Vulcan Materials (NYSE:VMC) Price Target Raised to $272.00

Vulcan Materials (NYSE:VMC) had its price target increased by Royal Bank of Canada from $269.00 to $272.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a sector perform rating on the construction company’s stock.

VMC has been the topic of a number of other reports. The Goldman Sachs Group upped their price objective on Vulcan Materials from $264.00 to $292.00 and gave the company a buy rating in a report on Tuesday, February 20th. Morgan Stanley assumed coverage on Vulcan Materials in a report on Monday, January 8th. They set an equal weight rating and a $208.00 price target for the company. Citigroup boosted their price objective on shares of Vulcan Materials from $263.00 to $322.00 and gave the company a buy rating in a report on Friday, April 5th. JPMorgan Chase & Co. reaffirmed a neutral rating and set a $270.00 target price (up previously from $245.00) on shares of Vulcan Materials in a research note on Friday, March 22nd. Finally, Jefferies Financial Group boosted their price target on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a buy rating in a research note on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $277.08.

Vulcan Materials Stock Performance

VMC opened at $264.44 on Friday. Vulcan Materials has a twelve month low of $187.20 and a twelve month high of $276.58. The firm has a market capitalization of $34.98 billion, a PE ratio of 38.60, a PEG ratio of 1.98 and a beta of 0.83. The company has a current ratio of 2.74, a quick ratio of 2.39 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average price is $265.53 and its 200 day moving average price is $236.84.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Thursday, May 2nd. The construction company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.11). Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, sell-side analysts expect that Vulcan Materials will post 8.5 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.43. Vulcan Materials’s dividend payout ratio is currently 26.86%.

Insiders Place Their Bets

In related news, Director Melissa H. Anderson sold 1,200 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $260.48, for a total value of $312,576.00. Following the completion of the sale, the director now directly owns 330 shares of the company’s stock, valued at approximately $85,958.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Melissa H. Anderson sold 1,200 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $260.48, for a total transaction of $312,576.00. Following the completion of the sale, the director now owns 330 shares in the company, valued at approximately $85,958.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Denson N. Franklin III sold 3,200 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $269.48, for a total transaction of $862,336.00. Following the transaction, the senior vice president now directly owns 5,395 shares in the company, valued at $1,453,844.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,017 shares of company stock valued at $3,344,741. 0.62% of the stock is currently owned by insiders.

Institutional Trading of Vulcan Materials

Several institutional investors and hedge funds have recently added to or reduced their stakes in VMC. Commonwealth Equity Services LLC raised its stake in shares of Vulcan Materials by 1.4% during the third quarter. Commonwealth Equity Services LLC now owns 35,095 shares of the construction company’s stock worth $7,090,000 after purchasing an additional 500 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Vulcan Materials by 4.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 13,220 shares of the construction company’s stock worth $2,671,000 after acquiring an additional 551 shares during the period. Raymond James & Associates lifted its stake in shares of Vulcan Materials by 4.0% in the 3rd quarter. Raymond James & Associates now owns 211,962 shares of the construction company’s stock worth $42,821,000 after acquiring an additional 8,185 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Vulcan Materials by 10.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,574 shares of the construction company’s stock valued at $4,358,000 after acquiring an additional 2,015 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in shares of Vulcan Materials by 1.6% during the third quarter. Stratos Wealth Partners LTD. now owns 3,248 shares of the construction company’s stock worth $656,000 after acquiring an additional 51 shares during the period. 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.