Vulcan Materials (NYSE:VMC) Given New $273.00 Price Target at Morgan Stanley

Vulcan Materials (NYSE:VMC - Free Report) had its price objective trimmed by Morgan Stanley from $300.00 to $273.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the construction company's stock.

VMC has been the subject of a number of other reports. Stifel Nicolaus started coverage on Vulcan Materials in a research report on Tuesday, March 4th. They set a "buy" rating and a $287.00 price objective for the company. UBS Group cut shares of Vulcan Materials from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $343.00 to $258.00 in a research note on Monday, April 7th. Raymond James reduced their target price on shares of Vulcan Materials from $298.00 to $295.00 and set an "outperform" rating for the company in a research note on Thursday, January 16th. JPMorgan Chase & Co. upgraded shares of Vulcan Materials from a "neutral" rating to an "overweight" rating and reduced their price objective for the company from $290.00 to $285.00 in a research report on Wednesday, March 19th. Finally, Citigroup reissued a "buy" rating on shares of Vulcan Materials in a research note on Monday, March 24th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Vulcan Materials currently has an average rating of "Moderate Buy" and a consensus target price of $293.64.

Vulcan Materials Stock Performance

Shares of VMC stock traded down $7.58 during mid-day trading on Wednesday, hitting $234.35. 622,588 shares of the stock were exchanged, compared to its average volume of 924,727. Vulcan Materials has a 12-month low of $215.08 and a 12-month high of $298.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.02 and a current ratio of 1.83. The stock has a market capitalization of $31.00 billion, a price-to-earnings ratio of 34.21, a P/E/G ratio of 2.03 and a beta of 0.80. The stock's fifty day simple moving average is $241.50 and its two-hundred day simple moving average is $259.57.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.41. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the firm posted $1.46 earnings per share. On average, analysts forecast that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a dividend of $0.49 per share. This is a boost from Vulcan Materials's previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Monday, March 10th. Vulcan Materials's dividend payout ratio (DPR) is currently 28.61%.

Hedge Funds Weigh In On Vulcan Materials

Several institutional investors and hedge funds have recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in shares of Vulcan Materials during the 1st quarter worth $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in Vulcan Materials in the 4th quarter worth about $30,000. SBI Securities Co. Ltd. purchased a new stake in Vulcan Materials in the 4th quarter valued at about $31,000. Generali Asset Management SPA SGR acquired a new position in shares of Vulcan Materials during the 4th quarter valued at about $32,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Vulcan Materials in the fourth quarter worth approximately $35,000. Hedge funds and other 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.