Citigroup Cuts Vulcan Materials (NYSE:VMC) Price Target to $342.00

Vulcan Materials (NYSE:VMC) had its price objective cut by equities research analysts at Citigroup from $356.00 to $342.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Citigroup’s price objective would indicate a potential upside of 19.08% from the company’s previous close.

Several other analysts have also recently commented on the stock. Stifel Nicolaus set a $327.00 target price on shares of Vulcan Materials in a research report on Monday. Royal Bank Of Canada dropped their target price on shares of Vulcan Materials from $279.00 to $278.00 and set a “sector perform” rating for the company in a research report on Friday. JPMorgan Chase & Co. raised their price objective on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Raymond James Financial boosted their target price on Vulcan Materials from $295.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Finally, Morgan Stanley lowered their price target on Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating for the company in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and a consensus price target of $316.45.

Vulcan Materials Trading Down 0.8%

Shares of Vulcan Materials stock traded down $2.29 on Monday, hitting $287.21. 1,169,116 shares of the company’s stock traded hands, compared to its average volume of 988,987. The firm’s 50-day moving average price is $296.59 and its two-hundred day moving average price is $277.89. The stock has a market capitalization of $37.95 billion, a PE ratio of 40.16, a price-to-earnings-growth ratio of 2.39 and a beta of 0.92. Vulcan Materials has a one year low of $215.08 and a one year high of $311.74. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Thursday, October 30th. The construction company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.72 by $0.12. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.22 EPS. On average, research analysts expect that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 698 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $298.56, for a total transaction of $208,394.88. Following the completion of the transaction, the senior vice president directly owned 2,832 shares of the company’s stock, valued at $845,521.92. This represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VMC. ORG Partners LLC boosted its position in Vulcan Materials by 86.3% during the second quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in Vulcan Materials during the second quarter valued at approximately $32,000. Concord Wealth Partners acquired a new position in Vulcan Materials during the second quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Vulcan Materials during the third quarter valued at approximately $42,000. Finally, Manchester Capital Management LLC raised its stake in Vulcan Materials by 26.9% in the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company’s stock valued at $43,000 after buying an additional 39 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

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.