Vulcan Materials (NYSE:VMC) Sets New 52-Week High – Time to Buy?

Vulcan Materials (NYSE:VMC)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $297.94 and last traded at $288.93, with a volume of 25044 shares trading hands. The stock had previously closed at $272.67.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VMC. Stephens cut their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Citigroup reduced their price objective on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada lowered their target price on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price objective on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Barclays boosted their target price on shares of Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and an average price target of $274.75.

Vulcan Materials Stock Up 6.5 %

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 cap of $38.36 billion, a price-to-earnings ratio of 45.95, a P/E/G ratio of 2.58 and a beta of 0.81. The stock’s 50-day moving average price is $248.71 and its 200-day moving average price is $252.40.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.12). The business had revenue of $2 billion for 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 firm’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.29 EPS. On average, sell-side analysts expect that Vulcan Materials will post 7.2 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s payout ratio is 29.02%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VMC. Vanguard Group Inc. boosted its position in shares of Vulcan Materials by 5.0% during 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 buying an additional 755,991 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Vulcan Materials by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock worth $1,332,431,000 after acquiring an additional 884,580 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Vulcan Materials by 18.4% in 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 acquiring an additional 330,433 shares in the last quarter. Capital World Investors purchased a new stake in shares of Vulcan Materials in the first quarter valued at about $388,027,000. Finally, Vontobel Holding Ltd. lifted its position in shares of Vulcan Materials by 7.1% during the third quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company’s stock valued at $342,971,000 after purchasing an additional 91,318 shares in the last quarter. 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.