Vulcan Materials (NYSE:VMC) Shares Gap Up After Analyst Upgrade

Vulcan Materials (NYSE:VMC)’s share price gapped up prior to trading on Wednesday after Barclays raised their price target on the stock from $250.00 to $285.00. The stock had previously closed at $259.55, but opened at $270.00. Barclays currently has an overweight rating on the stock. Vulcan Materials shares last traded at $271.72, with a volume of 157,828 shares trading hands.

Other research analysts have also recently issued research reports about the company. Stephens decreased 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. Loop Capital decreased their target price on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Truist Financial decreased their target price on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada cut their price target on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Finally, StockNews.com lowered Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Saturday, October 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $273.50.

Hedge Funds Weigh In On Vulcan Materials

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SouthState Corp lifted its stake in shares of Vulcan Materials by 669.2% in the second 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 acquired a new position in Vulcan Materials in the second quarter valued at approximately $27,000. UMB Bank n.a. lifted its stake in 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 buying an additional 47 shares during the period. Concord Wealth Partners acquired a new position in Vulcan Materials in the third quarter valued at approximately $35,000. Finally, Manchester Capital Management LLC lifted its stake in Vulcan Materials by 1,218.2% in the first quarter. Manchester Capital Management LLC now owns 145 shares of the construction company’s stock valued at $40,000 after buying an additional 134 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Stock Performance

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 company has a 50 day simple moving average of $246.87 and a 200-day simple moving average of $252.02. The stock has a market capitalization of $36.47 billion, a price-to-earnings ratio of 40.32, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last issued its quarterly 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). Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the firm posted $2.29 earnings per share. Vulcan Materials’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, equities research analysts expect that Vulcan Materials will post 7.58 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.46 per share. The ex-dividend date is Monday, November 4th. This represents a $1.84 annualized dividend and a dividend yield of 0.67%. Vulcan Materials’s dividend payout ratio is 26.86%.

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.