Vulcan Materials (NYSE:VMC) Given New $272.00 Price Target at Royal Bank of Canada

Vulcan Materials (NYSE:VMC) had its price objective raised by Royal Bank of Canada from $269.00 to $272.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a sector perform rating on the construction company’s stock.

Other equities analysts have also issued reports about the stock. Citigroup raised their price objective on shares of Vulcan Materials from $263.00 to $322.00 and gave the company a buy rating in a research note on Friday, April 5th. Jefferies Financial Group increased their target price on Vulcan Materials from $298.00 to $319.00 and gave the company a buy rating in a research note on Thursday, April 18th. Morgan Stanley started coverage on Vulcan Materials in a research report on Monday, January 8th. They set an equal weight rating and a $208.00 target price for the company. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $270.00 price target (up from $245.00) on shares of Vulcan Materials in a research note on Friday, March 22nd. Finally, Wolfe Research lowered shares of Vulcan Materials from an outperform rating to a peer perform rating in a research note on Friday, March 8th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Vulcan Materials presently has a consensus rating of Moderate Buy and a consensus price target of $277.08.

Vulcan Materials Price Performance

Shares of NYSE:VMC traded up $0.03 during midday trading on Friday, reaching $264.44. The company’s stock had a trading volume of 809,401 shares, compared to its average volume of 699,108. The business’s fifty day simple moving average is $265.38 and its 200-day simple moving average is $236.10. The company has a market capitalization of $34.98 billion, a P/E ratio of 38.60, a P/E/G ratio of 1.98 and a beta of 0.83. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 2.39. Vulcan Materials has a fifty-two week low of $187.20 and a fifty-two week high of $276.58.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Thursday, May 2nd. The construction company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.11). Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. Vulcan Materials’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, equities research analysts expect that Vulcan Materials will post 8.45 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were paid a $0.46 dividend. The ex-dividend date was Friday, March 1st. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a yield of 0.70%. Vulcan Materials’s dividend payout ratio is presently 26.86%.

Insiders Place Their Bets

In other news, SVP Denson N. Franklin III sold 3,200 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $269.48, for a total value of $862,336.00. Following the sale, the senior vice president now directly owns 5,395 shares in the company, valued at $1,453,844.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Vulcan Materials news, Director Melissa H. Anderson sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $260.48, for a total value of $312,576.00. Following the sale, the director now owns 330 shares in the company, valued at $85,958.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Denson N. Franklin III sold 3,200 shares of Vulcan Materials stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $269.48, for a total value of $862,336.00. Following the transaction, the senior vice president now owns 5,395 shares of the company’s stock, valued at $1,453,844.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,017 shares of company stock worth $3,344,741. Corporate insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Vulcan Materials

Several hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its position in Vulcan Materials by 2.9% during the first quarter. Larson Financial Group LLC now owns 9,569 shares of the construction company’s stock worth $2,612,000 after acquiring an additional 274 shares during the last quarter. Financial Counselors Inc. lifted its holdings in Vulcan Materials by 8.6% during the 1st quarter. Financial Counselors Inc. now owns 1,328 shares of the construction company’s stock worth $362,000 after purchasing an additional 105 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Vulcan Materials by 2.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 29,299 shares of the construction company’s stock valued at $7,996,000 after purchasing an additional 613 shares during the period. Graypoint LLC acquired a new position in Vulcan Materials in the 1st quarter valued at $245,000. Finally, Haverford Trust Co acquired a new position in Vulcan Materials in the 1st quarter valued at $183,000. Institutional investors and hedge funds 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.