Vulcan Materials Company (NYSE:VMC) Position Reduced by Arrow Financial Corp
Arrow Financial Corp cut its stake in shares of Vulcan Materials Company (NYSE:VMC) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in VMC. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Vulcan Materials during the first quarter valued at about $105,000. NN Investment Partners Holdings N.V. increased 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 in the last quarter. Alexandria Capital LLC increased 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 in the last quarter. Korea Investment CORP increased 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 in the last quarter. Finally, NEXT Financial Group Inc increased 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 in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.
Vulcan Materials Company (NYSE:VMC) traded down 0.12% during mid-day trading on Friday, hitting $113.97. 922,633 shares of the stock were exchanged. Vulcan Materials Company has a 52 week low of $105.71 and a 52 week high of $138.18. The company has a market capitalization of $15.08 billion, a PE ratio of 36.69 and a beta of 0.93. The stock’s 50-day moving average is $122.58 and its 200 day moving average is $123.09.
Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by $0.32. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company posted $0.90 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts anticipate that Vulcan Materials Company will post $3.46 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 23rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Monday, August 21st. Vulcan Materials’s dividend payout ratio is currently 32.36%.
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Several brokerages have recently issued reports on VMC. Zacks Investment Research downgraded shares of Vulcan Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $154.00 target price on shares of Vulcan Materials in a research report on Monday, June 19th. Citigroup Inc. reaffirmed a “buy” rating on shares of Vulcan Materials in a research report on Thursday, May 11th. BidaskClub downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Stephens raised shares of Vulcan Materials from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $140.00 to $145.00 in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Vulcan Materials currently has a consensus rating of “Hold” and a consensus target price of $139.67.
In other Vulcan Materials news, VP Ejaz A. Khan sold 2,024 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $125.30, for a total transaction of $253,607.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stanley G. Bass sold 4,413 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $132.00, for a total transaction of $582,516.00. Following the transaction, the insider now owns 21,939 shares in the company, valued at $2,895,948. The disclosure for this sale can be found here. Insiders sold 6,743 shares of company stock worth $876,515 over the last ninety days. 0.89% of the stock is currently owned by 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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