Vulcan Materials (NYSE:VMC) Reaches New 52-Week High – Here’s What Happened

by · The Markets Daily

Vulcan Materials (NYSE:VMC – Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $297.94 and last traded at $288.93, with a volume of 25044 shares. The stock had previously closed at $272.67.

Wall Street Analysts Forecast Growth

VMC has been the subject of a number of recent research reports. Citigroup reduced their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. UBS Group assumed coverage on Vulcan Materials in a report on Thursday. They set a “buy” rating and a $349.00 target price on the stock. Barclays upped their price target on Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada reduced their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.46.

Read Our Latest Report on Vulcan Materials

Vulcan Materials Stock Performance

The firm’s fifty day moving average is $251.73 and its 200-day moving average is $253.19. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $38.60 billion, a PE ratio of 46.11, a price-to-earnings-growth ratio of 2.79 and a beta of 0.81.

Vulcan Materials (NYSE:VMC – Get Free Report) last issued 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). Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the company posted $2.29 earnings per share. The business’s revenue was down 8.3% compared to the same quarter last year. As a group, research analysts anticipate that Vulcan Materials will post 7.2 earnings per share for the current year.

Vulcan Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be given a dividend of $0.46 per share. The ex-dividend date is Monday, November 4th. This represents a $1.84 annualized dividend and a dividend yield of 0.63%. Vulcan Materials’s dividend payout ratio is currently 29.02%.

Institutional Investors Weigh In On Vulcan Materials

Several institutional investors and hedge funds have recently modified their holdings of the company. Capital World Investors acquired a new position in Vulcan Materials in the 1st quarter valued at about $388,027,000. Principal Financial Group Inc. grew its holdings in shares of Vulcan Materials by 19.9% in the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock valued at $1,332,431,000 after purchasing an additional 884,580 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Vulcan Materials by 5.0% in the first quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock valued at $4,368,273,000 after purchasing an additional 755,991 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Vulcan Materials by 18.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock worth $533,551,000 after buying an additional 330,433 shares during the period. Finally, Ceredex Value Advisors LLC lifted its holdings in Vulcan Materials by 136.3% during the 3rd quarter. Ceredex Value Advisors LLC now owns 355,857 shares of the construction company’s stock worth $89,117,000 after buying an additional 205,260 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Company Profile

(Get Free Report)

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.

See Also