Vulcan Materials Company $VMC Shares Sold by Korea Investment CORP

Korea Investment CORP cut its position in shares of Vulcan Materials Company (NYSE:VMC) by 40.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,846 shares of the construction company’s stock after selling 39,904 shares during the period. Korea Investment CORP’s holdings in Vulcan Materials were worth $13,729,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Vulcan Materials during the 1st quarter worth about $27,000. Kapitalo Investimentos Ltda acquired a new position in Vulcan Materials in the 4th quarter worth about $35,000. Fourth Dimension Wealth LLC purchased a new position in Vulcan Materials during the fourth quarter worth approximately $46,000. Manchester Capital Management LLC boosted its position in Vulcan Materials by 26.9% during the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company’s stock worth $43,000 after purchasing an additional 39 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in Vulcan Materials in the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Vulcan Materials stock opened at $288.32 on Friday. The company has a fifty day simple moving average of $271.73 and a 200-day simple moving average of $259.05. The firm has a market capitalization of $38.09 billion, a price-to-earnings ratio of 40.27, a PEG ratio of 2.34 and a beta of 0.83. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $298.31.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.20). Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the prior year, the business posted $2.35 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts anticipate that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th will be given a $0.49 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.7%. Vulcan Materials’s dividend payout ratio is 27.37%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Argus raised Vulcan Materials to a “strong-buy” rating in a research note on Thursday, April 24th. UBS Group raised shares of Vulcan Materials from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $280.00 to $318.00 in a report on Friday, May 16th. Royal Bank Of Canada decreased their price objective on shares of Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating on the stock in a report on Friday, August 1st. Raymond James Financial dropped their target price on shares of Vulcan Materials from $300.00 to $295.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 29th. Finally, Morgan Stanley cut their target price on shares of Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating for the company in a research note on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $304.27.

Vulcan Materials Company Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in 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.