Vulcan Materials (NYSE:VMC) Price Target Raised to $272.00 at Royal Bank of Canada

Vulcan Materials (NYSE:VMC) had its price objective boosted by Royal Bank of Canada from $269.00 to $272.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a sector perform rating on the construction company’s stock.

A number of other equities analysts also recently commented on VMC. Truist Financial raised their price objective on Vulcan Materials from $300.00 to $320.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. Wolfe Research cut shares of Vulcan Materials from an outperform rating to a peer perform rating in a research report on Friday, March 8th. Morgan Stanley initiated coverage on Vulcan Materials in a research report on Monday, January 8th. They issued an equal weight rating and a $208.00 target price for the company. Jefferies Financial Group raised their target price on Vulcan Materials from $298.00 to $319.00 and gave the company a buy rating in a report on Thursday, April 18th. Finally, JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $270.00 price objective (up previously from $245.00) on shares of Vulcan Materials in a research report on Friday, March 22nd. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $277.08.

Vulcan Materials Stock Up 0.8 %

VMC opened at $266.61 on Friday. The firm has a market cap of $35.26 billion, a P/E ratio of 38.92, a PEG ratio of 1.97 and a beta of 0.83. The business’s fifty day simple moving average is $265.64 and its 200 day simple moving average is $237.29. Vulcan Materials has a 52 week low of $190.51 and a 52 week high of $276.58. The company has a quick ratio of 1.81, a current ratio of 2.74 and a debt-to-equity ratio of 0.44.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.11). Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business earned $0.95 EPS. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, equities research analysts anticipate that Vulcan Materials will post 8.5 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.69%. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, March 1st. Vulcan Materials’s payout ratio is 26.86%.

Insider Buying and Selling

In related news, Director Melissa H. Anderson sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $260.48, for a total value of $312,576.00. Following the sale, the director now directly owns 330 shares in the company, valued at approximately $85,958.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Vulcan Materials news, Director Melissa H. Anderson sold 1,200 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $260.48, for a total transaction of $312,576.00. Following the sale, the director now directly owns 330 shares in the company, valued at approximately $85,958.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stanley G. Bass sold 8,310 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $251.68, for a total transaction of $2,091,460.80. Following the transaction, the insider now owns 29,311 shares in the company, valued at approximately $7,376,992.48. The disclosure for this sale can be found here. Insiders have sold 13,017 shares of company stock worth $3,344,741 over the last ninety days. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Vulcan Materials

A number of hedge funds and other institutional investors have recently modified their holdings of VMC. Contravisory Investment Management Inc. raised its holdings in shares of Vulcan Materials by 1.6% during the first quarter. Contravisory Investment Management Inc. now owns 2,579 shares of the construction company’s stock valued at $704,000 after acquiring an additional 40 shares during the period. Commerce Bank grew its position in Vulcan Materials by 1.0% during the 4th quarter. Commerce Bank now owns 4,442 shares of the construction company’s stock worth $1,008,000 after purchasing an additional 43 shares in the last quarter. Brighton Jones LLC raised its stake in Vulcan Materials by 2.4% during the 4th quarter. Brighton Jones LLC now owns 1,916 shares of the construction company’s stock valued at $435,000 after purchasing an additional 45 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in shares of Vulcan Materials by 1.6% in the third quarter. Stratos Wealth Partners LTD. now owns 3,248 shares of the construction company’s stock valued at $656,000 after purchasing an additional 51 shares in the last quarter. Finally, Greenleaf Trust boosted its position in shares of Vulcan Materials by 2.7% in the third quarter. Greenleaf Trust now owns 2,008 shares of the construction company’s stock worth $406,000 after buying an additional 52 shares during the period. Institutional investors and hedge funds 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.