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Raymond James Maintains Vulcan Materials (VMC) Outperform Recommendation

Fintel reports that on August 4, 2023, Raymond James maintained coverage of Vulcan Materials (NYSE:VMC) with a Outperform recommendation.

Analyst Price Forecast Suggests 5.16% Upside

As of August 2, 2023, the average one-year price target for Vulcan Materials is 237.76. The forecasts range from a low of 186.85 to a high of $278.25. The average price target represents an increase of 5.16% from its latest reported closing price of 226.09.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Vulcan Materials is 7,996MM, an increase of 5.46%. The projected annual non-GAAP EPS is 6.77.

Vulcan Materials Declares $0.43 Dividend

On May 12, 2023 the company declared a regular quarterly dividend of $0.43 per share ($1.72 annualized). Shareholders of record as of May 26, 2023 received the payment on June 9, 2023. Previously, the company paid $0.43 per share.

At the current share price of $226.09 / share, the stock’s dividend yield is 0.76%.

Looking back five years and taking a sample every week, the average dividend yield has been 0.95%, the lowest has been 0.71%, and the highest has been 1.66%. The standard deviation of yields is 0.15 (n=236).

The current dividend yield is 1.30 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is 0.32. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.26%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1461 funds or institutions reporting positions in Vulcan Materials. This is an increase of 24 owner(s) or 1.67% in the last quarter. Average portfolio weight of all funds dedicated to VMC is 0.31%, a decrease of 3.47%. Total shares owned by institutions decreased in the last three months by 1.23% to 144,286K shares. The put/call ratio of VMC is 0.87, indicating a bullish outlook.

What are Other Shareholders Doing?

VMC / Vulcan Materials Co Shares Held by Institutions

State Farm Mutual Automobile Insurance holds 9,954K shares representing 7.48% ownership of the company. No change in the last quarter.

Massachusetts Financial Services holds 8,832K shares representing 6.64% ownership of the company. In it’s prior filing, the firm reported owning 8,782K shares, representing an increase of 0.57%. The firm decreased its portfolio allocation in VMC by 85.19% over the last quarter.

Principal Financial Group holds 4,473K shares representing 3.36% ownership of the company. In it’s prior filing, the firm reported owning 4,557K shares, representing a decrease of 1.86%. The firm decreased its portfolio allocation in VMC by 48.20% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,114K shares representing 3.09% ownership of the company. In it’s prior filing, the firm reported owning 3,836K shares, representing an increase of 6.75%. The firm decreased its portfolio allocation in VMC by 2.99% over the last quarter.

Jpmorgan Chase holds 3,966K shares representing 2.98% ownership of the company. In it’s prior filing, the firm reported owning 4,097K shares, representing a decrease of 3.30%. The firm decreased its portfolio allocation in VMC by 89.00% over the last quarter.

Vulcan Materials Background Information
(This description is provided by the company.)

Vulcan Materials Company, a member of the S&P 500 index with headquarters in Birmingham, Alabama, is the nation’s largest producer of construction aggregates – primarily crushed stone, sand and gravel – and a major producer of aggregates-based construction materials, including asphalt and ready-mixed concrete.

Additional reading:

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Summarize this content to 100 words

Fintel reports that on August 4, 2023, Raymond James maintained coverage of Vulcan Materials (NYSE:VMC) with a Outperform recommendation. Analyst Price Forecast Suggests 5.16% Upside As of August 2, 2023, the average one-year price target for Vulcan Materials is 237.76. The forecasts range from a low of 186.85 to a high of $278.25. The average price target represents an increase of 5.16% from its latest reported closing price of 226.09.

See our leaderboard of companies with the largest price target upside. The projected annual revenue for Vulcan Materials is 7,996MM, an increase of 5.46%. The projected annual non-GAAP EPS is 6.77. Vulcan Materials Declares $0.43 Dividend On May 12, 2023 the company declared a regular quarterly dividend of $0.43 per share ($1.72 annualized). Shareholders of record as of May 26, 2023 received the payment on June 9, 2023. Previously, the company paid $0.43 per share. At the current share price of $226.09 / share, the stock’s dividend yield is 0.76%. Looking back five years and taking a sample every week, the average dividend yield has been 0.95%, the lowest has been 0.71%, and the highest has been 1.66%. The standard deviation of yields is 0.15 (n=236).

The current dividend yield is 1.30 standard deviations below the historical average. Additionally, the company’s dividend payout ratio is 0.32. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5. The company’s 3-Year dividend growth rate is 0.26%, demonstrating that it has increased its dividend over time. What is the Fund Sentiment? There are 1461 funds or institutions reporting positions in Vulcan Materials. This is an increase of 24 owner(s) or 1.67% in the last quarter. Average portfolio weight of all funds dedicated to VMC is 0.31%, a decrease of 3.47%. Total shares owned by institutions decreased in the last three months by 1.23% to 144,286K shares. The put/call ratio of VMC is 0.87, indicating a bullish outlook. What are Other Shareholders Doing? State Farm Mutual Automobile Insurance holds 9,954K shares representing 7.48% ownership of the company. No change in the last quarter.

Massachusetts Financial Services holds 8,832K shares representing 6.64% ownership of the company. In it’s prior filing, the firm reported owning 8,782K shares, representing an increase of 0.57%. The firm decreased its portfolio allocation in VMC by 85.19% over the last quarter. Principal Financial Group holds 4,473K shares representing 3.36% ownership of the company. In it’s prior filing, the firm reported owning 4,557K shares, representing a decrease of 1.86%. The firm decreased its portfolio allocation in VMC by 48.20% over the last quarter. VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,114K shares representing 3.09% ownership of the company. In it’s prior filing, the firm reported owning 3,836K shares, representing an increase of 6.75%. The firm decreased its portfolio allocation in VMC by 2.99% over the last quarter. Jpmorgan Chase holds 3,966K shares representing 2.98% ownership of the company. In it’s prior filing, the firm reported owning 4,097K shares, representing a decrease of 3.30%. The firm decreased its portfolio allocation in VMC by 89.00% over the last quarter. Vulcan Materials Background Information(This description is provided by the company.)

Vulcan Materials Company, a member of the S&P 500 index with headquarters in Birmingham, Alabama, is the nation’s largest producer of construction aggregates – primarily crushed stone, sand and gravel – and a major producer of aggregates-based construction materials, including asphalt and ready-mixed concrete.
Additional reading: This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

https://www.nasdaq.com/articles/raymond-james-maintains-vulcan-materials-vmc-outperform-recommendation-0 Raymond James Maintains Vulcan Materials (VMC) Outperform Recommendation

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