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

Vulcan Materials (NYSE:VMC) had its price target reduced by Citigroup from $325.00 to $301.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other research analysts have also weighed in on the company. JPMorgan Chase & Co. upped their price target on Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Truist Financial increased their price objective on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays boosted their target price on Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Stephens reaffirmed an “overweight” rating and set a $325.00 price target on shares of Vulcan Materials in a research note on Thursday, January 2nd. Finally, UBS Group started coverage on Vulcan Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target for the company. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $296.18.

Vulcan Materials Trading Up 1.3 %

Vulcan Materials stock opened at $255.14 on Monday. The firm has a market cap of $33.69 billion, a price-to-earnings ratio of 40.24, a price-to-earnings-growth ratio of 2.67 and a beta of 0.83. Vulcan Materials has a 1 year low of $219.73 and a 1 year high of $298.31. The firm’s 50 day moving average price is $275.21 and its two-hundred day moving average price is $258.11. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86.

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). Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. The business’s revenue was down 8.3% compared to the same quarter last year. On average, research analysts predict that Vulcan Materials will post 7.16 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

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

Hedge Funds Weigh In On Vulcan Materials

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in Vulcan Materials in the 3rd quarter worth $30,000. Concord Wealth Partners bought a new stake in shares of Vulcan Materials in the third quarter valued at about $35,000. Washington Trust Advisors Inc. grew its position in Vulcan Materials by 240.4% during the third quarter. Washington Trust Advisors Inc. now owns 160 shares of the construction company’s stock worth $40,000 after buying an additional 113 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Vulcan Materials during the third quarter valued at about $42,000. Finally, Asset Dedication LLC raised its holdings in Vulcan Materials by 146.5% in the 3rd quarter. Asset Dedication LLC now owns 175 shares of the construction company’s stock valued at $44,000 after acquiring an additional 104 shares in the last quarter. 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.