Vulcan Materials (NYSE:VMC) Stock Price Target Lowered at JPMorgan Chase & Co.

Vulcan Materials (NYSE:VMC) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $320.00 to $300.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 23.12% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on VMC. Wells Fargo & Company cut their price objective on shares of Vulcan Materials from $254.00 to $249.00 and set an “underweight” rating for the company in a research report on Monday, October 5th. Weiss Ratings lowered shares of Vulcan Materials from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 24th. Citigroup decreased their target price on shares of Vulcan Materials from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. UBS Group dropped their price target on shares of Vulcan Materials from $349.00 to $326.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Finally, DA Davidson restated a “buy” rating and set a $330.00 price target on shares of Vulcan Materials in a report on Monday, September 21st. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $312.00.

Vulcan Materials Stock Performance

Shares of NYSE:VMC traded down $1.49 during midday trading on Tuesday, reaching $243.66. The company’s stock had a trading volume of 550,456 shares, compared to its average volume of 1,160,870. The firm has a market capitalization of $31.57 billion, a PE ratio of 28.79, a P/E/G ratio of 2.47 and a beta of 1.05. Vulcan Materials has a twelve month low of $237.03 and a twelve month high of $331.09. The stock has a fifty day moving average of $260.80 and a 200 day moving average of $276.92. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.42 earnings per share. On average, equities analysts expect that Vulcan Materials will post 9.10 EPS for the current fiscal year.

Insider Activity at Vulcan Materials

In related news, SVP David Clement sold 2,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $285.10, for a total transaction of $570,200.00. Following the completion of the transaction, the senior vice president owned 6,716 shares of the company’s stock, valued at approximately $1,914,731.60. This trade represents a 22.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J. Hill sold 14,000 shares of Vulcan Materials stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $276.17, for a total transaction of $3,866,380.00. Following the completion of the sale, the director owned 58,209 shares of the company’s stock, valued at $16,075,579.53. This trade represents a 19.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Vulcan Materials

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Vulcan Materials during the second quarter worth about $2,868,444,000. Bank of America Corp DE purchased a new position in shares of Vulcan Materials in the second quarter valued at approximately $688,580,000. The Manufacturers Life Insurance Company acquired a new position in shares of Vulcan Materials in the second quarter valued at approximately $451,119,000. Stockbridge Partners LLC purchased a new stake in Vulcan Materials during the 2nd quarter worth approximately $314,470,000. Finally, Veritas Asset Management LLP acquired a new stake in Vulcan Materials during the 2nd quarter worth approximately $306,641,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Company Profile

Vulcan Materials Company (NYSE:VMC) is a major producer and supplier of construction materials in the United States. The company primarily produces and distributes construction aggregates, including crushed stone, sand and gravel, which are used in infrastructure, commercial, residential and industrial projects.

In addition to aggregates, Vulcan produces asphalt mix and ready-mixed concrete and provides related construction-material services. Its products support highways, bridges, airports, buildings and other essential infrastructure.