Vulcan Materials Co. (VMC) Stake Decreased by British Columbia Investment Management Corp
British Columbia Investment Management Corp cut its stake in Vulcan Materials Co. (NYSE:VMC) by 16.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,746 shares of the company’s stock after selling 15,380 shares during the period. British Columbia Investment Management Corp owned about 0.06% of Vulcan Materials worth $8,842,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bienville Capital Management LLC boosted its position in Vulcan Materials by 110.0% in the second quarter. Bienville Capital Management LLC now owns 4,200 shares of the company’s stock valued at $506,000 after buying an additional 2,200 shares during the period. New York State Teachers Retirement System boosted its position in Vulcan Materials by 0.8% in the second quarter. New York State Teachers Retirement System now owns 230,609 shares of the company’s stock valued at $27,756,000 after buying an additional 1,901 shares during the period. AGF Investments Inc. boosted its position in Vulcan Materials by 14.8% in the second quarter. AGF Investments Inc. now owns 707,428 shares of the company’s stock valued at $85,132,000 after buying an additional 91,459 shares during the period. Guggenheim Capital LLC boosted its position in Vulcan Materials by 11.9% in the second quarter. Guggenheim Capital LLC now owns 487,268 shares of the company’s stock valued at $58,646,000 after buying an additional 51,956 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Vulcan Materials by 16.2% in the second quarter. Bank of New York Mellon Corp now owns 3,202,344 shares of the company’s stock valued at $385,433,000 after buying an additional 445,558 shares during the period. 87.68% of the stock is currently owned by institutional investors and hedge funds.
Vulcan Materials Co. (NYSE:VMC) traded down 5.66% during mid-day trading on Monday, hitting $124.59. 3,325,609 shares of the company were exchanged. The company’s 50-day moving average is $118.58 and its 200 day moving average is $117.47. The company has a market capitalization of $16.48 billion, a P/E ratio of 45.49 and a beta of 1.19. Vulcan Materials Co. has a 12-month low of $78.83 and a 12-month high of $138.18.
Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, November 2nd. The company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by $0.18. Vulcan Materials had a net margin of 10.38% and a return on equity of 8.83%. The company earned $1.01 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business earned $0.95 EPS. The business’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts expect that Vulcan Materials Co. will post $3.02 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Wednesday, November 23rd will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, November 21st. This represents a $0.80 dividend on an annualized basis and a yield of 0.61%. Vulcan Materials’s dividend payout ratio is currently 29.20%.
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Several research firms recently weighed in on VMC. Bank of America Corp. cut shares of Vulcan Materials from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 16th. They noted that the move was a valuation call. Stephens cut shares of Vulcan Materials from an “overweight” rating to an “equal weight” rating in a research report on Thursday, November 17th. Argus restated a “buy” rating and issued a $129.00 price objective on shares of Vulcan Materials in a research report on Wednesday, August 3rd. Jefferies Group restated a “hold” rating on shares of Vulcan Materials in a research report on Wednesday, August 31st. Finally, SunTrust Banks Inc. upgraded shares of Vulcan Materials from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $129.00 in a research report on Wednesday, October 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $130.70.
In other Vulcan Materials news, insider David J. Grayson sold 2,121 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $118.49, for a total value of $251,317.29. Following the sale, the insider now owns 16,648 shares in the company, valued at $1,972,621.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.92% of the stock is currently owned by company insiders.
Vulcan Materials Company Profile
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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