Wells Fargo & Company Has Lowered Expectations for Vulcan Materials (NYSE:VMC) Stock Price

Vulcan Materials (NYSE:VMC) had its target price decreased by equities researchers at Wells Fargo & Company from $310.00 to $305.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 5.83% from the stock’s previous close.

A number of other research firms also recently weighed in on VMC. Oppenheimer initiated coverage on shares of Vulcan Materials in a report on Thursday, May 28th. They issued a “market perform” rating on the stock. Wall Street Zen upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Raymond James Financial set a $325.00 price objective on shares of Vulcan Materials in a research note on Thursday, April 30th. Zacks Research raised Vulcan Materials from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 9th. Finally, Barclays lifted their price target on shares of Vulcan Materials from $296.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $326.15.

Vulcan Materials Stock Performance

NYSE VMC traded down $11.70 during trading hours on Wednesday, hitting $288.20. 77,937 shares of the company’s stock traded hands, compared to its average volume of 1,202,136. Vulcan Materials has a 52 week low of $252.35 and a 52 week high of $331.09. The business’s fifty day moving average price is $286.88 and its two-hundred day moving average price is $291.04. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $37.40 billion, a P/E ratio of 34.21, a P/E/G ratio of 2.20 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.00 EPS. Equities research analysts predict that Vulcan Materials will post 9.27 EPS for the current year.

Insiders Place Their Bets

In other news, SVP David P. Clement sold 2,212 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $292.29, for a total value of $646,545.48. Following the completion of the sale, the senior vice president owned 8,716 shares of the company’s stock, valued at $2,547,599.64. This represents a 20.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by insiders.

Institutional Trading of Vulcan Materials

Hedge funds and other institutional investors have recently modified their holdings of the business. Burkett Financial Services LLC purchased a new stake in shares of Vulcan Materials in the 2nd quarter valued at approximately $25,000. NBT Bank N A NY purchased a new position in Vulcan Materials in the fourth quarter valued at $26,000. Meeder Asset Management Inc. boosted its stake in shares of Vulcan Materials by 71.7% in the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock valued at $28,000 after buying an additional 43 shares during the period. Birchwood Financial Partners Inc. acquired a new stake in shares of Vulcan Materials in the 4th quarter valued at $29,000. Finally, Godsey & Gibb Inc. acquired a new stake in Vulcan Materials in the fourth quarter valued at $30,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Company Profile

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.