Vulcan Materials (NYSE:VMC) Upgraded by JPMorgan Chase & Co. to “Overweight” Rating

JPMorgan Chase & Co. upgraded shares of Vulcan Materials (NYSE:VMC) from a neutral rating to an overweight rating in a report released on Wednesday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $285.00 price objective on the construction company’s stock, down from their previous price objective of $290.00.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley lifted their price objective on Vulcan Materials from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. Stifel Nicolaus started coverage on Vulcan Materials in a report on Tuesday, March 4th. They issued a “buy” rating and a $287.00 price target for the company. Royal Bank of Canada increased their price objective on shares of Vulcan Materials from $269.00 to $286.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 19th. Stephens reaffirmed an “overweight” rating and set a $325.00 price target on shares of Vulcan Materials in a research report on Thursday, January 2nd. Finally, Citigroup cut their price target on shares of Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $302.67.

Vulcan Materials Price Performance

NYSE:VMC opened at $241.38 on Wednesday. Vulcan Materials has a 12-month low of $215.08 and a 12-month high of $298.31. The firm has a market cap of $31.89 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 2.03 and a beta of 0.80. The company’s 50-day moving average is $257.26 and its two-hundred day moving average is $260.50. The company has a current ratio of 1.83, a quick ratio of 2.02 and a debt-to-equity ratio of 0.60.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.41. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.81 billion. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Research analysts expect that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a $0.49 dividend. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Monday, March 10th. Vulcan Materials’s dividend payout ratio is currently 28.61%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Vulcan Materials during the 4th quarter valued at about $30,000. SBI Securities Co. Ltd. acquired a new stake in Vulcan Materials in the fourth quarter valued at approximately $31,000. Generali Asset Management SPA SGR purchased a new stake in shares of Vulcan Materials during the fourth quarter valued at approximately $32,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Vulcan Materials during the fourth quarter valued at approximately $35,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Vulcan Materials during the fourth quarter worth $46,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Company Profile

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.