Stifel Nicolaus Has Lowered Expectations for Vulcan Materials (NYSE:VMC) Stock Price

Vulcan Materials (NYSE:VMC) had its target price dropped by Stifel Nicolaus from $333.00 to $320.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus‘s price target would indicate a potential upside of 21.22% from the company’s current price.

Several other brokerages have also recently issued reports on VMC. JPMorgan Chase & Co. dropped their price objective on shares of Vulcan Materials from $320.00 to $300.00 and set a “neutral” rating for the company in a research note on Tuesday, October 13th. Raymond James Financial decreased their target price on shares of Vulcan Materials from $320.00 to $308.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. DA Davidson reissued a “buy” rating and issued a $330.00 target price on shares of Vulcan Materials in a research note on Monday, September 21st. Truist Financial dropped their price target on Vulcan Materials from $360.00 to $320.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Finally, Wall Street Zen lowered Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. Nine research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Vulcan Materials presently has a consensus rating of “Hold” and an average price target of $309.86.

Vulcan Materials Price Performance

Shares of Vulcan Materials stock traded up $1.49 during trading hours on Wednesday, reaching $263.99. 370,563 shares of the company’s stock were exchanged, compared to its average volume of 1,164,922. Vulcan Materials has a 1 year low of $237.03 and a 1 year high of $331.09. The company has a market capitalization of $34.21 billion, a P/E ratio of 31.16, a price-to-earnings-growth ratio of 2.68 and a beta of 1.05. The business has a fifty day moving average of $255.62 and a two-hundred day moving average of $280.87. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, July 29th. The construction company reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.42 earnings per share. As a group, research analysts predict that Vulcan Materials will post 8.96 earnings per share for the current fiscal year.

Insider Activity

In related news, Director J. Hill sold 14,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $276.17, for a total transaction of $3,866,380.00. Following the completion of the sale, the director directly owned 58,209 shares in the company, valued at approximately $16,075,579.53. This trade represents a 19.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David P. Clement sold 2,000 shares of Vulcan Materials stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $285.10, for a total transaction of $570,200.00. Following the transaction, the senior vice president directly owned 6,716 shares in the company, valued at $1,914,731.60. This trade represents a 22.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.65% of the company’s stock.

Institutional Trading of Vulcan Materials

Hedge funds have recently made changes to their positions in the company. 4WEALTH Advisors Inc. increased its holdings in shares of Vulcan Materials by 3.2% during the 1st quarter. 4WEALTH Advisors Inc. now owns 1,261 shares of the construction company’s stock worth $337,000 after buying an additional 39 shares during the last quarter. North Dakota State Investment Board lifted its holdings in Vulcan Materials by 1.0% in the third quarter. North Dakota State Investment Board now owns 3,970 shares of the construction company’s stock valued at $971,000 after acquiring an additional 39 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Vulcan Materials by 21.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 239 shares of the construction company’s stock valued at $67,000 after acquiring an additional 42 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Vulcan Materials by 71.7% in the first quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock valued at $28,000 after acquiring an additional 43 shares during the last quarter. Finally, Harbor Investment Advisory LLC grew its position in Vulcan Materials by 1.6% in the first quarter. Harbor Investment Advisory LLC now owns 2,795 shares of the construction company’s stock worth $761,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Company Profile

Vulcan Materials Company (NYSE: VMC) is a producer and distributor of construction materials used in infrastructure, commercial, residential and industrial projects. The company is the largest producer of construction aggregates in the United States, including crushed stone, sand and gravel.

In addition to aggregates, Vulcan Materials produces asphalt mix, ready-mixed concrete and cement. Its materials are used in roads, bridges, airports, commercial buildings, homes and other construction applications.