Vulcan Materials (NYSE:VMC) Reaches New 52-Week High – What’s Next?

Vulcan Materials Company (NYSE:VMC) shares reached a new 52-week high during trading on Friday . The stock traded as high as $311.92 and last traded at $311.71, with a volume of 898402 shares trading hands. The stock had previously closed at $299.13.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VMC. Weiss Ratings reiterated a “buy (b)” rating on shares of Vulcan Materials in a report on Thursday, October 30th. Royal Bank Of Canada dropped their price target on shares of Vulcan Materials from $279.00 to $278.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. Wells Fargo & Company raised shares of Vulcan Materials to a “hold” rating in a research note on Wednesday, October 8th. Barclays boosted their price objective on shares of Vulcan Materials from $305.00 to $320.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, Citigroup upped their price objective on Vulcan Materials from $342.00 to $345.00 and gave the stock a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Vulcan Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $317.83.

Vulcan Materials Stock Performance

The stock’s 50 day moving average price is $291.17 and its 200 day moving average price is $287.67. The company has a current ratio of 2.23, a quick ratio of 1.56 and a debt-to-equity ratio of 0.50. The firm has a market cap of $41.19 billion, a PE ratio of 37.02, a P/E/G ratio of 2.06 and a beta of 1.06.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.12. Vulcan Materials had a net margin of 14.19% and a return on equity of 13.47%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the prior year, the company earned $2.22 EPS. The firm’s revenue was up 14.4% on a year-over-year basis. As a group, equities analysts forecast that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Denson N. Franklin III sold 665 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $295.00, for a total value of $196,175.00. Following the completion of the sale, the senior vice president owned 8,284 shares in the company, valued at approximately $2,443,780. This trade represents a 7.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Thompson S. Baker II sold 7,135 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $300.81, for a total value of $2,146,279.35. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 20,471 shares of company stock worth $6,054,615. 0.62% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in Vulcan Materials by 5,349.6% during the 4th quarter. SG Americas Securities LLC now owns 105,177 shares of the construction company’s stock valued at $29,999,000 after purchasing an additional 103,247 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Vulcan Materials by 993.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 396,628 shares of the construction company’s stock valued at $113,126,000 after buying an additional 360,368 shares during the last quarter. Fulton Bank N.A. grew its stake in shares of Vulcan Materials by 4.8% during the fourth quarter. Fulton Bank N.A. now owns 1,006 shares of the construction company’s stock valued at $287,000 after acquiring an additional 46 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Vulcan Materials by 1.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,419 shares of the construction company’s stock worth $6,426,000 after acquiring an additional 310 shares during the last quarter. Finally, Procyon Advisors LLC purchased a new stake in shares of Vulcan Materials during the fourth quarter worth about $211,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.