Vulcan Materials (NYSE:VMC) Coverage Initiated at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Vulcan Materials (NYSE:VMC - Free Report) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $287.00 target price on the construction company's stock.

A number of other analysts have also weighed in on VMC. Morgan Stanley upped their target price on shares of Vulcan Materials from $295.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Monday, February 24th. Stephens reissued an "overweight" rating and issued a $325.00 price objective on shares of Vulcan Materials in a research report on Thursday, January 2nd. Royal Bank of Canada lifted their price objective on shares of Vulcan Materials from $269.00 to $286.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 19th. Raymond James lowered 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. Finally, UBS Group assumed coverage on Vulcan Materials in a research note on Thursday, November 7th. They issued a "buy" rating and a $349.00 price target on the stock. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Vulcan Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $303.08.

Remove Ads

Vulcan Materials Stock Down 5.8 %

VMC stock traded down $13.70 during midday trading on Tuesday, hitting $221.47. The company's stock had a trading volume of 3,778,923 shares, compared to its average volume of 887,214. The firm has a 50-day simple moving average of $262.19 and a 200-day simple moving average of $261.38. The firm has a market capitalization of $29.26 billion, a P/E ratio of 32.33, a PEG ratio of 2.03 and a beta of 0.80. The company has a quick ratio of 2.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.60. Vulcan Materials has a 52-week low of $218.71 and a 52-week high of $298.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.41. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the business posted $1.46 earnings per share. As a group, equities 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 will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Vulcan Materials's previous quarterly dividend of $0.46. Vulcan Materials's dividend payout ratio (DPR) is currently 28.61%.

Institutional Investors Weigh In On Vulcan Materials

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in shares of Vulcan Materials in the 3rd quarter valued at $811,000. DAVENPORT & Co LLC grew its position in Vulcan Materials by 149.4% during the 4th quarter. DAVENPORT & Co LLC now owns 9,393 shares of the construction company's stock worth $2,416,000 after purchasing an additional 5,627 shares during the last quarter. Smith Group Asset Management LLC acquired a new position in Vulcan Materials in the fourth quarter valued at $514,000. Campbell Newman Asset Management Inc. purchased a new stake in shares of Vulcan Materials in the fourth quarter valued at about $15,719,000. Finally, Franklin Resources Inc. boosted its stake in shares of Vulcan Materials by 284.9% during the third quarter. Franklin Resources Inc. now owns 44,650 shares of the construction company's stock worth $11,104,000 after buying an additional 33,051 shares during the period. 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.