Vulcan Materials (NYSE:VMC) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Vulcan Materials (NYSE:VMC) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $258.01 and traded as high as $260.28. Vulcan Materials shares last traded at $257.23, with a volume of 389,209 shares trading hands.

Wall Street Analysts Forecast Growth

VMC has been the topic of several research reports. StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Stephens restated an “overweight” rating and issued a $325.00 price objective on shares of Vulcan Materials in a report on Thursday. JPMorgan Chase & Co. increased their target price on shares of Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Barclays boosted their price target on shares of Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Finally, Truist Financial increased their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Vulcan Materials currently has an average rating of “Moderate Buy” and a consensus target price of $288.08.

Vulcan Materials Stock Performance

The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $33.96 billion, a PE ratio of 40.56, a PEG ratio of 2.67 and a beta of 0.81. The business has a 50 day simple moving average of $275.80 and a 200 day simple moving average of $257.99.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.12). The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.29 earnings per share. Equities research analysts predict that Vulcan Materials will post 7.16 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Monday, November 4th. Vulcan Materials’s dividend payout ratio (DPR) is presently 29.02%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in Vulcan Materials by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 1,341 shares of the construction company’s stock valued at $345,000 after buying an additional 250 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Vulcan Materials by 6.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,353 shares of the construction company’s stock valued at $330,000 after acquiring an additional 86 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Vulcan Materials by 284.9% in the 3rd quarter. Franklin Resources Inc. now owns 44,650 shares of the construction company’s stock valued at $11,104,000 after acquiring an additional 33,051 shares during the last quarter. Synovus Financial Corp increased its stake in shares of Vulcan Materials by 20.1% in the third quarter. Synovus Financial Corp now owns 21,619 shares of the construction company’s stock worth $5,415,000 after acquiring an additional 3,615 shares during the period. Finally, Tidal Investments LLC lifted its position in Vulcan Materials by 185.0% during the third quarter. Tidal Investments LLC now owns 21,661 shares of the construction company’s stock valued at $5,425,000 after purchasing an additional 14,061 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

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.