Vulcan Materials Company (VMC) Shares Sold by Veritable L.P.
Veritable L.P. lowered its position in shares of Vulcan Materials Company (NYSE:VMC) by 6.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,054 shares of the construction company’s stock after selling 206 shares during the quarter. Veritable L.P.’s holdings in Vulcan Materials were worth $387,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. NN Investment Partners Holdings N.V. grew its holdings in Vulcan Materials by 25.2% during the second quarter. NN Investment Partners Holdings N.V. now owns 994 shares of the construction company’s stock worth $126,000 after acquiring an additional 200 shares during the period. Korea Investment CORP raised its position in 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 acquiring an additional 718 shares in the last quarter. Schroder Investment Management Group bought a new stake in Vulcan Materials in the second quarter worth about $187,000. Wetherby Asset Management Inc. bought a new stake in Vulcan Materials in the second quarter worth about $203,000. Finally, NEXT Financial Group Inc raised its position in Vulcan Materials by 6.9% in the second quarter. NEXT Financial Group Inc now owns 1,600 shares of the construction company’s stock worth $203,000 after acquiring an additional 103 shares in the last quarter. 87.13% of the stock is owned by institutional investors and hedge funds.
Vulcan Materials Company (NYSE:VMC) opened at 119.71 on Wednesday. Vulcan Materials Company has a 52 week low of $105.71 and a 52 week high of $138.18. The stock has a market cap of $15.83 billion, a PE ratio of 38.54 and a beta of 0.87. The company has a 50-day moving average price of $117.03 and a 200-day moving average price of $122.22.
Vulcan Materials (NYSE:VMC) last released 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). Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company posted $0.90 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts anticipate that Vulcan Materials Company will post $3.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Wednesday, August 23rd were issued 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 was Monday, August 21st. Vulcan Materials’s dividend payout ratio (DPR) is currently 32.36%.
Several equities analysts have recently weighed in on VMC shares. Zacks Investment Research lowered shares of Vulcan Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Jefferies Group LLC set a $114.00 price objective on shares of Vulcan Materials and gave the stock a “hold” rating in a research note on Tuesday, August 22nd. Stephens upgraded shares of Vulcan Materials from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $140.00 to $145.00 in a report on Thursday, August 3rd. BidaskClub upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $154.00 target price on shares of Vulcan Materials in a report on Monday, June 19th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $136.00.
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In other news, insider Michael R. Mills sold 981 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $117.55, for a total value of $115,316.55. Following the completion of the sale, the insider now directly owns 23,871 shares of the company’s stock, valued at approximately $2,806,036.05. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David B. Pasley sold 1,250 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $121.51, for a total value of $151,887.50. Following the completion of the sale, the insider now directly owns 2,857 shares of the company’s stock, valued at $347,154.07. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.
Vulcan Materials 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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