Citigroup Cuts Vulcan Materials (NYSE:VMC) Price Target to $292.00

Vulcan Materials (NYSE:VMC) had its target price trimmed by Citigroup from $297.00 to $292.00 in a report published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Other analysts have also recently issued reports about the stock. Jefferies Financial Group increased their target price on shares of Vulcan Materials from $298.00 to $319.00 and gave the stock a buy rating in a report on Thursday, April 18th. Truist Financial dropped their target price on shares of Vulcan Materials from $320.00 to $300.00 and set a buy rating on the stock in a report on Wednesday. Royal Bank of Canada dropped their target price on shares of Vulcan Materials from $267.00 to $257.00 and set a sector perform rating on the stock in a report on Wednesday. Loop Capital dropped their target price on shares of Vulcan Materials from $305.00 to $285.00 and set a buy rating on the stock in a report on Wednesday, July 3rd. Finally, Stephens dropped their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an overweight rating on the stock in a report on Thursday. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $274.73.

Vulcan Materials Stock Down 0.8 %

VMC traded down $1.99 during trading on Thursday, hitting $244.34. The company had a trading volume of 864,858 shares, compared to its average volume of 798,821. The company has a market cap of $32.31 billion, a PE ratio of 35.96, a P/E/G ratio of 2.05 and a beta of 0.82. The business has a 50-day moving average of $252.41 and a 200-day moving average of $255.71. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.48 and a quick ratio of 1.81. Vulcan Materials has a 1-year low of $190.51 and a 1-year high of $278.79.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.47 by ($0.12). The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.03 billion. Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.29 earnings per share. As a group, analysts forecast that Vulcan Materials will post 8.32 earnings per share for the current year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.84 annualized dividend and a yield of 0.75%. Vulcan Materials’s payout ratio is 26.86%.

Insider Buying and Selling at Vulcan Materials

In other Vulcan Materials news, President Thompson S. Baker II sold 6,610 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $272.64, for a total transaction of $1,802,150.40. Following the transaction, the president now owns 4,784 shares of the company’s stock, valued at approximately $1,304,309.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Vulcan Materials news, President Thompson S. Baker II sold 6,610 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $272.64, for a total transaction of $1,802,150.40. Following the transaction, the president now owns 4,784 shares of the company’s stock, valued at approximately $1,304,309.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP David P. Clement sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $249.50, for a total transaction of $249,500.00. Following the transaction, the senior vice president now directly owns 1,660 shares in the company, valued at approximately $414,170. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,610 shares of company stock valued at $2,306,150. Company insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Vulcan Materials

Hedge funds have recently made changes to their positions in the business. SouthState Corp grew its stake in shares of Vulcan Materials by 669.2% in the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after purchasing an additional 87 shares during the last quarter. Register Financial Advisors LLC acquired a new position in shares of Vulcan Materials in the 1st quarter worth approximately $27,000. Kings Path Partners LLC acquired a new position in shares of Vulcan Materials in the 2nd quarter worth approximately $27,000. UMB Bank n.a. grew its stake in shares of Vulcan Materials by 61.8% in the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock worth $31,000 after purchasing an additional 47 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Vulcan Materials in the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

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.