Vulcan Materials (NYSE:VMC) Price Target Raised to $300.00

Vulcan Materials (NYSE:VMC) had its price objective hoisted by Royal Bank Of Canada from $293.00 to $300.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a sector perform rating on the construction company’s stock.

A number of other analysts have also recently issued reports on the company. Stifel Nicolaus set a $333.00 price objective on Vulcan Materials in a report on Thursday, April 30th. Morgan Stanley reduced their target price on Vulcan Materials from $322.00 to $321.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Barclays upped their price target on Vulcan Materials from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Wall Street Zen downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Finally, Berenberg Bank set a $283.00 price objective on shares of Vulcan Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Vulcan Materials has an average rating of “Moderate Buy” and a consensus price target of $327.93.

Vulcan Materials Price Performance

VMC opened at $268.98 on Thursday. The company has a market capitalization of $34.85 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 1.93 and a beta of 1.05. The company has a quick ratio of 1.89, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $288.48 and a 200-day moving average price of $289.87. Vulcan Materials has a twelve month low of $252.35 and a twelve month high of $331.09.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Wednesday, July 29th. The construction company reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the company earned $2.42 earnings per share. Equities analysts expect that Vulcan Materials will post 9.29 EPS for the current year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, August 13th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.08 annualized dividend and a yield of 0.8%. Vulcan Materials’s dividend payout ratio (DPR) is currently 24.56%.

Insider Buying and Selling

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $292.29, for a total value of $646,545.48. Following the transaction, the senior vice president directly owned 8,716 shares in the company, valued at $2,547,599.64. This represents a 20.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is currently owned by insiders.

Institutional Trading of Vulcan Materials

A number of large investors have recently modified their holdings of VMC. Norges Bank purchased a new position in shares of Vulcan Materials in the 4th quarter worth about $383,613,000. Egerton Capital UK LLP purchased a new position in shares of Vulcan Materials during the 4th quarter valued at about $273,861,000. The Manufacturers Life Insurance Company raised its holdings in shares of Vulcan Materials by 908.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 755,682 shares of the construction company’s stock valued at $205,772,000 after buying an additional 680,761 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Vulcan Materials by 121.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 717,409 shares of the construction company’s stock worth $204,619,000 after buying an additional 393,339 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new stake in Vulcan Materials in the 3rd quarter worth approximately $98,911,000. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Company Profile

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.