Vulcan Materials (NYSE:VMC) Price Target Raised to $315.00

Vulcan Materials (NYSE:VMC) had its price objective boosted by Stephens from $285.00 to $315.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group lowered their price objective on shares of Vulcan Materials from $345.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, September 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Vulcan Materials from $320.00 to $300.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. Wells Fargo & Company raised their target price on shares of Vulcan Materials from $249.00 to $253.00 and gave the stock an “underweight” rating in a report on Friday, October 30th. Truist Financial decreased their target price on Vulcan Materials from $360.00 to $320.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Finally, Weiss Ratings lowered Vulcan Materials from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 30th. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $310.72.

Vulcan Materials Stock Performance

Vulcan Materials stock opened at $297.96 on Monday. The company has a market cap of $38.24 billion, a PE ratio of 33.60, a P/E/G ratio of 2.93 and a beta of 0.99. The company has a fifty day moving average price of $256.70 and a two-hundred day moving average price of $280.20. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.43 and a quick ratio of 0.96. Vulcan Materials has a 12 month low of $237.03 and a 12 month high of $331.09.

Vulcan Materials (NYSE:VMC) last released its earnings results on Thursday, October 29th. The construction company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.02. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.24 billion. Vulcan Materials had a net margin of 13.77% and a return on equity of 13.03%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.84 earnings per share. Research analysts expect that Vulcan Materials will post 8.92 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, November 9th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, November 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. Vulcan Materials’s dividend payout ratio is currently 24.62%.

Insider Transactions at Vulcan Materials

In related news, SVP David Clement sold 2,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $285.10, for a total value of $570,200.00. Following the sale, the senior vice president owned 6,716 shares of the company’s stock, valued at $1,914,731.60. This trade represents a 22.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J. Hill sold 14,000 shares of Vulcan Materials stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $276.17, for a total transaction of $3,866,380.00. Following the completion of the sale, the director owned 58,209 shares in the company, valued at approximately $16,075,579.53. This represents a 19.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of VMC. Bfsg LLC raised its holdings in shares of Vulcan Materials by 0.8% in the 3rd quarter. Bfsg LLC now owns 13,491 shares of the construction company’s stock worth $3,300,000 after purchasing an additional 110 shares in the last quarter. Chicago Partners Investment Group LLC lifted its stake in Vulcan Materials by 7.5% during the third quarter. Chicago Partners Investment Group LLC now owns 1,756 shares of the construction company’s stock valued at $460,000 after purchasing an additional 122 shares during the last quarter. Ascent Group LLC lifted its stake in Vulcan Materials by 6.9% during the third quarter. Ascent Group LLC now owns 1,967 shares of the construction company’s stock valued at $481,000 after purchasing an additional 127 shares during the last quarter. Markel Group Inc. bought a new stake in Vulcan Materials during the third quarter worth approximately $234,000. Finally, Farrow Financial Inc. boosted its holdings in Vulcan Materials by 1.3% during the third quarter. Farrow Financial Inc. now owns 8,697 shares of the construction company’s stock worth $2,128,000 after buying an additional 115 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a producer and distributor of construction materials used in infrastructure, commercial, residential and industrial projects. The company is the largest producer of construction aggregates in the United States, including crushed stone, sand and gravel.

In addition to aggregates, Vulcan Materials produces asphalt mix, ready-mixed concrete and cement. Its materials are used in roads, bridges, airports, commercial buildings, homes and other construction applications.