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

Vulcan Materials (NYSE:VMC) shares gapped down before the market opened 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

A number of analysts have commented on VMC shares. Raymond James cut their price target on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a research report on Thursday, January 16th. Truist Financial upped their price target on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Barclays upped their price target on shares of Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. UBS Group started coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $349.00 price objective on the stock. Finally, Citigroup cut their price objective on shares of Vulcan Materials from $325.00 to $301.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Vulcan Materials presently has an average rating of “Moderate Buy” and an average target price of $301.18.

Vulcan Materials Stock Performance

The company’s fifty day moving average is $268.75 and its 200 day moving average is $261.43. The company has a market capitalization of $34.98 billion, a P/E ratio of 41.96, a P/E/G ratio of 2.14 and a beta of 0.84. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of VMC. Vanguard Group Inc. raised its position in shares of Vulcan Materials by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 16,352,507 shares of the construction company’s stock valued at $4,206,355,000 after buying an additional 90,157 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Vulcan Materials by 13.9% in the fourth quarter. Principal Financial Group Inc. now owns 6,062,201 shares of the construction company’s stock valued at $1,559,380,000 after acquiring an additional 741,631 shares during the period. State Street Corp increased its position in shares of Vulcan Materials by 1.2% in the third quarter. State Street Corp now owns 5,281,102 shares of the construction company’s stock valued at $1,322,546,000 after acquiring an additional 65,163 shares during the period. FMR LLC increased its position in shares of Vulcan Materials by 2.2% in the third quarter. FMR LLC now owns 3,660,931 shares of the construction company’s stock valued at $916,807,000 after acquiring an additional 78,271 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Vulcan Materials by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,311,585 shares of the construction company’s stock valued at $826,644,000 after acquiring an additional 33,061 shares during the period. 90.39% of the stock is owned by institutional investors.

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.