Vulcan Materials (NYSE:VMC) Price Target Cut to $245.00

Vulcan Materials (NYSE:VMC) had its price objective reduced by JPMorgan Chase & Co. from $250.00 to $245.00 in a research report sent to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the construction company’s stock.

Other equities research analysts also recently issued reports about the stock. Truist Financial decreased their price target on shares of Vulcan Materials from $320.00 to $300.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada decreased their price target on shares of Vulcan Materials from $267.00 to $257.00 and set a sector perform rating for the company in a research note on Wednesday, August 7th. StockNews.com downgraded shares of Vulcan Materials from a hold rating to a sell rating in a research note on Tuesday, October 1st. Loop Capital decreased their price target on shares of Vulcan Materials from $305.00 to $285.00 and set a buy rating for the company in a research note on Wednesday, July 3rd. Finally, Citigroup decreased their price target on shares of Vulcan Materials from $297.00 to $292.00 and set a buy rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $272.45.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $247.51 on Wednesday. Vulcan Materials has a twelve month low of $190.51 and a twelve month high of $278.79. The firm has a fifty day simple moving average of $243.67 and a 200 day simple moving average of $252.97. The company has a market capitalization of $32.69 billion, a PE ratio of 36.13, a P/E/G ratio of 2.28 and a beta of 0.82. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.43.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the business earned $2.29 EPS. Vulcan Materials’s quarterly revenue was down 4.7% on a year-over-year basis. On average, sell-side analysts forecast that Vulcan Materials will post 7.69 EPS for the current year.

Vulcan Materials Announces Dividend

The company also recently declared 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. This represents a $1.84 annualized dividend and a yield of 0.74%. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

Institutional Trading of Vulcan Materials

Hedge funds and other institutional investors have recently modified their holdings of the business. Register Financial Advisors LLC bought a new stake in shares of Vulcan Materials in the first quarter valued at approximately $27,000. SouthState Corp increased its holdings in Vulcan Materials by 669.2% during the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after acquiring an additional 87 shares during the period. Kings Path Partners LLC bought a new stake in Vulcan Materials during the 2nd quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new stake in Vulcan Materials during the 1st quarter worth approximately $33,000. Finally, UMB Bank n.a. increased its holdings in Vulcan Materials by 61.8% during the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock worth $31,000 after acquiring an additional 47 shares during the period. Institutional investors 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.