Vulcan Materials Co.'s (VMC) shares fell 5% today after issuing a weak guidance yesterday and unveiling plans to offer shares.

The producer of construction aggregates said full-year earnings are expected between 70 cents and $1.00 per share. The outlook is lower than the average forecast of $1.07 per share, which has dropped 36 cents, or 25%, over the past 2 months.

Vulcan now anticipates shipments of aggregates to shrink 17% to 20%, compared to previous indication for a 10% to 15% decline, citing sluggish demand and unusually wet weather in key markets.

The company also announced a common stock offering of 11.5 million shares, which amounts to approximately $500 million, based on yesterday's closing price.

The offer will dilute Vulcan's existing shares of 110.6 million by about 10%. Proceeds from the share-sale will be used to reduce debt and for corporate purposes.

The company also said that it

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Vulcan Materials Co.'s (VMC) MACD indicator has moved into bearish territory with a reading of -0.0984. The Zacks #5 Rank ("Strong Sell") stock has declined nearly 1% to $44.29 in morning trade. The full-year consensus estimate has declined by 35 cents over the past 2 months to $1.08 per share. The most accurate estimate is even bearish at $1.01 per share.

"VMC" Free Stock Analysis: Buy? Sell? Hold?Zacks Investment Research

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