Truist Financial Cuts Vulcan Materials (NYSE:VMC) Price Target to $300.00

Vulcan Materials (NYSE:VMC) had its price target cut by analysts at Truist Financial from $320.00 to $300.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s price target suggests a potential upside of 20.68% from the stock’s current price.

Several other equities analysts have also weighed in on VMC. Citigroup cut their price objective on shares of Vulcan Materials from $322.00 to $297.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Loop Capital cut their price objective on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Stephens increased their price objective on shares of Vulcan Materials from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Jefferies Financial Group increased their price objective on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Royal Bank of Canada increased their price objective on shares of Vulcan Materials from $269.00 to $272.00 and gave the company a “sector perform” rating in a report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.54.

Vulcan Materials Price Performance

NYSE:VMC traded up $2.45 on Wednesday, reaching $248.59. The stock had a trading volume of 36,920 shares, compared to its average volume of 786,725. The company has a market capitalization of $32.88 billion, a P/E ratio of 36.30, a price-to-earnings-growth ratio of 2.22 and a beta of 0.82. Vulcan Materials has a 1-year low of $190.51 and a 1-year high of $278.79. The company has a quick ratio of 1.81, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average price of $252.78 and a 200-day moving average price of $255.87.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. Vulcan Materials’s revenue for the quarter was down 4.7% on a year-over-year basis. Research analysts forecast that Vulcan Materials will post 8.32 EPS for the current year.

Insider Buying and Selling

In related news, SVP David P. Clement sold 1,000 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $249.50, for a total transaction of $249,500.00. Following the completion of the transaction, the senior vice president now owns 1,660 shares in the company, valued at $414,170. The sale was disclosed in a filing 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 stock in a transaction on Monday, June 10th. The shares were sold at an average price of $249.50, for a total transaction of $249,500.00. Following the completion of the transaction, the senior vice president now owns 1,660 shares in the company, valued at $414,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Thompson S. Baker II sold 6,610 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $272.64, for a total transaction of $1,802,150.40. Following the completion of the sale, the president now owns 4,784 shares of the company’s stock, valued at approximately $1,304,309.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,210 shares of company stock worth $4,653,520. 0.62% of the stock is owned by insiders.

Institutional Trading of Vulcan Materials

A number of large investors have recently added to or reduced their stakes in VMC. Vanguard Group Inc. increased its position in Vulcan Materials by 5.0% during the first quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock worth $4,368,273,000 after acquiring an additional 755,991 shares during the period. Principal Financial Group Inc. boosted its holdings in Vulcan Materials by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 4,494,455 shares of the construction company’s stock valued at $1,226,627,000 after purchasing an additional 83,601 shares during the period. Capital World Investors bought a new stake in Vulcan Materials in the 1st quarter valued at about $388,027,000. Dimensional Fund Advisors LP boosted its holdings in Vulcan Materials by 7.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,256,372 shares of the construction company’s stock valued at $285,200,000 after purchasing an additional 83,337 shares during the period. Finally, Norges Bank acquired a new position in shares of Vulcan Materials in the 4th quarter valued at approximately $282,528,000. 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.