Vulcan Materials (NYSE:VMC) Price Target Raised to $342.00

Vulcan Materials (NYSE:VMC) had its price objective hoisted by Stifel Nicolaus from $320.00 to $342.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other equities research analysts also recently commented on the company. DA Davidson raised their target price on Vulcan Materials from $315.00 to $330.00 and gave the company a “buy” rating in a report on Friday, October 30th. Wall Street Zen cut Vulcan Materials from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. UBS Group lowered their price objective on shares of Vulcan Materials from $349.00 to $326.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. Stephens increased their price objective on shares of Vulcan Materials from $285.00 to $315.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. Finally, Citigroup lifted their price objective on shares of Vulcan Materials from $300.00 to $326.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Twelve research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $311.94.

Vulcan Materials Stock Down 1.0%

Shares of NYSE VMC opened at $284.33 on Monday. The stock has a fifty day moving average price of $258.26 and a 200 day moving average price of $279.83. The company has a current ratio of 1.43, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. Vulcan Materials has a 12-month low of $237.03 and a 12-month high of $331.09. The company has a market cap of $36.49 billion, a P/E ratio of 33.65, a P/E/G ratio of 2.97 and a beta of 0.99.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Thursday, October 29th. The construction company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.02. Vulcan Materials had a return on equity of 13.03% and a net margin of 13.77%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business earned $2.84 earnings per share. The company’s revenue was down 4.7% compared to the same quarter last year. Research analysts anticipate that Vulcan Materials will post 8.89 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, November 9th will be paid 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 (DPR) is currently 24.62%.

Insider Buying and Selling at Vulcan Materials

In other news, Director J. Hill sold 28,000 shares of Vulcan Materials stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $285.40, for a total transaction of $7,991,200.00. Following the sale, the director directly owned 30,209 shares of the company’s stock, valued at approximately $8,621,648.60. The trade was a 48.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Burkett Financial Services LLC acquired a new stake in Vulcan Materials during the 2nd quarter valued at approximately $25,000. Meeder Asset Management Inc. raised its position in shares of Vulcan Materials by 71.7% in the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock valued at $28,000 after purchasing an additional 43 shares in the last quarter. Clearstead Trust LLC acquired a new position in shares of Vulcan Materials in the 2nd quarter valued at approximately $37,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Vulcan Materials in the 2nd quarter valued at approximately $51,000. Finally, Western Wealth Management LLC acquired a new position in shares of Vulcan Materials in the 1st quarter valued at approximately $57,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Company Profile

Vulcan Materials Company is a U.S.-based producer of construction materials, with its core business focused on aggregates such as crushed stone, sand and gravel. These materials are used in roads, buildings and other infrastructure projects. The company also produces asphalt mix and ready-mixed concrete, serving customers in the construction and infrastructure industries. Its operations are concentrated across the southern and western United States, as well as parts of the Mid-Atlantic region. Founded in 1909 and headquartered in Birmingham, Alabama, Vulcan Materials has grown into one of the largest producers of construction aggregates in the United States.