Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Vulcan Materials Co shares valued at $862,336 were sold by Franklin Denson N. III on Mar 13 ’24. At $269.48 per share, Franklin Denson N. III sold 3,200 shares. The insider’s holdings dropped to 5,395 shares worth approximately $1.43 million following the completion of this transaction.
Also, Clement David P sold 2,842 shares, netting a total of over 747,446 in proceeds. Following the sale of shares at $263.00 each, the insider now holds 3,660 shares.
Before that, Anderson Melissa H. had sold 1,200 shares from its account. In a trade valued at $312,576, the Director traded Vulcan Materials Co shares for $260.48 each. Upon closing the transaction, the insider’s holdings decreased to 1,200 shares, worth approximately $87615.0.
As published in a research note from JP Morgan on March 22, 2024, Vulcan Materials Co [VMC] has been rated down from an Overweight to a Neutral and the price target has been revised to $270 from $245. Analysts at Wolfe Research downgraded the stock from ‘”an Outperform”‘ to ‘”a Peer perform”‘ outlook in a report released in early March. As of January 12, 2024, RBC Capital Mkts has decreased its “an Outperform” rating to a “Sector perform” for VMC. Earlier on January 08, 2024, Morgan Stanley initiated its rating. Their recommendation was “an Equal-weight” for VMC stock.
Analyzing VMC Stock Performance
During the last five days, there has been a drop of approximately -0.15%. Over the course of the year, Vulcan Materials Co shares have jumped approximately 16.96%. Shares of the company reached a 52-week high of $276.58 on 03/27/24 and a 52-week low of $218.37 on 01/03/24. A 50-day SMA is recorded $259.20, while a 200-day SMA reached $226.89. Nevertheless, trading volume fell to 0.55 million shares from 0.8 million shares the previous day.
Support And Resistance Levels for Vulcan Materials Co (VMC)
According to the 24-hour chart, there is a support level at 263.88, which, if violated, would cause prices to drop to 262.27. In the upper region, resistance lies at 267.07. The next price resistance is at 268.65. RSI (Relative Strength Index) is 49.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.25, which suggests the price will decrease in the coming days. Percent R is at 63.31%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Vulcan Materials Co subject to short interest?
Stocks of Vulcan Materials Co saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.43 million shares to 2.01 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 1.58 million shares. A jump of 21.39% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.3 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.3.
