Vulcan Materials (NYSE:VMC - Get Free Report) shares gapped up before the market opened on Wednesday after Barclays raised their price target on the stock from $250.00 to $285.00. The stock had previously closed at $259.55, but opened at $270.00. Barclays currently has an overweight rating on the stock. Vulcan Materials shares last traded at $271.72, with a volume of 157,828 shares trading hands.
A number of other equities research analysts also recently commented on the stock. Royal Bank of Canada cut their target price on shares of Vulcan Materials from $267.00 to $257.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 7th. StockNews.com cut Vulcan Materials from a "hold" rating to a "sell" rating in a research report on Saturday, October 12th. Loop Capital cut their target price on shares of Vulcan Materials from $305.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday, July 3rd. Citigroup cut their price objective on shares of Vulcan Materials from $297.00 to $292.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Finally, Truist Financial decreased their target price on Vulcan Materials from $320.00 to $300.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $273.50.
Check Out Our Latest Stock Report on Vulcan Materials
Hedge Funds Weigh In On Vulcan Materials
Several institutional investors have recently bought and sold shares of VMC. SouthState Corp raised its stake in Vulcan Materials by 669.2% during the second quarter. SouthState Corp now owns 100 shares of the construction company's stock valued at $25,000 after purchasing an additional 87 shares in the last quarter. Kings Path Partners LLC bought a new position in shares of Vulcan Materials during the 2nd quarter valued at approximately $27,000. UMB Bank n.a. increased its position in shares of Vulcan Materials by 61.8% during the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company's stock valued at $31,000 after purchasing an additional 47 shares during the last quarter. Concord Wealth Partners bought a new stake in Vulcan Materials in the third quarter worth $35,000. Finally, Manchester Capital Management LLC lifted its position in Vulcan Materials by 1,218.2% in the first quarter. Manchester Capital Management LLC now owns 145 shares of the construction company's stock worth $40,000 after buying an additional 134 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.
Vulcan Materials Price Performance
The company has a market capitalization of $36.66 billion, a PE ratio of 40.44, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.43. The firm's 50 day simple moving average is $246.31 and its 200 day simple moving average is $251.85.
Vulcan Materials (NYSE:VMC - Get Free Report) last released its earnings results on Tuesday, August 6th. The construction company reported $2.35 EPS for the quarter, missing analysts' consensus estimates of $2.47 by ($0.12). Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company posted $2.29 EPS. The company's quarterly revenue was down 4.7% compared to the same quarter last year. As a group, research analysts anticipate that Vulcan Materials will post 7.58 EPS for the current fiscal year.
Vulcan Materials Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Monday, November 4th. Vulcan Materials's payout ratio is presently 26.86%.
Vulcan Materials Company Profile
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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.
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