Vulcan Materials (NYSE:VMC) PT dropped to $292.00

Vulcan Materials (NYSE:VMC – Get Free Report) had its price objective lowered by stock analysts at Citigroup from $297.00 to $292.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Citigroup’s price objective indicates a potential upside of 19.51% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. Stephens cut their price target on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday. Truist Financial cut their price target on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday. Loop Capital cut their price target on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Jefferies Financial Group boosted their price target on Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Finally, Royal Bank of Canada cut their price objective on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a report on Wednesday. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Vulcan Materials has an average rating of “Moderate Buy” and an average price target of $274.73, according to MarketBeat.

Read our latest analysis of VMC

Vulcan material stock down 0.8%

Shares of VMC stock traded down $1.99 during trading on Thursday, reaching $244.34. The company’s stock had a trading volume of 887,968 shares, compared to its average volume of 798,821. The company has a market cap of $32.31 billion, a price-to-earnings ratio of 35.67, a P/E/G ratio of 2.05 and a beta of 0.82. The company has a quick ratio of 1.81, a current ratio of 2.48, and a debt-to-equity ratio of 0.43. The company has a fifty day moving average of $252.18 and a two hundred day moving average of $255.83. Vulcan Materials has a twelve month low of $190.51 and a twelve month high of $278.79.

Vulcan Materials (NYSE:VMC – Get Your Free Report ) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.03 billion. In the same quarter last year, the firm posted EPS of $2.29. The company’s quarterly revenue was down 4.7% year over year. On average, sell-side analysts forecast that Vulcan Materials will post 8.32 EPS for the current fiscal year.

Insider buying and selling at Vulcan Materials

In other Vulcan Materials news, Chairman Thompson S. Baker II sold 6,610 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $272.64, for a total value of $1,802,150.40. Following the sale, the chairman now owns 4,784 shares in the company, valued at $1,304,309.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In related news, SVP David P. Clement sold 1,000 shares of the company’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 completion of the transaction, the senior vice president now owns 1,660 shares of the company’s stock, valued at $414,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Thompson S. Baker II sold 6,610 shares of Vulcan Materials stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 4,784 shares in the company, valued at approximately $1,304,309.76. The disclosure for this sale can be found here. Insiders have sold 8,610 shares of company stock worth $2,306,150 over the last ninety days. Company insiders own 0.62% of the company’s shares.

Institutional investors intervene on Vulcan materials

A number of institutional investors and hedge funds have recently modified their holdings of VMC. Vanguard Group Inc. raised its holdings in shares of Vulcan Materials by 5.0% in the first quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock worth $4,368,273,000 after purchasing an additional 755,991 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Vulcan Materials by 1.9% in the first quarter. Principal Financial Group Inc. now owns 4,494,455 shares of the construction company’s stock valued at $1,226,627,000 after buying an additional 83,601 shares during the period. Capital World Investors purchased a new position in Vulcan Materials in the first quarter worth approximately $388,027,000. Dimensional Fund Advisors LP boosted its stake in shares of Vulcan Materials by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,332,649 shares of the construction company’s stock worth $331,404,000 after buying an additional 43,294 shares during the last quarter. Finally, Norges Bank acquired a new stake in Vulcan Materials in the fourth quarter valued at about $282,528,000. Institutional investors and hedge funds own 90.39% of the company’s shares.

Vulcan Materials Company Profile

(Get a free report)

Vulcan Materials Company, together with its subsidiaries, manufactures and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete and Lime. The company provides crushed stone, sand and gravel, sand and other aggregates; and related products and services that are applied 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 non-residential facilities.

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