Vulcan Materials (VMC) Receives Average Recommendation of “Buy” from Brokerages
Shares of Vulcan Materials (NYSE:VMC) have earned an average recommendation of “Buy” from the sixteen research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $124.15.
Several equities analysts have commented on the company. Zacks Investment Research raised Vulcan Materials from a “hold” rating to a “buy” rating and set a $144.00 price objective on the stock in a research report on Thursday, May 9th. Barclays restated a “buy” rating and issued a $137.00 price objective on shares of Vulcan Materials in a report on Sunday, May 5th. JPMorgan Chase & Co. initiated coverage on shares of Vulcan Materials in a report on Thursday, March 21st. They set an “overweight” rating and a $135.00 price objective on the stock. Jefferies Financial Group raised their target price on shares of Vulcan Materials to $133.00 and gave the company a “buy” rating in a research report on Friday, February 15th. Finally, Deutsche Bank raised their target price on shares of Vulcan Materials to $125.00 and gave the company a “buy” rating in a research report on Friday, February 15th.
Shares of NYSE:VMC traded up $0.41 during mid-day trading on Thursday, reaching $130.24. 2,336 shares of the company traded hands, compared to its average volume of 1,188,975. Vulcan Materials has a 52 week low of $82.52 and a 52 week high of $133.59. The company has a current ratio of 1.64, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61. The company has a market cap of $16.87 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 1.51 and a beta of 0.94.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Thursday, May 23rd. Vulcan Materials’s payout ratio is 30.62%.
In other Vulcan Materials news, insider David P. Clement sold 2,789 shares of Vulcan Materials stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $114.28, for a total transaction of $318,726.92. Following the transaction, the insider now directly owns 4,340 shares of the company’s stock, valued at $495,975.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.79% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in VMC. BlackRock Inc. boosted its holdings in Vulcan Materials by 21.8% in the first quarter. BlackRock Inc. now owns 10,405,781 shares of the construction company’s stock valued at $1,232,045,000 after acquiring an additional 1,864,819 shares in the last quarter. Egerton Capital UK LLP raised its holdings in shares of Vulcan Materials by 45.3% during the first quarter. Egerton Capital UK LLP now owns 4,236,189 shares of the construction company’s stock valued at $501,565,000 after buying an additional 1,320,882 shares during the last quarter. Norges Bank bought a new stake in Vulcan Materials during the fourth quarter worth approximately $91,820,000. FMR LLC raised its holdings in Vulcan Materials by 800.7% during the fourth quarter. FMR LLC now owns 975,983 shares of the construction company’s stock worth $96,428,000 after purchasing an additional 867,625 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in Vulcan Materials by 19.5% during the first quarter. Lazard Asset Management LLC now owns 4,387,024 shares of the construction company’s stock worth $519,423,000 after purchasing an additional 714,979 shares in the last quarter. Institutional investors and hedge funds own 96.68% of the company’s stock.
Vulcan Materials Company Profile
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the 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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