Vulcan Materials Company’s recent filing unveils that its Chairman, President & CEO Hill J Thomas unloaded Company’s shares for reported $0.95 million on Jun 07. In the deal valued at $201.79 per share,4,695 shares were sold. As a result of this transaction, Hill J Thomas now holds 80,039 shares worth roughly $ 17.31 million.
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Then, Pigg Randy L. sold 560 shares, generating $113,366 in total proceeds. Upon selling the shares at $202.44, the Vice President and Controller now owns 1,707 shares.
Before that, Clement David P sold 2,389 shares. Vulcan Materials Company shares valued at $468,244 were divested by the Senior Vice President at a price of $196.00 per share. As a result of the transaction, Clement David P now holds 2,887 shares, worth roughly $0.62 million.
JP Morgan downgraded its Vulcan Materials Company [VMC] rating to a Neutral from a an Overweight in a research note published on Tuesday, July 06, 2023; the price target was increased to $230 from $215. PT values the company’s stock at a premium of 5.98 to its Tuesday closing price.
Price Performance Review of VMC
On Tuesday, Vulcan Materials Company [NYSE:VMC] saw its stock fall -3.00% to $216.24. On the same session, the stock had its day’s lowest price of $214.48, but rose to a high of $222.19. Over the last five days, the stock has gained 0.53%. Vulcan Materials Company shares have risen nearly 23.49% since the year began. Nevertheless, the stocks have risen 30.09% over the past one year. While a 52-week high of $229.75 was reached on 08/07/23, a 52-week low of $147.64 was recorded on 03/15/23. SMA at 50 days reached $220.88, while 200 days put it at $191.94. A total of 0.83 million shares were traded, compared to the trading of 0.68 million shares in the previous session.
Levels Of Support And Resistance For VMC Stock
The 24-hour chart illustrates a support level at 213.08, which if violated will result in even more drops to 209.93. On the upside, there is a resistance level at 220.79. A further resistance level may holdings at 225.35. The Relative Strength Index (RSI) on the 14-day chart is 45.69, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.64, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 52.76%. Stochastics %K at 72.83% indicates the stock is a holding.
How much short interest is there in Vulcan Materials Company?
A steep rise in short interest was recorded in Vulcan Materials Company stocks on Aug 14, 2023, dropping by -0.32 million shares to a total of 1.13 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.45 million shares. There was a decline of -28.32%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.96% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.4.
Vulcan Materials Company [VMC] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 14,615,851 shares, or roughly 10.98% of the outstanding VMC shares. In other words, the investor’s shares have risen by 36,627 from its previous 13-F filing of 14579224.0. Over the last quarter, BlackRock Fund Advisors sold -42,287 shares of Vulcan Materials Company, while SSgA Funds Management, Inc. sold 123,332 shares. At present, Principal Global Investors LLC is holding 4,407,545 shares valued at $971.86 million. ClearBridge Investments LLC owned 3,025,765 shares of the company at the time of its most recent 13F filing, worth $667.18 million.
According to FactSet, Vulcan Materials Company’s share price will average $248.90 in the next year, based on opinions of analysts polled by the firm. This is up nearly 12.6 percent from its previous closing price of $222.92. Analysts expect Vulcan Materials Company stock to reach the higher price of $270.00, while the lowest price estimate is $219.00. However, 24 analysts have rated VMC stock as an Overweight in their predictions for 2023.