Vulcan Materials (NYSE:VMC) Price Target Cut to $301.00 by Analysts at Citigroup

Vulcan Materials (NYSE:VMC) had its price target lowered by Citigroup from $325.00 to $301.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

A number of other brokerages have also recently issued reports on VMC. Stephens reissued an “overweight” rating and set a $325.00 price objective on shares of Vulcan Materials in a report on Thursday, January 2nd. UBS Group began coverage on shares of Vulcan Materials in a report on Thursday, November 7th. They set a “buy” rating and a $349.00 price target for the company. Truist Financial upped their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Finally, StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Vulcan Materials currently has an average rating of “Moderate Buy” and a consensus target price of $296.18.

Vulcan Materials Stock Performance

NYSE VMC opened at $255.14 on Monday. Vulcan Materials has a twelve month low of $219.73 and a twelve month high of $298.31. 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 stock has a market cap of $33.69 billion, a P/E ratio of 40.24, a PEG ratio of 2.67 and a beta of 0.83. The company’s 50-day simple moving average is $275.21 and its 200 day simple moving average is $258.11.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 earnings per share 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 the consensus estimate of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.29 earnings per share. As a group, research analysts forecast that Vulcan Materials will post 7.16 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th were issued a dividend of $0.46 per share. The ex-dividend date was Monday, November 4th. This represents a $1.84 annualized dividend and a yield of 0.72%. Vulcan Materials’s dividend payout ratio is currently 29.02%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. United Asset Strategies Inc. lifted its holdings in Vulcan Materials by 1.1% in the third quarter. United Asset Strategies Inc. now owns 3,747 shares of the construction company’s stock valued at $938,000 after buying an additional 39 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Vulcan Materials by 2.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,987 shares of the construction company’s stock valued at $498,000 after purchasing an additional 44 shares during the period. Marcum Wealth LLC boosted its position in shares of Vulcan Materials by 5.7% in the 3rd quarter. Marcum Wealth LLC now owns 854 shares of the construction company’s stock worth $214,000 after purchasing an additional 46 shares during the last quarter. Golden State Equity Partners increased its holdings in Vulcan Materials by 4.5% in the third quarter. Golden State Equity Partners now owns 1,099 shares of the construction company’s stock valued at $275,000 after purchasing an additional 47 shares during the last quarter. Finally, Valley Brook Capital Group Inc. lifted its stake in Vulcan Materials by 5.1% in the third quarter. Valley Brook Capital Group Inc. now owns 1,025 shares of the construction company’s stock valued at $257,000 after buying an additional 50 shares during the period. Institutional investors own 90.39% of the company’s stock.

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.