Truist Financial Increases Vulcan Materials (NYSE:VMC) Price Target to $315.00

Vulcan Materials (NYSE:VMC) had its price objective upped by Truist Financial from $300.00 to $315.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Several other analysts have also 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 note on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on shares of Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Citigroup cut their price target on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barclays boosted their target price on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Finally, Stephens decreased their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $274.75.

Vulcan Materials Stock Down 0.4 %

VMC stock opened at $268.86 on Friday. Vulcan Materials has a 12 month low of $206.11 and a 12 month high of $279.47. The firm has a market cap of $35.51 billion, a PE ratio of 42.41, a P/E/G ratio of 2.60 and a beta of 0.80. The firm has a 50 day simple moving average of $248.07 and a 200 day simple moving average of $252.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 1.66.

Vulcan Materials (NYSE:VMC) last released its earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.12). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the company earned $2.29 earnings per share. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. Equities research analysts forecast that Vulcan Materials will post 7.32 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

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

Institutional Trading of Vulcan Materials

Several large investors have recently modified their holdings of VMC. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Vulcan Materials by 2.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,044 shares of the construction company’s stock worth $1,923,000 after buying an additional 193 shares during the period. State of Alaska Department of Revenue boosted its holdings in Vulcan Materials by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 14,416 shares of the construction company’s stock valued at $3,934,000 after purchasing an additional 65 shares during the period. First Trust Direct Indexing L.P. boosted its holdings in Vulcan Materials by 18.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 4,197 shares of the construction company’s stock valued at $1,145,000 after purchasing an additional 649 shares during the period. BNP Paribas Financial Markets boosted its holdings in Vulcan Materials by 13.4% in the 1st quarter. BNP Paribas Financial Markets now owns 76,356 shares of the construction company’s stock valued at $20,839,000 after purchasing an additional 9,031 shares during the period. Finally, Moloney Securities Asset Management LLC bought a new stake in Vulcan Materials in the 1st quarter valued at $914,000. 90.39% of the stock is owned by 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.