Vulcan Materials (NYSE:VMC) Sets New 52-Week High - What's Next?

Key Points

• Vulcan Materials Company recently reached a new 52-week high of $298.86, indicating strong trading activity, with a volume of over 213,000 shares as of the latest session.
• Despite positive price movements, several brokerages have mixed ratings, with Morgan Stanley lowering its target price while UBS and Citigroup have increased theirs, reflecting varying investor sentiment.
• The company reported Q2 earnings of $2.45 EPS, which fell short of analyst expectations, alongside a revenue of $2.10 billion compared to estimated figures of $2.23 billion.

Vulcan Materials Company (NYSE:VMC - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $298.86 and last traded at $298.03, with a volume of 213375 shares traded. The stock had previously closed at $294.81.

Analyst Ratings Changes

A number of brokerages have recently issued reports on VMC. Morgan Stanley dropped their target price on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a research report on Monday, July 28th. UBS Group upgraded Vulcan Materials from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $280.00 to $318.00 in a research report on Friday, May 16th. Citigroup restated a "buy" rating and issued a $321.00 target price (up from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. JPMorgan Chase & Co. upped their target price on Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Finally, Royal Bank Of Canada cut their target price on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a research report on Friday, August 1st. Two equities research 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $308.36.

Vulcan Materials Stock Performance

The firm's 50 day simple moving average is $278.81 and its 200-day simple moving average is $260.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67. The company has a market capitalization of $39.51 billion, a price-to-earnings ratio of 41.76, a P/E/G ratio of 2.41 and a beta of 0.86.

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

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th were issued a $0.49 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. Vulcan Materials's dividend payout ratio is currently 27.37%.

Institutional Investors Weigh In On Vulcan Materials

A number of hedge funds have recently bought and sold shares of the company. Unified Investment Management raised its position in Vulcan Materials by 1.7% in the second quarter. Unified Investment Management now owns 2,259 shares of the construction company's stock worth $589,000 after purchasing an additional 38 shares in the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of Vulcan Materials by 6.2% during the second quarter. Rosenberg Matthew Hamilton now owns 648 shares of the construction company's stock worth $169,000 after buying an additional 38 shares in the last quarter. Manchester Capital Management LLC raised its stake in shares of Vulcan Materials by 26.9% in the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock valued at $43,000 after acquiring an additional 39 shares during the last quarter. Chemistry Wealth Management LLC raised its stake in shares of Vulcan Materials by 3.0% in the second quarter. Chemistry Wealth Management LLC now owns 1,343 shares of the construction company's stock valued at $350,000 after acquiring an additional 39 shares during the last quarter. Finally, Bollard Group LLC raised its stake in shares of Vulcan Materials by 5.3% in the second quarter. Bollard Group LLC now owns 819 shares of the construction company's stock valued at $214,000 after acquiring an additional 41 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors.

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.

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