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

Vulcan Materials (NYSE:VMC) gapped down prior to trading 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 changing hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on VMC. Truist Financial raised their price target on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on shares of Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Stephens restated an “overweight” rating and set a $325.00 price objective on shares of Vulcan Materials in a research note on Thursday, January 2nd. StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Citigroup reduced their price objective on Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.18.

Vulcan Materials Stock Up 2.3 %

The firm’s 50 day moving average price is $268.32 and its two-hundred day moving average price is $261.45. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $35.62 billion, a PE ratio of 42.55, a P/E/G ratio of 2.14 and a beta of 0.84.

Institutional Investors Weigh In On Vulcan Materials

Hedge funds have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in Vulcan Materials during the 3rd quarter valued at approximately $811,000. DAVENPORT & Co LLC increased its position in shares of Vulcan Materials by 149.4% in the 4th quarter. DAVENPORT & Co LLC now owns 9,393 shares of the construction company’s stock worth $2,416,000 after purchasing an additional 5,627 shares during the last quarter. Smith Group Asset Management LLC bought a new stake in shares of Vulcan Materials in the 4th quarter worth about $514,000. Campbell Newman Asset Management Inc. acquired a new stake in shares of Vulcan Materials during the 4th quarter valued at approximately $15,719,000. Finally, Franklin Resources Inc. raised its position in shares of Vulcan Materials by 284.9% during the 3rd quarter. Franklin Resources Inc. now owns 44,650 shares of the construction company’s stock valued at $11,104,000 after acquiring an additional 33,051 shares in the last quarter. Institutional investors and hedge funds 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.