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

Vulcan Materials (NYSE:VMC)’s stock price gapped down prior to trading 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.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Jefferies Financial Group increased their target price on Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Loop Capital dropped their price objective on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Citigroup decreased their target price on shares of Vulcan Materials from $322.00 to $297.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Royal Bank of Canada boosted their price objective on 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, Stephens raised their price objective on Vulcan Materials from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.08.

Vulcan Materials Stock Performance

The firm has a market capitalization of $32.88 billion, a P/E 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 current ratio of 2.74 and a quick ratio of 1.81. The firm has a 50-day moving average price of $252.93 and a two-hundred day moving average price of $255.73.

Vulcan Materials Dividend Announcement

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

Insider Activity

In other Vulcan Materials news, President Thompson S. Baker II sold 8,600 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $272.95, for a total transaction of $2,347,370.00. Following the transaction, the president now directly owns 1,300 shares in the company, valued at approximately $354,835. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP David P. Clement sold 1,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $254.50, for a total transaction of $254,500.00. Following the completion of the sale, the senior vice president now directly owns 2,660 shares in the company, valued at approximately $676,970. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Thompson S. Baker II sold 8,600 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $272.95, for a total value of $2,347,370.00. Following the sale, the president now directly owns 1,300 shares in the company, valued at approximately $354,835. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,210 shares of company stock worth $4,653,520. Company insiders own 0.62% of the company’s stock.

Institutional Trading of Vulcan Materials

Several hedge funds have recently modified their holdings of the company. Los Angeles Capital Management LLC grew its holdings in Vulcan Materials by 33.4% in the second quarter. Los Angeles Capital Management LLC now owns 73,964 shares of the construction company’s stock worth $18,393,000 after purchasing an additional 18,532 shares during the last quarter. Savant Capital LLC boosted its position in shares of Vulcan Materials by 96.6% in the 2nd quarter. Savant Capital LLC now owns 2,200 shares of the construction company’s stock worth $547,000 after purchasing an additional 1,081 shares in the last quarter. Narwhal Capital Management grew its stake in Vulcan Materials by 1.4% during the 2nd quarter. Narwhal Capital Management now owns 122,279 shares of the construction company’s stock worth $30,408,000 after buying an additional 1,715 shares during the last quarter. Private Advisor Group LLC increased its position in Vulcan Materials by 5.7% during the 2nd quarter. Private Advisor Group LLC now owns 4,732 shares of the construction company’s stock valued at $1,177,000 after buying an additional 255 shares in the last quarter. Finally, Palmer Knight Co increased its position in Vulcan Materials by 0.5% during the 2nd quarter. Palmer Knight Co now owns 25,236 shares of the construction company’s stock valued at $6,276,000 after buying an additional 123 shares in 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.