PNC Financial Services Group Inc. Sells 6,735 Shares of Vulcan Materials Company $VMC

PNC Financial Services Group Inc. cut its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 11.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,511 shares of the construction company’s stock after selling 6,735 shares during the period. PNC Financial Services Group Inc.’s holdings in Vulcan Materials were worth $14,026,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Andra AP fonden purchased a new position in Vulcan Materials in the 1st quarter worth about $10,899,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Vulcan Materials during the 1st quarter valued at about $132,000. Meeder Asset Management Inc. boosted its holdings in shares of Vulcan Materials by 71.7% during the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock valued at $28,000 after acquiring an additional 43 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Vulcan Materials by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,346,422 shares of the construction company’s stock worth $366,592,000 after acquiring an additional 24,187 shares during the period. Finally, SEB Asset Management AB bought a new stake in shares of Vulcan Materials in the first quarter worth approximately $7,397,000. 90.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 2,212 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $292.29, for a total transaction of $646,545.48. Following the completion of the sale, the senior vice president owned 8,716 shares of the company’s stock, valued at $2,547,599.64. The trade was a 20.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.65% of the stock is owned by corporate insiders.

Vulcan Materials Price Performance

Shares of NYSE:VMC opened at $280.20 on Friday. The firm’s 50 day moving average price is $286.78 and its 200-day moving average price is $290.59. Vulcan Materials Company has a twelve month low of $252.35 and a twelve month high of $331.09. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $36.36 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.25. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.64 billion. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 earnings per share. Equities research analysts expect that Vulcan Materials Company will post 9.3 EPS for the current year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 13th. Vulcan Materials’s dividend payout ratio (DPR) is currently 24.73%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VMC. Wall Street Zen downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Stifel Nicolaus set a $333.00 target price on shares of Vulcan Materials in a research report on Thursday, April 30th. UBS Group decreased their target price on shares of Vulcan Materials from $350.00 to $349.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Oppenheimer initiated coverage on Vulcan Materials in a report on Thursday, May 28th. They set a “market perform” rating on the stock. Finally, Zacks Research upgraded Vulcan Materials from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 9th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Vulcan Materials currently has an average rating of “Moderate Buy” and a consensus target price of $327.79.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.