Vulcan Materials (NYSE:VMC) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Vulcan Materials (NYSE:VMC) had its target price upped by Royal Bank of Canada from $269.00 to $286.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a sector perform rating on the construction company’s stock.

A number of other research analysts also recently issued reports on the company. Barclays raised their price target on Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. UBS Group began coverage on Vulcan Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $349.00 target price on the stock. Truist Financial increased their price target on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their target price on shares of Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Finally, Stephens reissued an “overweight” rating and set a $325.00 price target on shares of Vulcan Materials in a report on Thursday, January 2nd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $303.82.

Vulcan Materials Stock Down 2.9 %

Shares of Vulcan Materials stock opened at $264.84 on Wednesday. Vulcan Materials has a 52-week low of $225.36 and a 52-week high of $298.31. The company has a 50 day moving average of $267.35 and a 200 day moving average of $261.43. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $34.98 billion, a P/E ratio of 41.77, a P/E/G ratio of 2.09 and a beta of 0.84.

Vulcan Materials (NYSE:VMC) last announced its quarterly 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. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.81 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. During the same period in the previous year, the business earned $1.46 EPS. As a group, research analysts forecast that Vulcan Materials will post 7.16 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.49 per share. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 0.74%. The ex-dividend date is Monday, March 10th. Vulcan Materials’s dividend payout ratio is presently 29.02%.

Institutional Investors Weigh In On Vulcan Materials

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in Vulcan Materials in the 3rd quarter valued at approximately $811,000. DAVENPORT & Co LLC grew its holdings in Vulcan Materials by 149.4% in the fourth quarter. DAVENPORT & Co LLC now owns 9,393 shares of the construction company’s stock valued at $2,416,000 after purchasing an additional 5,627 shares during the last quarter. Smith Group Asset Management LLC purchased a new position in shares of Vulcan Materials in the fourth quarter valued at $514,000. Campbell Newman Asset Management Inc. acquired a new position in shares of Vulcan Materials during the 4th quarter worth $15,719,000. Finally, Franklin Resources Inc. boosted its position in shares of Vulcan Materials by 284.9% in the 3rd 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 in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.