Morgan Stanley Issues Positive Forecast for Vulcan Materials (NYSE:VMC) Stock Price

Vulcan Materials (NYSE:VMC) had its price objective hoisted by Morgan Stanley from $321.00 to $322.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the construction company’s stock.

Other analysts have also issued reports about the stock. Wells Fargo & Company lowered their price objective on shares of Vulcan Materials from $317.00 to $315.00 and set an “equal weight” rating for the company in a report on Wednesday, February 18th. Royal Bank Of Canada reduced their target price on Vulcan Materials from $316.00 to $296.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 18th. Wall Street Zen lowered Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $320.00 target price (down from $335.00) on shares of Vulcan Materials in a research note on Wednesday, March 4th. Finally, Truist Financial lifted their price target on Vulcan Materials from $320.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Vulcan Materials has a consensus rating of “Moderate Buy” and an average target price of $326.29.

Vulcan Materials Stock Down 0.3%

Shares of NYSE VMC opened at $274.22 on Monday. The company has a current ratio of 2.69, a quick ratio of 1.97 and a debt-to-equity ratio of 0.51. Vulcan Materials has a 12 month low of $215.08 and a 12 month high of $331.09. The firm has a market capitalization of $35.81 billion, a PE ratio of 33.77, a price-to-earnings-growth ratio of 2.02 and a beta of 1.05. The firm has a fifty day simple moving average of $304.00 and a two-hundred day simple moving average of $297.54.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Tuesday, February 17th. The construction company reported $1.70 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.41). Vulcan Materials had a return on equity of 12.56% and a net margin of 13.56%.The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the prior year, the business posted $2.17 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities analysts expect that Vulcan Materials will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 9th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 9th. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.49. This represents a $2.08 annualized dividend and a yield of 0.8%. Vulcan Materials’s payout ratio is presently 24.14%.

Insiders Place Their Bets

In other Vulcan Materials news, President Thompson S. Baker II sold 7,135 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $300.81, for a total transaction of $2,146,279.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Melissa H. Anderson sold 1,137 shares of Vulcan Materials stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $303.72, for a total transaction of $345,329.64. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 8,937 shares of company stock worth $2,687,784. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VMC. Westside Investment Management Inc. boosted its holdings in Vulcan Materials by 100.0% in the third quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock worth $25,000 after acquiring an additional 42 shares in the last quarter. NBT Bank N A NY purchased a new position in shares of Vulcan Materials in the 4th quarter worth about $26,000. Greykasell Wealth Strategies Inc. purchased a new position in shares of Vulcan Materials in the 3rd quarter worth about $29,000. Birchwood Financial Partners Inc. bought a new position in Vulcan Materials in the 4th quarter worth about $29,000. Finally, Godsey & Gibb Inc. bought a new position in Vulcan Materials in the 4th quarter worth about $30,000. Institutional investors own 90.39% of the company’s stock.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.