Sumitomo Mitsui Trust Holdings Inc. Sells 5,915 Shares of Vulcan Materials Co. (VMC)
Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of Vulcan Materials Co. (NYSE:VMC) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 401,337 shares of the company’s stock after selling 5,915 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.30% of Vulcan Materials worth $48,305,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in VMC. Capital Growth Management LP purchased a new stake in Vulcan Materials during the first quarter valued at $56,480,000. Meeder Asset Management Inc. purchased a new stake in Vulcan Materials during the first quarter valued at $332,000. State Street Corp increased its stake in Vulcan Materials by 1.1% in the first quarter. State Street Corp now owns 5,186,629 shares of the company’s stock valued at $547,557,000 after buying an additional 54,500 shares during the period. Gardner Lewis Asset Management L P increased its stake in Vulcan Materials by 9.0% in the first quarter. Gardner Lewis Asset Management L P now owns 20,417 shares of the company’s stock valued at $2,155,000 after buying an additional 1,680 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Vulcan Materials by 15.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,209 shares of the company’s stock valued at $1,183,000 after buying an additional 1,484 shares during the period. 86.65% of the stock is currently owned by institutional investors.
Shares of Vulcan Materials Co. (NYSE:VMC) traded up 2.57% on Monday, hitting $112.59. The stock had a trading volume of 1,841,307 shares. Vulcan Materials Co. has a 1-year low of $78.83 and a 1-year high of $127.20. The firm has a 50 day moving average of $111.26 and a 200-day moving average of $114.88. The firm has a market capitalization of $14.98 billion, a price-to-earnings ratio of 42.96 and a beta of 1.19.
Vulcan Materials (NYSE:VMC) last released its earnings results on Monday, August 1st. The company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.10. The firm earned $956.80 million during the quarter, compared to the consensus estimate of $1.01 billion. Vulcan Materials had a net margin of 9.85% and a return on equity of 8.74%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. Equities analysts predict that Vulcan Materials Co. will post $3.23 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Wednesday, November 23rd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, November 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.71%. Vulcan Materials’s dividend payout ratio (DPR) is currently 30.65%.
Several equities research analysts recently weighed in on the company. Zacks Investment Research raised Vulcan Materials from a “hold” rating to a “strong-buy” rating and set a $144.00 price objective on the stock in a report on Monday, July 18th. Royal Bank Of Canada raised their price objective on Vulcan Materials from $127.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday, July 12th. Argus reissued a “buy” rating and set a $129.00 price objective on shares of Vulcan Materials in a report on Wednesday, August 3rd. Jefferies Group reaffirmed a “hold” rating on shares of Vulcan Materials in a report on Wednesday, August 31st. Finally, DA Davidson reaffirmed a “hold” rating and set a $120.00 target price on shares of Vulcan Materials in a report on Sunday, October 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $130.89.
In other news, insider Stanley G. Bass sold 829 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $121.07, for a total transaction of $100,367.03. Following the completion of the sale, the insider now directly owns 15,185 shares in the company, valued at $1,838,447.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David J. Grayson sold 2,025 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $118.77, for a total transaction of $240,509.25. Following the sale, the insider now owns 18,637 shares of the company’s stock, valued at $2,213,516.49. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.
About Vulcan Materials
Vulcan Materials Company is a producer of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company has four segments organized around its principal product lines: Aggregates, Asphalt Mix, Concrete and Calcium. The Company operates approximately 344 aggregates facilities.
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