Vulcan Materials (NYSE:VMC) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Vulcan Materials (NYSE:VMC) from a sell rating to a hold rating in a research note issued to investors on Saturday.

A number of other analysts have also recently weighed in on the company. Citigroup cut their price target on Vulcan Materials from $365.00 to $355.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. B. Riley Financial began coverage on Vulcan Materials in a research note on Thursday, January 15th. They issued a “buy” rating and a $345.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Vulcan Materials in a research note on Tuesday, January 27th. Stifel Nicolaus set a $333.00 price target on Vulcan Materials in a research note on Thursday, April 30th. Finally, Stephens raised their price target on Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $329.62.

Vulcan Materials Trading Down 1.8%

NYSE:VMC opened at $283.73 on Friday. The firm has a market cap of $36.82 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 2.06 and a beta of 1.09. The stock has a fifty day moving average price of $283.32 and a 200 day moving average price of $292.70. Vulcan Materials has a 12-month low of $252.35 and a 12-month high of $331.09. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the firm earned $1.00 earnings per share. Vulcan Materials’s quarterly revenue was up 7.4% on a year-over-year basis. Sell-side analysts anticipate that Vulcan Materials will post 9.28 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Monday, March 9th were 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%. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, March 9th. Vulcan Materials’s payout ratio is presently 24.73%.

Insider Activity at Vulcan Materials

In other news, Director Melissa H. Anderson sold 1,137 shares of Vulcan Materials stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $303.72, for a total transaction of $345,329.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Vulcan Materials

A number of hedge funds and other institutional investors have recently made changes to their positions in VMC. Westside Investment Management Inc. increased its position in shares of Vulcan Materials by 100.0% during the third 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 acquired a new stake in shares of Vulcan Materials during the fourth quarter worth about $26,000. Meeder Asset Management Inc. increased its position in shares of Vulcan Materials by 71.7% during the first quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock worth $28,000 after purchasing an additional 43 shares in the last quarter. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Vulcan Materials during the third quarter worth about $29,000. Finally, Birchwood Financial Partners Inc. acquired a new stake in shares of Vulcan Materials during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

About Vulcan Materials

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.