Vulcan Materials (NYSE:VMC) Price Target Raised to $325.00

Vulcan Materials (NYSE:VMC) had its price objective upped by Raymond James Financial from $295.00 to $325.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

Other analysts have also issued reports about the company. Royal Bank Of Canada lowered their price objective on Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating for the company in a research report on Friday, August 1st. Citigroup reaffirmed a “buy” rating and issued a $321.00 target price (up previously from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Barclays boosted their price target on shares of Vulcan Materials from $305.00 to $320.00 and gave the stock an “overweight” rating in a research note on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vulcan Materials in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $313.17.

Vulcan Materials Stock Performance

VMC stock opened at $292.06 on Tuesday. The company has a 50 day moving average price of $296.35 and a 200 day moving average price of $274.79. Vulcan Materials has a fifty-two week low of $215.08 and a fifty-two week high of $311.74. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13. The stock has a market capitalization of $38.59 billion, a PE ratio of 40.79, a price-to-earnings-growth ratio of 2.39 and a beta of 0.92.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.45 EPS for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.20). The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.23 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.35 earnings per share. Analysts forecast that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Monday, November 10th will be issued a dividend of $0.49 per share. The ex-dividend date is Monday, November 10th. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. Vulcan Materials’s payout ratio is currently 27.37%.

Insider Buying and Selling

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $298.56, for a total value of $208,394.88. Following the sale, the senior vice president directly owned 2,832 shares in the company, valued at approximately $845,521.92. This trade represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.62% of the company’s stock.

Institutional Trading of Vulcan Materials

A number of large investors have recently made changes to their positions in the company. ORG Partners LLC raised its stake in Vulcan Materials by 86.3% during the 2nd quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock worth $25,000 after buying an additional 44 shares during the period. Atlantic Union Bankshares Corp bought a new stake in shares of Vulcan Materials in the second quarter worth about $32,000. Concord Wealth Partners bought a new stake in shares of Vulcan Materials in the second quarter worth about $33,000. Manchester Capital Management LLC raised its position in shares of Vulcan Materials by 26.9% during the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company’s stock worth $43,000 after purchasing an additional 39 shares during the period. Finally, Wayfinding Financial LLC bought a new position in shares of Vulcan Materials during the 1st quarter valued at about $45,000. Institutional investors own 90.39% of the company’s stock.

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.