Vulcan Materials (NYSE:VMC) Shares Gap Down to $257.43

Vulcan Materials (NYSE:VMC) gapped down before the market opened on Tuesday . The stock had previously closed at $257.43, but opened at $245.61. Vulcan Materials shares last traded at $241.49, with a volume of 85,013 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VMC. Loop Capital lowered their price target on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Stephens boosted their price target on shares of Vulcan Materials from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Citigroup cut their price target on shares of Vulcan Materials from $322.00 to $297.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Royal Bank of Canada lifted their price objective on shares of Vulcan Materials from $269.00 to $272.00 and gave the stock a “sector perform” rating in a research note on Friday, May 3rd. Finally, Jefferies Financial Group increased their target price on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Vulcan Materials has a consensus rating of “Moderate Buy” and a consensus price target of $277.08.

Vulcan Materials Stock Performance

The firm’s 50 day simple moving average is $252.93 and its 200-day simple moving average is $255.73. The company has a market capitalization of $32.88 billion, a price-to-earnings ratio of 35.98, a P/E/G ratio of 2.22 and a beta of 0.82. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.81 and a current ratio of 2.74.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, August 15th. Vulcan Materials’s payout ratio is 26.86%.

Insiders Place Their Bets

In other news, SVP David P. Clement sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $254.50, for a total value of $254,500.00. Following the transaction, the senior vice president now owns 2,660 shares in the company, valued at approximately $676,970. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Thompson S. Baker II sold 8,600 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $272.95, for a total transaction of $2,347,370.00. Following the completion of the sale, the president now directly owns 1,300 shares in the company, valued at $354,835. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP David P. Clement sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were 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 owns 2,660 shares in the company, valued at approximately $676,970. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,210 shares of company stock worth $4,653,520. 0.62% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vulcan Materials

A number of hedge funds and other institutional investors have recently made changes to their positions in VMC. Capital World Investors bought a new position in Vulcan Materials during the first quarter valued at approximately $388,027,000. Norges Bank bought a new position in shares of Vulcan Materials during the 4th quarter valued at $282,528,000. Vanguard Group Inc. lifted its stake in shares of Vulcan Materials by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock valued at $4,368,273,000 after purchasing an additional 755,991 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Vulcan Materials by 271.0% in the fourth quarter. Point72 Asset Management L.P. now owns 823,141 shares of the construction company’s stock worth $186,861,000 after purchasing an additional 601,268 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Vulcan Materials by 621.1% during the first quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock worth $64,581,000 after buying an additional 203,166 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

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.