8.46 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were given a dividend of $0.46 per share. The ex-dividend date was Thursday, May 23rd. This represents a $1.84 annualized dividend and a yield of 0.72%. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

Insider Activity at Vulcan Materials

In related news, President Thompson S. Baker II sold 8,600 shares of Vulcan Materials stock in a transaction on Friday, May 10th. The stock was sold at an average price of $272.95, for a total transaction of $2,347,370.00. Following the transaction, the president now directly owns 1,300 shares in the company, valued at $354,835. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Thompson S. Baker II sold 8,600 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $272.95, for a total value of $2,347,370.00. Following the transaction, the president now directly owns 1,300 shares in the company, valued at $354,835. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David P. Clement sold 1,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $249.50, for a total value of $249,500.00. Following the completion of the transaction, the senior vice president now owns 1,660 shares in the company, valued at $414,170. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,210 shares of company stock worth $4,653,520. Corporate insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Vulcan Materials

Large investors have recently made changes to their positions in the company. Independent Advisor Alliance increased its holdings in shares of Vulcan Materials by 1.2% in the fourth quarter. Independent Advisor Alliance now owns 6,411 shares of the construction company’s stock worth $1,455,000 after purchasing an additional 73 shares during the last quarter. Strs Ohio increased its stake in Vulcan Materials by 6.3% during the fourth quarter. Strs Ohio now owns 74,103 shares of the construction company’s stock worth $16,822,000 after acquiring an additional 4,412 shares during the last quarter. Nordea Investment Management AB increased its stake in Vulcan Materials by 50.6% during the fourth quarter. Nordea Investment Management AB now owns 32,713 shares of the construction company’s stock worth $7,384,000 after acquiring an additional 10,991 shares during the last quarter. California State Teachers Retirement System increased its stake in Vulcan Materials by 4.2% during the fourth quarter. California State Teachers Retirement System now owns 229,757 shares of the construction company’s stock worth $52,157,000 after acquiring an additional 9,193 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in Vulcan Materials by 53.6% during the fourth quarter. Federated Hermes Inc. now owns 81,319 shares of the construction company’s stock worth $18,460,000 after acquiring an additional 28,369 shares during the last quarter. 90.39% of the stock is owned by 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.