Royal Bank of Canada Increases Vulcan Materials (NYSE:VMC) Price Target to $272.00

Vulcan Materials (NYSE:VMC) had its price target lifted by Royal Bank of Canada from $269.00 to $272.00 in a report published on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the construction company’s stock.

Several other equities analysts have also issued reports on the company. Truist Financial lifted their price target on Vulcan Materials from $300.00 to $320.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group boosted their target price on shares of Vulcan Materials from $264.00 to $292.00 and gave the stock a buy rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. reaffirmed a neutral rating and set a $270.00 price target (up previously from $245.00) on shares of Vulcan Materials in a research note on Friday, March 22nd. Morgan Stanley assumed coverage on shares of Vulcan Materials in a research note on Monday, January 8th. They issued an equal weight rating and a $208.00 price objective on the stock. Finally, Jefferies Financial Group increased their target price on shares of Vulcan Materials from $298.00 to $319.00 and gave the stock a buy rating in a research note on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Vulcan Materials has a consensus rating of Moderate Buy and a consensus target price of $277.08.

Vulcan Materials Trading Up 0.8 %

Shares of Vulcan Materials stock opened at $266.61 on Friday. The company has a quick ratio of 1.81, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. Vulcan Materials has a 12-month low of $190.51 and a 12-month high of $276.58. The company has a market capitalization of $35.26 billion, a price-to-earnings ratio of 38.92, a PEG ratio of 1.97 and a beta of 0.83. The firm’s 50-day moving average price is $265.64 and its two-hundred day moving average price is $237.29.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.11). The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.50 billion. Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The business’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 EPS. On average, analysts forecast that Vulcan Materials will post 8.5 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, March 1st. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 0.69%. Vulcan Materials’s dividend payout ratio (DPR) is 26.86%.

Insider Transactions at Vulcan Materials

In related news, SVP Denson N. Franklin III sold 3,200 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total transaction of $862,336.00. Following the transaction, the senior vice president now directly owns 5,395 shares of the company’s stock, valued at $1,453,844.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vulcan Materials news, Director Melissa H. Anderson sold 1,200 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $260.48, for a total transaction of $312,576.00. Following the completion of the transaction, the director now directly owns 330 shares of the company’s stock, valued at $85,958.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Denson N. Franklin III sold 3,200 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total value of $862,336.00. Following the completion of the sale, the senior vice president now owns 5,395 shares in the company, valued at $1,453,844.60. The disclosure for this sale can be found here. Insiders sold a total of 13,017 shares of company stock worth $3,344,741 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vulcan Materials

Several institutional investors have recently added to or reduced their stakes in the business. Register Financial Advisors LLC bought a new position in Vulcan Materials in the 1st quarter worth approximately $27,000. Opal Wealth Advisors LLC purchased a new position in shares of Vulcan Materials during the 1st quarter valued at $33,000. Exchange Traded Concepts LLC bought a new stake in shares of Vulcan Materials during the 4th quarter valued at about $28,000. YHB Investment Advisors Inc. bought a new stake in Vulcan Materials during the first quarter valued at approximately $34,000. Finally, Concord Wealth Partners purchased a new position in Vulcan Materials in the first quarter worth $34,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

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.