Vulcan Materials (NYSE:VMC) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Vulcan Materials (NYSE:VMC) from a neutral rating to an overweight rating in a research note released on Wednesday, Marketbeat reports. They currently have $285.00 price objective on the construction company’s stock, down from their previous price objective of $290.00.

Several other equities analysts have also recently weighed in on VMC. Raymond James dropped their price objective on Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley boosted their price target on shares of Vulcan Materials from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Royal Bank of Canada increased their price objective on shares of Vulcan Materials from $269.00 to $286.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 19th. Stifel Nicolaus assumed coverage on Vulcan Materials in a research note on Tuesday, March 4th. They issued a “buy” rating and a $287.00 target price on the stock. Finally, Citigroup decreased their price target on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and a consensus target price of $302.67.

Vulcan Materials Stock Down 1.7 %

Shares of NYSE VMC opened at $234.55 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.83 and a quick ratio of 2.02. The company has a 50-day moving average price of $256.58 and a 200-day moving average price of $260.27. The stock has a market capitalization of $30.99 billion, a P/E ratio of 34.24, a P/E/G ratio of 2.03 and a beta of 0.80. Vulcan Materials has a 1 year low of $215.08 and a 1 year high of $298.31.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.41. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.81 billion. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. During the same quarter in the previous year, the business earned $1.46 EPS. On average, equities research analysts forecast that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a $0.49 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.96 annualized dividend and a dividend yield of 0.84%. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.46. Vulcan Materials’s payout ratio is 28.61%.

Hedge Funds Weigh In On Vulcan Materials

Large investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Vulcan Materials in the fourth quarter valued at approximately $380,369,000. Principal Financial Group Inc. grew its position in Vulcan Materials by 19.9% during the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock worth $1,332,431,000 after buying an additional 884,580 shares in the last quarter. Proficio Capital Partners LLC grew its position in Vulcan Materials by 28,529.4% during the fourth quarter. Proficio Capital Partners LLC now owns 523,631 shares of the construction company’s stock worth $134,694,000 after buying an additional 521,802 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Vulcan Materials by 239.8% in the 4th quarter. BNP Paribas Financial Markets now owns 739,003 shares of the construction company’s stock worth $190,094,000 after acquiring an additional 521,508 shares during the last quarter. Finally, Alkeon Capital Management LLC raised its holdings in shares of Vulcan Materials by 54.1% in the 4th quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company’s stock valued at $329,769,000 after acquiring an additional 450,000 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

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.