Vulcan Materials (NYSE:VMC) Given New $296.00 Price Target at Barclays

Vulcan Materials (NYSE:VMC) had its price objective trimmed by Barclays from $320.00 to $296.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

VMC has been the topic of several other reports. B. Riley Financial initiated coverage on shares of Vulcan Materials in a research report on Thursday, January 15th. They set a “buy” rating and a $345.00 price objective on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Vulcan Materials in a research note on Tuesday, January 27th. Royal Bank Of Canada lowered their price objective on Vulcan Materials from $316.00 to $296.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 18th. DA Davidson dropped their price objective on Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Finally, Wells Fargo & Company decreased their target price on Vulcan Materials from $317.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $324.92.

Vulcan Materials Stock Up 2.2%

VMC stock opened at $272.73 on Tuesday. The business’s 50-day moving average price is $293.17 and its 200-day moving average price is $294.38. The stock has a market cap of $35.58 billion, a P/E ratio of 33.59, a PEG ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.97, a current ratio of 2.69 and a debt-to-equity ratio of 0.51. Vulcan Materials has a twelve month low of $218.87 and a twelve month high of $331.09.

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

Vulcan Materials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, March 9th. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.49. Vulcan Materials’s dividend payout ratio is presently 25.62%.

Insider Activity at Vulcan Materials

In other news, Director Melissa H. Anderson sold 1,137 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $303.72, for a total transaction of $345,329.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vulcan Materials

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VMC. Principal Financial Group Inc. lifted its position in Vulcan Materials by 5.8% during the third quarter. Principal Financial Group Inc. now owns 7,625,271 shares of the construction company’s stock valued at $2,345,703,000 after purchasing an additional 414,828 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Vulcan Materials by 104.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 72,113 shares of the construction company’s stock worth $22,183,000 after buying an additional 36,823 shares during the last quarter. EFG Asset Management North America Corp. purchased a new stake in shares of Vulcan Materials during the 3rd quarter valued at about $1,232,000. Dimensional Fund Advisors LP raised its position in shares of Vulcan Materials by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,293,316 shares of the construction company’s stock valued at $397,795,000 after buying an additional 3,931 shares in the last quarter. Finally, Cibc World Market Inc. bought a new position in shares of Vulcan Materials in the 3rd quarter valued at about $12,834,000. 90.39% of the stock is owned by institutional investors.

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.