Brokerages Set Vulcan Materials (NYSE:VMC) Price Target at $301.18

Vulcan Materials (NYSE:VMC) has been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $301.18.

Several analysts recently issued reports on the company. StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Truist Financial increased their price objective on Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stephens restated an “overweight” rating and set a $325.00 target price on shares of Vulcan Materials in a report on Thursday, January 2nd. JPMorgan Chase & Co. increased their price target on shares of Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Finally, Raymond James decreased their price objective on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating for the company in a research report on Thursday, January 16th.

Vulcan Materials Trading Up 0.5 %

Shares of NYSE:VMC opened at $270.58 on Thursday. The company’s 50-day moving average price is $267.64 and its two-hundred day moving average price is $261.55. Vulcan Materials has a one year low of $225.36 and a one year 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 $35.73 billion, a PE ratio of 42.68, a price-to-earnings-growth ratio of 2.14 and a beta of 0.84.

Vulcan Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a $0.49 dividend. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 0.72%. Vulcan Materials’s dividend payout ratio is currently 29.02%.

Hedge Funds Weigh In On Vulcan Materials

Several institutional investors and hedge funds have recently made changes to their positions in VMC. Virtu Financial LLC bought a new stake in Vulcan Materials in the 3rd quarter valued at $811,000. DAVENPORT & Co LLC boosted its position in shares of Vulcan Materials by 149.4% in the fourth quarter. DAVENPORT & Co LLC now owns 9,393 shares of the construction company’s stock valued at $2,416,000 after acquiring an additional 5,627 shares during the period. Smith Group Asset Management LLC acquired a new position in shares of Vulcan Materials in the fourth quarter valued at about $514,000. Campbell Newman Asset Management Inc. bought a new position in Vulcan Materials during the fourth quarter worth about $15,719,000. Finally, Franklin Resources Inc. raised its stake in Vulcan Materials by 284.9% in the 3rd quarter. Franklin Resources Inc. now owns 44,650 shares of the construction company’s stock worth $11,104,000 after purchasing an additional 33,051 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

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.