Vulcan Materials (NYSE:VMC) Shares Gap Up After Analyst Upgrade

Vulcan Materials (NYSE:VMC)’s share price 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 traded.

Several other equities research analysts also recently issued reports on VMC. JPMorgan Chase & Co. decreased their price target on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. StockNews.com downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a report on Saturday, October 12th. Stephens decreased their price target on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Truist Financial cut their price objective on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada cut their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.50.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VMC. Wealth Enhancement Advisory Services LLC lifted its position 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 valued at $1,923,000 after buying an additional 193 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Vulcan Materials by 0.5% during 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 buying an additional 65 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of Vulcan Materials by 18.3% during 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 buying an additional 649 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Vulcan Materials by 2.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 10,396 shares of the construction company’s stock valued at $2,664,000 after buying an additional 281 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Vulcan Materials by 13.4% during the 1st quarter. BNP Paribas Financial Markets now owns 76,356 shares of the construction company’s stock worth $20,839,000 after purchasing an additional 9,031 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Price Performance

The business has a fifty day moving average of $246.87 and a 200-day moving average of $252.02. The firm has a market cap of $36.47 billion, a PE ratio of 40.32, a PEG ratio of 2.35 and a beta of 0.82. The company has a current ratio of 2.48, a quick ratio of 1.66 and a debt-to-equity ratio of 0.43.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period last year, the company posted $2.29 EPS. As a group, research analysts predict that Vulcan Materials will post 7.58 earnings per share for the current year.

Vulcan Materials Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a yield of 0.67%. Vulcan Materials’s dividend payout ratio (DPR) is 26.86%.

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.