Vulcan Materials (NYSE:VMC) Given New $286.00 Price Target at Royal Bank of Canada

Vulcan Materials (NYSE:VMC) had its price target raised by Royal Bank of Canada from $269.00 to $286.00 in a report released on Wednesday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the construction company’s stock.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price objective on Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Stephens reiterated an “overweight” rating and set a $325.00 price objective on shares of Vulcan Materials in a research report on Thursday, January 2nd. Raymond James reduced their price objective on Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a research report on Thursday, January 16th. Finally, UBS Group started coverage on Vulcan Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $305.00.

Vulcan Materials Stock Down 2.3 %

Shares of VMC opened at $252.68 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 2.02 and a debt-to-equity ratio of 0.60. Vulcan Materials has a 12 month low of $225.36 and a 12 month high of $298.31. The stock’s 50 day moving average is $266.66 and its two-hundred day moving average is $261.44. The firm has a market cap of $33.37 billion, a P/E ratio of 36.89, a PEG ratio of 2.05 and a beta of 0.84.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.41. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.81 billion. Vulcan Materials had a return on equity of 12.83% and a net margin of 12.30%. During the same period in the previous year, the company posted $1.46 earnings per share. Analysts predict that Vulcan Materials will post 8.8 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 0.78%. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, March 10th. Vulcan Materials’s payout ratio is presently 28.61%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in shares of Vulcan Materials in the 3rd quarter valued at about $811,000. DAVENPORT & Co LLC raised its stake in Vulcan Materials by 149.4% during the 4th quarter. DAVENPORT & Co LLC now owns 9,393 shares of the construction company’s stock valued at $2,416,000 after acquiring an additional 5,627 shares during the last quarter. Smith Group Asset Management LLC purchased a new stake in Vulcan Materials during the 4th quarter valued at approximately $514,000. Campbell Newman Asset Management Inc. purchased a new stake in Vulcan Materials during the 4th quarter valued at approximately $15,719,000. Finally, Franklin Resources Inc. raised its stake in Vulcan Materials by 284.9% during 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. 90.39% of the stock is owned by institutional investors and hedge funds.

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.