Vulcan Materials Company (VMC) Shares Sold by Jennison Associates LLC
Jennison Associates LLC reduced its position in shares of Vulcan Materials Company (NYSE:VMC) by 1.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 582,521 shares of the construction company’s stock after selling 11,528 shares during the period. Jennison Associates LLC owned 0.44% of Vulcan Materials worth $73,794,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in VMC. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Vulcan Materials during the first quarter worth $105,000. NN Investment Partners Holdings N.V. boosted its position 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 worth $126,000 after buying an additional 200 shares in the last quarter. Alexandria Capital LLC boosted its position 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 worth $148,000 after buying an additional 300 shares in the last quarter. Korea Investment CORP boosted its position 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 worth $156,000 after buying an additional 718 shares in the last quarter. Finally, NEXT Financial Group Inc boosted its position 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 worth $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.
Shares of Vulcan Materials Company (NYSE VMC) opened at 112.57 on Tuesday. The company’s 50 day moving average price is $122.18 and its 200-day moving average price is $122.90. Vulcan Materials Company has a 1-year low of $105.71 and a 1-year high of $138.18. The firm has a market cap of $14.89 billion, a price-to-earnings ratio of 36.24 and a beta of 0.93.
Vulcan Materials (NYSE:VMC) last issued 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 business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the business posted $0.90 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts expect that Vulcan Materials Company will post $3.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders 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 0.89%. The ex-dividend date is Monday, August 21st. Vulcan Materials’s payout ratio is 32.36%.
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A number of brokerages have recently weighed in on VMC. Zacks Investment Research upgraded Vulcan Materials from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research report on Tuesday, June 20th. BidaskClub cut Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Jefferies Group LLC set a $114.00 price target on Vulcan Materials and gave the company a “hold” rating in a research report on Tuesday. Stephens upgraded Vulcan Materials from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $140.00 to $145.00 in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $154.00 price target on shares of Vulcan Materials in a research report on Monday, June 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $136.00.
In other news, insider Stanley G. Bass sold 4,413 shares of Vulcan Materials 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 transaction, the insider now directly owns 21,939 shares of the company’s stock, valued at approximately $2,895,948. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ejaz A. Khan sold 2,024 shares of Vulcan Materials stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $125.30, for a total value of $253,607.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,743 shares of company stock worth $876,515. 0.89% of the stock is owned by corporate insiders.
Vulcan Materials Company Profile
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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