Vulcan Materials (NYSE:VMC) Price Target Lowered to $301.00 at Citigroup

Vulcan Materials (NYSE:VMC) had its price target lowered by Citigroup from $325.00 to $301.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other brokerages have also commented on VMC. Stephens reiterated an “overweight” rating and issued a $325.00 target price on shares of Vulcan Materials in a research report on Thursday, January 2nd. StockNews.com raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Truist Financial increased their target price on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. UBS Group began coverage on shares of Vulcan Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target for the company. Finally, Barclays increased their price objective 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. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $288.83.

Vulcan Materials Trading Up 0.1 %

VMC opened at $257.27 on Monday. Vulcan Materials has a 12-month low of $219.73 and a 12-month high of $298.31. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02. The stock has a market capitalization of $33.98 billion, a PE ratio of 40.58, a P/E/G ratio of 2.67 and a beta of 0.83. The firm’s fifty day moving average price is $275.78 and its 200 day moving average price is $258.10.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.29 EPS. As a group, research analysts expect that Vulcan Materials will post 7.16 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Monday, November 4th. Vulcan Materials’s payout ratio is currently 29.02%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Principal Financial Group Inc. grew its position in Vulcan Materials by 19.9% in the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock valued at $1,332,431,000 after buying an additional 884,580 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Vulcan Materials by 18.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock worth $533,551,000 after acquiring an additional 330,433 shares during the period. Ceredex Value Advisors LLC boosted its holdings in shares of Vulcan Materials by 136.3% in the third quarter. Ceredex Value Advisors LLC now owns 355,857 shares of the construction company’s stock valued at $89,117,000 after acquiring an additional 205,260 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Vulcan Materials by 32.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 736,146 shares of the construction company’s stock valued at $184,353,000 after acquiring an additional 178,634 shares during the period. Finally, Stockbridge Partners LLC raised its holdings in Vulcan Materials by 9.6% during the third quarter. Stockbridge Partners LLC now owns 1,568,564 shares of the construction company’s stock worth $392,815,000 after purchasing an additional 137,365 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

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.