Vulcan Materials (NYSE:VMC) Price Target Raised to $365.00

Vulcan Materials (NYSE:VMC) had its price objective hoisted by Citigroup from $345.00 to $365.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other research analysts also recently weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Vulcan Materials in a research note on Tuesday, January 27th. Stifel Nicolaus set a $327.00 price objective on shares of Vulcan Materials in a research report on Monday, November 3rd. DA Davidson cut their price objective on shares of Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. B. Riley Financial started coverage on shares of Vulcan Materials in a report on Thursday, January 15th. They issued a “buy” rating and a $345.00 target price on the stock. Finally, Wells Fargo & Company dropped their price target on shares of Vulcan Materials from $317.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Vulcan Materials presently has an average rating of “Moderate Buy” and a consensus target price of $326.14.

Vulcan Materials Trading Down 1.4%

VMC opened at $295.67 on Monday. The company has a quick ratio of 1.97, a current ratio of 2.69 and a debt-to-equity ratio of 0.51. Vulcan Materials has a 52 week low of $215.08 and a 52 week high of $331.09. The business’s 50 day moving average is $304.88 and its two-hundred day moving average is $297.70. The firm has a market cap of $38.61 billion, a price-to-earnings ratio of 36.41, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Tuesday, February 17th. The construction company reported $1.70 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.41). Vulcan Materials had a net margin of 13.56% and a return on equity of 12.56%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the company earned $2.17 EPS. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, research analysts predict that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, March 9th. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.49. Vulcan Materials’s payout ratio is 24.14%.

Insider Buying and Selling

In other Vulcan Materials news, SVP Denson N. Franklin III sold 665 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $295.00, for a total value of $196,175.00. Following the sale, the senior vice president owned 8,284 shares of the company’s stock, valued at approximately $2,443,780. This represents a 7.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Thompson S. Baker II sold 7,135 shares of Vulcan Materials stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $300.81, for a total value of $2,146,279.35. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,937 shares of company stock worth $2,687,784 in the last quarter. Company insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Vulcan Materials

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Westside Investment Management Inc. increased its stake in shares of Vulcan Materials by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. NBT Bank N A NY purchased a new position in Vulcan Materials during the fourth quarter worth $26,000. Greykasell Wealth Strategies Inc. purchased a new position in Vulcan Materials during the third quarter worth $29,000. Birchwood Financial Partners Inc. acquired a new position in shares of Vulcan Materials in the fourth quarter worth $29,000. Finally, Godsey & Gibb Inc. purchased a new stake in shares of Vulcan Materials in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Company Profile

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.