Vulcan Materials (NYSE:VMC) Given New $315.00 Price Target at Truist Financial

Vulcan Materials (NYSE:VMC - Free Report) had its price objective increased by Truist Financial from $300.00 to $315.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has a buy rating on the construction company's stock.

Other analysts have also issued research reports about the company. Citigroup cut their target price on Vulcan Materials from $297.00 to $292.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Stephens decreased their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an "overweight" rating on the stock in a research note on Thursday, August 8th. Barclays increased their price target on shares of Vulcan Materials from $250.00 to $285.00 and gave the company an "overweight" rating in a research report on Tuesday. StockNews.com cut shares of Vulcan Materials from a "hold" rating to a "sell" rating in a research report on Saturday, October 12th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Vulcan Materials from $250.00 to $245.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $274.75.

Vulcan Materials Price Performance

Shares of VMC stock traded down $3.54 during trading on Friday, hitting $270.39. The company had a trading volume of 984,352 shares, compared to its average volume of 837,159. The stock's 50-day moving average is $247.39 and its two-hundred day moving average is $252.18. The stock has a market capitalization of $35.71 billion, a price-to-earnings ratio of 43.21, a price-to-earnings-growth ratio of 2.60 and a beta of 0.82. The company has a quick ratio of 1.66, a current ratio of 2.86 and a debt-to-equity ratio of 0.42. Vulcan Materials has a 52 week low of $206.02 and a 52 week high of $279.47.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing analysts' consensus estimates of $2.34 by ($0.12). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the company earned $2.29 EPS. The firm's revenue was down 8.3% compared to the same quarter last year. As a group, analysts predict that Vulcan Materials will post 7.39 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 annualized dividend and a yield of 0.68%. Vulcan Materials's payout ratio is 29.02%.

Institutional Trading of Vulcan Materials

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors purchased a new stake in Vulcan Materials in the first quarter worth about $388,027,000. Principal Financial Group Inc. boosted its position in shares of Vulcan Materials by 19.9% in the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company's stock worth $1,332,431,000 after purchasing an additional 884,580 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Vulcan Materials by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company's stock worth $4,368,273,000 after buying an additional 755,991 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Vulcan Materials by 18.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company's stock valued at $533,551,000 after buying an additional 330,433 shares in the last quarter. Finally, Ceredex Value Advisors LLC raised its stake in Vulcan Materials by 136.3% during the third quarter. Ceredex Value Advisors LLC now owns 355,857 shares of the construction company's stock valued at $89,117,000 after buying an additional 205,260 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

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.