Vulcan Materials (NYSE:VMC) Price Target Raised to $300.00

Vulcan Materials (NYSE:VMC) had its target price boosted by Morgan Stanley from $295.00 to $300.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an equal weight rating on the construction company’s stock.

A number of other brokerages have also weighed in on VMC. Royal Bank of Canada upped their price target on shares of Vulcan Materials from $269.00 to $286.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 19th. Barclays increased their price target on Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Raymond James dropped their price objective on Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a research note on Thursday, January 16th. Truist Financial upped their price objective on Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Citigroup lowered their target price on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $304.55.

Vulcan Materials Stock Performance

VMC opened at $250.36 on Monday. Vulcan Materials has a twelve month low of $225.36 and a twelve month high of $298.31. The stock has a market cap of $33.06 billion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84. The business’s 50 day moving average is $264.94 and its 200-day moving average is $261.65. The company has a current ratio of 1.83, a quick ratio of 2.02 and a debt-to-equity ratio of 0.60.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.41. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the prior year, the business posted $1.46 earnings per share. On average, analysts predict that Vulcan Materials will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 0.78%. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, March 10th. Vulcan Materials’s payout ratio is presently 28.61%.

Institutional Investors Weigh In On Vulcan Materials

Institutional investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new stake in shares of Vulcan Materials during the third quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Vulcan Materials during the 4th quarter valued at $30,000. SBI Securities Co. Ltd. purchased a new position in shares of Vulcan Materials during the 4th quarter valued at $31,000. Generali Asset Management SPA SGR purchased a new stake in shares of Vulcan Materials during the fourth quarter worth $32,000. Finally, Concord Wealth Partners acquired a new stake in Vulcan Materials during the third quarter valued at $35,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Vulcan Materials Company Profile

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.