Retirement Systems of Alabama Sells 596 Shares of Vulcan Materials Co. (VMC)
Retirement Systems of Alabama cut its stake in shares of Vulcan Materials Co. (NYSE:VMC) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 124,057 shares of the company’s stock after selling 596 shares during the period. Retirement Systems of Alabama owned about 0.09% of Vulcan Materials worth $14,109,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in VMC. Envestnet Asset Management Inc. increased its position in shares of Vulcan Materials by 18.2% in the first quarter. Envestnet Asset Management Inc. now owns 15,002 shares of the company’s stock worth $1,584,000 after buying an additional 2,312 shares in the last quarter. Royal Bank of Canada increased its position in shares of Vulcan Materials by 63.7% in the first quarter. Royal Bank of Canada now owns 234,168 shares of the company’s stock worth $24,722,000 after buying an additional 91,137 shares in the last quarter. BlueMountain Capital Management LLC purchased a new position in shares of Vulcan Materials during the first quarter worth approximately $390,000. BNP Paribas Arbitrage SA increased its position in shares of Vulcan Materials by 40.2% in the second quarter. BNP Paribas Arbitrage SA now owns 36,662 shares of the company’s stock worth $4,413,000 after buying an additional 10,518 shares in the last quarter. Finally, DNB Asset Management AS increased its position in shares of Vulcan Materials by 2.7% in the second quarter. DNB Asset Management AS now owns 11,317 shares of the company’s stock worth $1,362,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 87.68% of the company’s stock.
Vulcan Materials Co. (NYSE:VMC) traded up 0.45% during trading on Wednesday, reaching $126.70. 541,652 shares of the company’s stock were exchanged. Vulcan Materials Co. has a 52 week low of $78.83 and a 52 week high of $138.18. The stock has a 50-day moving average of $119.10 and a 200-day moving average of $117.55. The stock has a market capitalization of $16.76 billion, a PE ratio of 46.26 and a beta of 1.19.
Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $1.01 EPS for the quarter, missing the Zacks’ consensus estimate of $1.19 by $0.18. Vulcan Materials had a return on equity of 8.83% and a net margin of 10.38%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the firm posted $0.95 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that Vulcan Materials Co. will post $3.02 EPS 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 given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Monday, November 21st. Vulcan Materials’s dividend payout ratio is presently 29.20%.
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VMC has been the subject of a number of recent research reports. SunTrust Banks Inc. upgraded shares of Vulcan Materials from a “hold” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $129.00 in a report on Wednesday, October 26th. Argus reiterated a “buy” rating and issued a $129.00 target price on shares of Vulcan Materials in a report on Wednesday, August 3rd. Stephens downgraded shares of Vulcan Materials from an “overweight” rating to an “equal weight” rating in a report on Thursday, November 17th. Jefferies Group reiterated a “hold” rating on shares of Vulcan Materials in a report on Wednesday, August 31st. Finally, DA Davidson reiterated a “hold” rating and issued 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, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. Vulcan Materials has a consensus rating of “Hold” and a consensus price target of $130.70.
In other news, insider David J. Grayson sold 2,121 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $118.49, for a total transaction of $251,317.29. Following the completion of the transaction, the insider now directly owns 16,648 shares of the company’s stock, valued at $1,972,621.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.92% of the company’s stock.
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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