Arrow Financial Corp Sells 794 Shares of Vulcan Materials Company (NYSE:VMC)
Arrow Financial Corp decreased its stake in shares of Vulcan Materials Company (NYSE:VMC) by 5.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,449 shares of the construction company’s stock after selling 794 shares during the period. Arrow Financial Corp’s holdings in Vulcan Materials were worth $1,830,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the stock. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Vulcan Materials during the first quarter valued at approximately $105,000. NN Investment Partners Holdings N.V. raised its stake in shares of Vulcan Materials by 25.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 994 shares of the construction company’s stock valued at $126,000 after buying an additional 200 shares during the last quarter. Alexandria Capital LLC raised its stake in shares of Vulcan Materials by 32.3% in the first quarter. Alexandria Capital LLC now owns 1,230 shares of the construction company’s stock valued at $148,000 after buying an additional 300 shares during the last quarter. Korea Investment CORP raised its stake in shares of Vulcan Materials by 140.5% in the second quarter. Korea Investment CORP now owns 1,229 shares of the construction company’s stock valued at $156,000 after buying an additional 718 shares during the last quarter. Finally, NEXT Financial Group Inc raised its stake in shares of Vulcan Materials by 405.7% in the first quarter. NEXT Financial Group Inc now owns 1,497 shares of the construction company’s stock valued at $181,000 after buying an additional 1,201 shares during the last quarter. 85.60% of the stock is owned by hedge funds and other institutional investors.
Vulcan Materials Company (NYSE:VMC) opened at 118.39 on Wednesday. The firm has a market cap of $15.68 billion, a PE ratio of 38.12 and a beta of 0.93. The stock’s 50 day moving average is $126.55 and its 200 day moving average is $124.11. Vulcan Materials Company has a 12 month low of $105.71 and a 12 month high of $138.18.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by $0.32. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 EPS. On average, equities analysts forecast that Vulcan Materials Company will post $3.59 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 23rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Monday, August 21st. Vulcan Materials’s dividend payout ratio is presently 32.36%.
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Several brokerages recently commented on VMC. Zacks Investment Research raised shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Tuesday, June 20th. BidaskClub cut shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Stephens raised shares of Vulcan Materials from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $140.00 to $145.00 in a research note on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $154.00 target price on shares of Vulcan Materials in a research note on Monday, June 19th. Finally, Argus lifted their target price on shares of Vulcan Materials from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $139.67.
In other Vulcan Materials news, insider Stanley G. Bass sold 4,413 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $132.00, for a total value of $582,516.00. Following the sale, the insider now directly owns 21,939 shares of the company’s stock, valued at approximately $2,895,948. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Jerry F. Perkins, Jr. sold 306 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $132.00, for a total value of $40,392.00. Following the completion of the sale, the general counsel now directly owns 5,292 shares in the company, valued at $698,544. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,743 shares of company stock valued at $876,515. 0.89% of the stock is currently owned by company insiders.
About Vulcan Materials
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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