Vulcan Materials (NYSE:VMC) Price Target Lowered to $292.00 at Citigroup

Vulcan Materials (NYSE:VMC) had its price objective reduced by Citigroup from $297.00 to $292.00 in a report issued on Thursday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

VMC has been the topic of a number of other reports. Royal Bank of Canada dropped their price objective on shares of Vulcan Materials from $267.00 to $257.00 and set a sector perform rating on the stock in a report on Wednesday. Loop Capital decreased their target price on shares of Vulcan Materials from $305.00 to $285.00 and set a buy rating for the company in a research report on Wednesday, July 3rd. Stephens decreased their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an overweight rating for the company in a research report on Thursday. Truist Financial decreased their target price on shares of Vulcan Materials from $320.00 to $300.00 and set a buy rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group boosted their target price on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a buy rating in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $274.73.

Vulcan Materials Stock Performance

Shares of VMC traded down $1.99 during trading hours on Thursday, reaching $244.34. 864,858 shares of the company traded hands, compared to its average volume of 798,821. The stock has a market capitalization of $32.31 billion, a P/E ratio of 35.96, a P/E/G ratio of 2.05 and a beta of 0.82. The company has a quick ratio of 1.81, a current ratio of 2.48 and a debt-to-equity ratio of 0.43. Vulcan Materials has a 12-month low of $190.51 and a 12-month high of $278.79. The business has a fifty day moving average price of $252.41 and a 200-day moving average price of $255.71.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. Vulcan Materials’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the firm earned $2.29 earnings per share. Equities analysts anticipate that Vulcan Materials will post 8.32 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.75%. Vulcan Materials’s payout ratio is currently 26.86%.

Insider Buying and Selling

In related news, SVP David P. Clement sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $254.50, for a total transaction of $254,500.00. Following the completion of the transaction, the senior vice president now owns 2,660 shares of the company’s stock, valued at approximately $676,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP David P. Clement sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $254.50, for a total transaction of $254,500.00. Following the completion of the transaction, the senior vice president now owns 2,660 shares of the company’s stock, valued at approximately $676,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Thompson S. Baker II sold 6,610 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $272.64, for a total transaction of $1,802,150.40. Following the sale, the president now owns 4,784 shares in the company, valued at $1,304,309.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,610 shares of company stock valued at $2,306,150. Company insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Vulcan Materials

Hedge funds have recently added to or reduced their stakes in the business. SouthState Corp lifted its holdings in Vulcan Materials by 669.2% during the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after buying an additional 87 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in Vulcan Materials during the 1st quarter worth approximately $27,000. Kings Path Partners LLC acquired a new stake in Vulcan Materials during the 2nd quarter worth approximately $27,000. UMB Bank n.a. lifted its holdings in Vulcan Materials by 61.8% during the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock worth $31,000 after buying an additional 47 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in Vulcan Materials during the 1st quarter worth approximately $33,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.