Morgan Stanley Issues Positive Forecast for Vulcan Materials (NYSE:VMC) Stock Price

Vulcan Materials (NYSE:VMC) had its price target hoisted by research analysts at Morgan Stanley from $321.00 to $322.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the construction company’s stock. Morgan Stanley’s price objective indicates a potential upside of 19.98% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Citigroup raised their target price on shares of Vulcan Materials from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. DA Davidson decreased their price target on shares of Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. Wall Street Zen downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. B. Riley Financial began coverage on shares of Vulcan Materials in a research report on Thursday, January 15th. They issued a “buy” rating and a $345.00 target price for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Vulcan Materials in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.29.

Vulcan Materials Price Performance

Vulcan Materials stock traded down $6.61 during midday trading on Monday, reaching $268.38. 112,397 shares of the stock were exchanged, compared to its average volume of 1,133,578. The company’s fifty day moving average is $304.36 and its 200-day moving average is $297.64. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.97 and a current ratio of 2.69. Vulcan Materials has a 52 week low of $215.08 and a 52 week high of $331.09. The firm has a market cap of $35.05 billion, a PE ratio of 33.05, a PEG ratio of 2.02 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Tuesday, February 17th. The construction company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.41). The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.95 billion. Vulcan Materials had a return on equity of 12.56% and a net margin of 13.56%.The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.17 EPS. On average, sell-side analysts forecast that Vulcan Materials will post 8.69 EPS for the current year.

Insider Activity

In other Vulcan Materials news, SVP Denson N. Franklin III sold 665 shares of Vulcan Materials stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $295.00, for a total transaction of $196,175.00. Following the sale, the senior vice president directly owned 8,284 shares of the company’s stock, valued at approximately $2,443,780. The trade was a 7.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Melissa H. Anderson sold 1,137 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $303.72, for a total value of $345,329.64. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 8,937 shares of company stock valued at $2,687,784. Insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Lone Pine Capital LLC bought a new stake in Vulcan Materials during the 3rd quarter worth approximately $425,938,000. Norges Bank purchased a new position in Vulcan Materials during the fourth quarter valued at approximately $383,613,000. Egerton Capital UK LLP bought a new position in shares of Vulcan Materials in the fourth quarter worth approximately $273,861,000. JPMorgan Chase & Co. increased its stake in shares of Vulcan Materials by 12.3% in the second quarter. JPMorgan Chase & Co. now owns 7,824,987 shares of the construction company’s stock worth $2,040,914,000 after purchasing an additional 857,210 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Vulcan Materials by 598.5% in the second quarter. Franklin Resources Inc. now owns 719,924 shares of the construction company’s stock worth $187,771,000 after purchasing an additional 616,850 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

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.