Vulcan Materials (NYSE:VMC) Hits New 1-Year High - Here's Why

Key Points

• Vulcan Materials (NYSE:VMC) reached a new 52-week high at $302.43, closing at $302.27 with a trading volume of 251,237 shares.
• Analysts have mixed views on the stock, with target price upgrades from Citigroup ($321.00) and JPMorgan Chase ($330.00), while Morgan Stanley lowered theirs to $285.00.
• The company declared a quarterly dividend of $0.49 per share, representing an annualized total of $1.96 and a dividend yield of 0.6%.

Shares of Vulcan Materials Company (NYSE:VMC - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $302.43 and last traded at $302.27, with a volume of 251237 shares. The stock had previously closed at $299.29.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Citigroup reissued a "buy" rating and set a $321.00 target price (up from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Morgan Stanley decreased their target price on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a report on Monday, July 28th. Barclays boosted their target price on Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Royal Bank Of Canada decreased their target price on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. increased their price objective on Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $308.36.

Vulcan Materials Stock Up 1.2%

The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The stock has a market cap of $40.03 billion, a P/E ratio of 42.32, a PEG ratio of 2.44 and a beta of 0.86. The firm has a 50-day simple moving average of $287.89 and a two-hundred day simple moving average of $266.71.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.45 EPS for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The firm's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.35 EPS. Equities research analysts expect that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 14th. Vulcan Materials's dividend payout ratio (DPR) is presently 27.37%.

Insider Activity at Vulcan Materials

In other news, SVP David P. Clement sold 698 shares of Vulcan Materials stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $298.56, for a total transaction of $208,394.88. Following the sale, the senior vice president directly owned 2,832 shares of the company's stock, valued at approximately $845,521.92. This trade represents a 19.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.61% of the company's stock.

Hedge Funds Weigh In On Vulcan Materials

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Vulcan Materials by 1.2% in the second quarter. Vanguard Group Inc. now owns 16,895,644 shares of the construction company's stock worth $4,406,722,000 after purchasing an additional 195,982 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Vulcan Materials by 12.3% during the second quarter. JPMorgan Chase & Co. now owns 7,824,987 shares of the construction company's stock valued at $2,040,914,000 after acquiring an additional 857,210 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Vulcan Materials by 7.4% during the first quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company's stock valued at $1,518,291,000 after acquiring an additional 445,691 shares in the last quarter. State Street Corp increased its holdings in shares of Vulcan Materials by 1.7% during the second quarter. State Street Corp now owns 5,558,791 shares of the construction company's stock valued at $1,449,844,000 after acquiring an additional 95,256 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Vulcan Materials by 0.8% during the second quarter. Geode Capital Management LLC now owns 3,491,618 shares of the construction company's stock valued at $906,961,000 after acquiring an additional 27,531 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

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.

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