Vulcan Materials (NYSE:VMC) Reaches New 1-Year High – Still a Buy?

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on VMC shares. Stephens cut 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, August 8th. Truist Financial increased their target price on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada decreased their target price on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Finally, Citigroup dropped their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Vulcan Materials presently has a consensus rating of “Moderate Buy” and an average price target of $274.75.

Vulcan Materials Price Performance

The firm has a market capitalization of $38.36 billion, a P/E ratio of 45.95, a P/E/G ratio of 2.58 and a beta of 0.81. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. The stock has a 50 day moving average of $248.71 and a two-hundred day moving average of $252.40.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the company earned $2.29 earnings per share. The firm’s revenue was down 8.3% on a year-over-year basis. Sell-side analysts predict that Vulcan Materials will post 7.2 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

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 given a $0.46 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.84 annualized dividend and a yield of 0.63%. Vulcan Materials’s dividend payout ratio is 29.02%.

Institutional Investors Weigh In On Vulcan Materials

Institutional investors have recently added to or reduced their stakes in the company. SouthState Corp increased its position in shares of Vulcan Materials by 669.2% during the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after purchasing an additional 87 shares during the period. Kings Path Partners LLC acquired a new position in Vulcan Materials in the second quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Vulcan Materials during the third quarter worth approximately $30,000. UMB Bank n.a. boosted its holdings 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 acquiring an additional 47 shares in the last quarter. Finally, Concord Wealth Partners bought a new stake in Vulcan Materials during the 3rd quarter worth approximately $35,000. 90.39% of the stock is owned by institutional investors and hedge funds.

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.