Truist Financial Increases Vulcan Materials (NYSE:VMC) Price Target to $315.00

Vulcan Materials (NYSE:VMC) had its price objective hoisted by Truist Financial from $300.00 to $315.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

VMC has been the topic of several other research reports. Barclays lifted their price target on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. dropped their target price on shares of Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. StockNews.com downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th. Stephens dropped their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, Citigroup dropped their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Vulcan Materials presently has an average rating of “Moderate Buy” and a consensus price target of $274.75.

Vulcan Materials Stock Performance

Vulcan Materials stock opened at $268.86 on Friday. Vulcan Materials has a 12-month low of $206.11 and a 12-month high of $279.47. The company has a market capitalization of $35.51 billion, a price-to-earnings ratio of 42.41, a price-to-earnings-growth ratio of 2.60 and a beta of 0.80. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 1.66. The firm’s fifty day moving average price is $248.07 and its 200 day moving average price is $252.25.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.12). Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period last year, the firm earned $2.29 EPS. The business’s quarterly revenue was down 8.3% on a year-over-year basis. On average, research analysts forecast that Vulcan Materials will post 7.32 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s dividend payout ratio is presently 29.02%.

Institutional Investors Weigh In On Vulcan Materials

A number of institutional investors have recently modified their holdings of the business. SouthState Corp boosted its stake in Vulcan Materials by 669.2% during the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after purchasing an additional 87 shares during the period. Kings Path Partners LLC acquired a new position in Vulcan Materials during the 2nd quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new position in Vulcan Materials during the 3rd quarter valued at about $30,000. UMB Bank n.a. boosted its stake in Vulcan Materials by 61.8% during the 2nd 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 during the period. Finally, Concord Wealth Partners acquired a new position in Vulcan Materials during the 3rd quarter valued at about $35,000. 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.