Vulcan Materials (NYSE:VMC) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Vulcan Materials (NYSE:VMC) from a hold rating to a sell rating in a research note issued to investors on Saturday.

VMC has been the subject of a number of other research reports. JPMorgan Chase & Co. reduced their price objective on shares of Vulcan Materials from $250.00 to $245.00 and set a neutral rating for the company in a research note on Wednesday, October 9th. Citigroup cut 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. Stephens cut their target price on Vulcan Materials from $300.00 to $280.00 and set an overweight rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada lowered their price target on shares of Vulcan Materials from $267.00 to $257.00 and set a sector perform rating on the stock in a report on Wednesday, August 7th. Finally, Truist Financial lowered their target price on shares of Vulcan Materials from $320.00 to $300.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $272.45.

Vulcan Materials Price Performance

NYSE:VMC opened at $248.86 on Friday. Vulcan Materials has a 52 week low of $190.51 and a 52 week high of $278.79. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.43. The business’s 50-day simple moving average is $243.49 and its two-hundred day simple moving average is $252.66. The stock has a market cap of $32.91 billion, a PE ratio of 36.33, a P/E/G ratio of 2.28 and a beta of 0.82.

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

Vulcan Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be given a $0.46 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.84 annualized dividend and a yield of 0.74%. Vulcan Materials’s dividend payout ratio is presently 26.86%.

Hedge Funds Weigh In On Vulcan Materials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SouthState Corp raised its stake 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 in the last quarter. Register Financial Advisors LLC purchased a new stake in Vulcan Materials during the first quarter worth about $27,000. Kings Path Partners LLC purchased a new stake in shares of Vulcan Materials in the second quarter valued at about $27,000. UMB Bank n.a. lifted its holdings in shares of Vulcan Materials by 61.8% in the second quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock valued at $31,000 after purchasing an additional 47 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Vulcan Materials in the first quarter valued at about $33,000. Hedge funds and other 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.