Citigroup Lowers Vulcan Materials (NYSE:VMC) Price Target to $297.00

Vulcan Materials (NYSE:VMC) had its price objective decreased by stock analysts at Citigroup from $322.00 to $297.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Citigroup’s price target would indicate a potential upside of 17.05% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Royal Bank of Canada upped their price target on Vulcan Materials from $269.00 to $272.00 and gave the stock a “sector perform” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $270.00 price objective (up previously from $245.00) on shares of Vulcan Materials in a report on Friday, March 22nd. Stephens increased their price objective on Vulcan Materials from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Loop Capital dropped their price objective on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Finally, Truist Financial increased their price objective on Vulcan Materials from $300.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.08.

Vulcan Materials Stock Up 2.4 %

NYSE VMC traded up $6.01 during trading hours on Thursday, hitting $253.73. 447,712 shares of the company were exchanged, compared to its average volume of 765,414. The company has a 50 day moving average of $254.50 and a two-hundred day moving average of $250.96. The company has a quick ratio of 1.81, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. Vulcan Materials has a 52-week low of $190.51 and a 52-week high of $276.58. The firm has a market cap of $33.56 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 1.82 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.11). Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the company earned $0.95 EPS. Vulcan Materials’s revenue for the quarter was down 6.2% compared to the same quarter last year. Equities research analysts anticipate that Vulcan Materials will post 8.48 earnings per share for the current year.

Insider Activity at Vulcan Materials

In related news, SVP David P. Clement sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $254.50, for a total value of $254,500.00. Following the completion of the transaction, the senior vice president now directly owns 2,660 shares of the company’s stock, valued at approximately $676,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP David P. Clement sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $254.50, for a total value of $254,500.00. Following the completion of the transaction, the senior vice president now directly owns 2,660 shares of the company’s stock, valued at approximately $676,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Thompson S. Baker II sold 6,610 shares of the firm’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 completion of the transaction, the president now directly owns 4,784 shares of the company’s stock, valued at $1,304,309.76. The disclosure for this sale can be found here. Insiders sold 17,210 shares of company stock valued at $4,653,520 in the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Vulcan Materials

Hedge funds have recently bought and sold shares of the stock. Independent Advisor Alliance increased its position in Vulcan Materials by 1.2% during the fourth quarter. Independent Advisor Alliance now owns 6,411 shares of the construction company’s stock worth $1,455,000 after buying an additional 73 shares in the last quarter. Strs Ohio grew its position in shares of Vulcan Materials by 6.3% in the fourth quarter. Strs Ohio now owns 74,103 shares of the construction company’s stock valued at $16,822,000 after purchasing an additional 4,412 shares during the period. Nordea Investment Management AB grew its position in shares of Vulcan Materials by 50.6% in the fourth quarter. Nordea Investment Management AB now owns 32,713 shares of the construction company’s stock valued at $7,384,000 after purchasing an additional 10,991 shares during the period. California State Teachers Retirement System grew its position in shares of Vulcan Materials by 4.2% in the fourth quarter. California State Teachers Retirement System now owns 229,757 shares of the construction company’s stock valued at $52,157,000 after purchasing an additional 9,193 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of Vulcan Materials by 53.6% in the fourth quarter. Federated Hermes Inc. now owns 81,319 shares of the construction company’s stock valued at $18,460,000 after purchasing an additional 28,369 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, 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.