Vulcan Materials (NYSE:VMC) Shares Gap Down - Here's What Happened

Vulcan Materials (NYSE:VMC - Get Free Report) shares gapped down prior to trading 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 trading hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on VMC shares. Stephens reaffirmed an "overweight" rating and set a $325.00 price objective on shares of Vulcan Materials in a report on Thursday, January 2nd. Barclays upped their price target on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 29th. StockNews.com raised shares of Vulcan Materials from a "sell" rating to a "hold" rating in a report on Friday, November 1st. Citigroup dropped their target price on shares of Vulcan Materials from $325.00 to $301.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, UBS Group assumed coverage on Vulcan Materials in a research note on Thursday, November 7th. They set a "buy" rating and a $349.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $301.18.

Vulcan Materials Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. The business has a fifty day simple moving average of $267.64 and a 200 day simple moving average of $261.49. The stock has a market cap of $35.73 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 2.14 and a beta of 0.84.

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a $0.49 dividend. This is an increase from Vulcan Materials's previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 0.72%. Vulcan Materials's payout ratio is presently 29.02%.

Institutional Investors Weigh In On Vulcan Materials

Several hedge funds have recently modified their holdings of the company. DoubleLine ETF Adviser LP purchased a new position in shares of Vulcan Materials during the fourth quarter valued at approximately $3,811,000. Keel Point LLC lifted its stake in shares of Vulcan Materials by 8.9% during the 4th quarter. Keel Point LLC now owns 1,960 shares of the construction company's stock worth $504,000 after purchasing an additional 161 shares during the period. Freestone Grove Partners LP acquired a new stake in shares of Vulcan Materials during the fourth quarter worth $19,302,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Vulcan Materials during the fourth quarter worth $35,000. Finally, Voleon Capital Management LP purchased a new stake in shares of Vulcan Materials in the fourth quarter valued at $1,105,000. 90.39% of the stock is owned by institutional investors and hedge funds.

About Vulcan Materials

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.