JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Vulcan Materials (NYSE:VMC) Stock

Vulcan Materials (NYSE:VMC) had its price target lifted by JPMorgan Chase & Co. from $245.00 to $290.00 in a report published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the construction company’s stock.

A number of other equities research analysts have also recently commented on VMC. StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Citigroup dropped their target price on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Barclays raised their target price on Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. UBS Group assumed coverage on Vulcan Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $349.00 target price on the stock. Finally, Royal Bank of Canada dropped their target price 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. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $283.92.

Vulcan Materials Price Performance

Shares of VMC opened at $288.13 on Wednesday. The business’s 50-day moving average is $265.28 and its two-hundred day moving average is $255.27. The company has a market capitalization of $38.05 billion, a P/E ratio of 45.45, a P/E/G ratio of 2.77 and a beta of 0.81. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. Vulcan Materials has a fifty-two week low of $209.60 and a fifty-two week high of $298.31.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.12). The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. Vulcan Materials’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.29 earnings per share. Research analysts predict that Vulcan Materials will post 7.16 earnings per share for the current year.

Vulcan Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 4th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.64%. The ex-dividend date was Monday, November 4th. Vulcan Materials’s payout ratio is 29.02%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. SouthState Corp raised its position in shares of Vulcan Materials by 669.2% during the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after buying an additional 87 shares during the period. Kings Path Partners LLC purchased a new stake in shares of Vulcan Materials during the 2nd quarter valued at approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Vulcan Materials during the 3rd quarter valued at approximately $30,000. UMB Bank n.a. raised its position in shares of Vulcan Materials by 61.8% during the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock valued at $31,000 after buying an additional 47 shares during the period. Finally, Concord Wealth Partners purchased a new stake in shares of Vulcan Materials during the 3rd quarter valued at approximately $35,000. 90.39% of the stock is owned by hedge funds and other 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.