Gateway Investment Advisers LLC lessened its holdings in Vulcan Materials (NYSE:VMC) by 71.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,516 shares of the construction company’s stock after selling 3,768 shares during the period. Gateway Investment Advisers LLC’s holdings in Vulcan Materials were worth $229,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. NuWave Investment Management LLC lifted its position in shares of Vulcan Materials by 809.5% in the 2nd quarter. NuWave Investment Management LLC now owns 191 shares of the construction company’s stock worth $26,000 after purchasing an additional 170 shares during the period. Coastal Investment Advisors Inc. lifted its position in shares of Vulcan Materials by 1,550.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 198 shares of the construction company’s stock worth $27,000 after purchasing an additional 186 shares during the period. FinTrust Capital Advisors LLC lifted its position in shares of Vulcan Materials by 136.9% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 244 shares of the construction company’s stock worth $33,000 after purchasing an additional 141 shares during the period. CSat Investment Advisory L.P. lifted its position in shares of Vulcan Materials by 109.4% in the 2nd quarter. CSat Investment Advisory L.P. now owns 358 shares of the construction company’s stock worth $49,000 after purchasing an additional 187 shares during the period. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in shares of Vulcan Materials in the 2nd quarter worth approximately $71,000. 95.22% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently weighed in on VMC. Barclays upped their price target on shares of Vulcan Materials from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. increased their target price on shares of Vulcan Materials from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Nomura increased their target price on shares of Vulcan Materials from $165.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. SunTrust Banks increased their target price on shares of Vulcan Materials from $145.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, BNP Paribas began coverage on shares of Vulcan Materials in a research report on Wednesday, October 9th. They set an “underperform” rating for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $149.13.

In other Vulcan Materials news, insider Stanley G. Bass sold 2,184 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $149.93, for a total value of $327,447.12. Following the completion of the transaction, the insider now owns 35,263 shares of the company’s stock, valued at $5,286,981.59. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Stanley G. Bass sold 2,406 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $141.94, for a total transaction of $341,507.64. Following the completion of the transaction, the insider now directly owns 35,263 shares of the company’s stock, valued at approximately $5,005,230.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,797 shares of company stock valued at $1,511,865. Corporate insiders own 0.79% of the company’s stock.

NYSE:VMC opened at $146.04 on Monday. Vulcan Materials has a 52 week low of $82.52 and a 52 week high of $152.49. The firm has a 50 day moving average of $146.73 and a 200 day moving average of $135.55. The company has a quick ratio of 1.23, a current ratio of 1.89 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $19.54 billion, a price-to-earnings ratio of 36.06, a PEG ratio of 1.70 and a beta of 0.92.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Thursday, July 25th. The construction company reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.03. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Vulcan Materials had a net margin of 12.12% and a return on equity of 11.07%. Vulcan Materials’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.23 earnings per share. As a group, analysts expect that Vulcan Materials will post 4.87 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, November 19th will be issued a $0.31 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.85%. Vulcan Materials’s dividend payout ratio is currently 30.62%.

Vulcan Materials Profile

Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.

Further Reading: Understanding debt-to-equity ratio in fundamental analysis

Institutional Ownership by Quarter for Vulcan Materials (NYSE:VMC)

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