Vulcan Materials (NYSE:VMC) Shares Gap Down – Here’s What Happened

Vulcan Materials (NYSE:VMC)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $267.77, but opened at $255.33. Vulcan Materials shares last traded at $259.75, with a volume of 181,930 shares traded.

Analyst Ratings Changes

Several equities research analysts recently issued reports on VMC shares. UBS Group started coverage on Vulcan Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target for the company. Citigroup cut their price target on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Barclays boosted their price target on Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price target on Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $301.18.

Vulcan Materials Stock Down 1.1 %

The firm’s fifty day moving average price is $268.75 and its 200-day moving average price is $261.43. The company has a market capitalization of $34.98 billion, a price-to-earnings ratio of 41.96, a P/E/G ratio of 2.14 and a beta of 0.84. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VMC. Norges Bank acquired a new position in shares of Vulcan Materials during the fourth quarter worth $380,369,000. Principal Financial Group Inc. increased its holdings in Vulcan Materials by 19.9% in the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock valued at $1,332,431,000 after purchasing an additional 884,580 shares during the period. Proficio Capital Partners LLC increased its holdings in Vulcan Materials by 28,529.4% in the fourth quarter. Proficio Capital Partners LLC now owns 523,631 shares of the construction company’s stock valued at $134,694,000 after purchasing an additional 521,802 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Vulcan Materials by 18.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock valued at $533,551,000 after purchasing an additional 330,433 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Vulcan Materials in the fourth quarter valued at $74,760,000. 90.39% of the stock is currently 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.