Vulcan Materials (NYSE:VMC) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Vulcan Materials (NYSE:VMC) from a neutral rating to an overweight rating in a research note published on Wednesday, Marketbeat Ratings reports. They currently have $285.00 price target on the construction company’s stock, down from their prior price target of $290.00.

A number of other brokerages have also weighed in on VMC. Stephens restated an “overweight” rating and issued a $325.00 price objective on shares of Vulcan Materials in a report on Thursday, January 2nd. Stifel Nicolaus assumed coverage on shares of Vulcan Materials in a research report on Tuesday, March 4th. They set a “buy” rating and a $287.00 price target for the company. Royal Bank of Canada lifted their price objective on Vulcan Materials from $269.00 to $286.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 19th. Morgan Stanley increased their target price on Vulcan Materials from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Finally, Citigroup decreased their price target on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.67.

Vulcan Materials Trading Down 1.7 %

NYSE VMC opened at $234.55 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.60. The stock’s 50-day simple moving average is $256.58 and its two-hundred day simple moving average is $260.27. Vulcan Materials has a twelve month low of $215.08 and a twelve month high of $298.31. The company has a market capitalization of $30.99 billion, a price-to-earnings ratio of 34.24, a PEG ratio of 2.03 and a beta of 0.80.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.41. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations 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 last year, the firm posted $1.46 EPS. Research analysts forecast that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a $0.49 dividend. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.96 dividend on an annualized basis and a yield of 0.84%. Vulcan Materials’s dividend payout ratio (DPR) is presently 28.61%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Vulcan Materials during the 4th quarter valued at about $380,369,000. Principal Financial Group Inc. lifted its holdings in Vulcan Materials by 19.9% in the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock worth $1,332,431,000 after buying an additional 884,580 shares during the period. Proficio Capital Partners LLC boosted its position in Vulcan Materials by 28,529.4% during the 4th quarter. Proficio Capital Partners LLC now owns 523,631 shares of the construction company’s stock valued at $134,694,000 after acquiring an additional 521,802 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Vulcan Materials by 239.8% during the 4th quarter. BNP Paribas Financial Markets now owns 739,003 shares of the construction company’s stock worth $190,094,000 after acquiring an additional 521,508 shares during the period. Finally, Alkeon Capital Management LLC raised its position in shares of Vulcan Materials by 54.1% in the 4th quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company’s stock worth $329,769,000 after acquiring an additional 450,000 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

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.