Vulcan Materials (NYSE:VMC) Stock Gets Price Target Trim from Morgan Stanley

Vulcan Materials (NYSE:VMC) had its price objective lowered by Morgan Stanley from $321.00 to $311.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the construction company’s stock. Morgan Stanley‘s target price indicates a potential upside of 4.26% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. UBS Group reduced their price objective on shares of Vulcan Materials from $349.00 to $326.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. Truist Financial dropped their target price on shares of Vulcan Materials from $360.00 to $320.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Citigroup increased their target price on shares of Vulcan Materials from $300.00 to $326.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Raymond James Financial cut 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. Finally, BNP Paribas Exane reduced their price target on shares of Vulcan Materials from $290.00 to $281.00 and set a “neutral” rating for the company in a report on Friday, October 30th. Twelve investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $310.72.

Vulcan Materials Trading Up 4.8%

NYSE VMC traded up $13.70 during trading hours on Wednesday, hitting $298.30. 720,436 shares of the company’s stock were exchanged, compared to its average volume of 1,178,168. The stock has a 50-day simple moving average of $256.22 and a 200 day simple moving average of $280.22. Vulcan Materials has a 1-year low of $237.03 and a 1-year high of $331.09. The firm has a market cap of $38.28 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 3.00 and a beta of 0.99. The company has a current ratio of 1.43, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Thursday, October 29th. The construction company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.02. Vulcan Materials had a return on equity of 13.03% and a net margin of 13.77%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the company posted $2.84 earnings per share. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, equities analysts forecast that Vulcan Materials will post 8.86 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Vulcan Materials in the 2nd quarter worth about $2,868,444,000. Bank of America Corp DE bought a new position in Vulcan Materials in the 2nd quarter valued at about $688,580,000. The Manufacturers Life Insurance Company acquired a new position in Vulcan Materials during the 2nd quarter valued at about $451,119,000. Dimensional Fund Advisors LP boosted its stake in Vulcan Materials by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,346,422 shares of the construction company’s stock valued at $366,592,000 after purchasing an additional 24,187 shares during the last quarter. Finally, Stockbridge Partners LLC acquired a new position in Vulcan Materials during the 2nd quarter valued at about $314,470,000. 90.39% of the stock is owned by institutional investors.

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.