Griffin Asset Management Inc. Reduces Holdings in Vulcan Materials Company $VMC

Griffin Asset Management Inc. reduced its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 6.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,483 shares of the construction company’s stock after selling 420 shares during the quarter. Griffin Asset Management Inc.’s holdings in Vulcan Materials were worth $1,691,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in VMC. Brighton Jones LLC purchased a new position in Vulcan Materials during the 4th quarter valued at about $497,000. GAMMA Investing LLC boosted its stake in shares of Vulcan Materials by 27.2% during the 1st quarter. GAMMA Investing LLC now owns 1,706 shares of the construction company’s stock worth $398,000 after purchasing an additional 365 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Vulcan Materials by 16.6% during the 1st quarter. Fifth Third Bancorp now owns 4,676 shares of the construction company’s stock worth $1,091,000 after purchasing an additional 666 shares during the last quarter. Azzad Asset Management Inc. ADV acquired a new stake in shares of Vulcan Materials during the 1st quarter worth about $1,176,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Vulcan Materials by 42.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,798 shares of the construction company’s stock worth $3,686,000 after purchasing an additional 4,678 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on VMC shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vulcan Materials in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of Vulcan Materials from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. Barclays raised their price target on shares of Vulcan Materials from $285.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Citigroup reaffirmed a “buy” rating and set a $321.00 price target (up from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Finally, Royal Bank Of Canada decreased their price target on shares of Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating on the stock in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $308.58.

Vulcan Materials Price Performance

VMC opened at $301.48 on Monday. The company’s 50 day simple moving average is $294.29 and its 200 day simple moving average is $271.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67. Vulcan Materials Company has a 1 year low of $215.08 and a 1 year high of $309.17. The stock has a market capitalization of $39.83 billion, a PE ratio of 42.11, a P/E/G ratio of 2.46 and a beta of 0.92.

Vulcan Materials (NYSE:VMC) last released its earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share (EPS) 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 company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the business posted $2.35 earnings per share. Vulcan Materials’s revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts expect that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Monday, November 10th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, November 10th. Vulcan Materials’s payout ratio is 27.37%.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of Vulcan Materials stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $298.56, for a total transaction of $208,394.88. Following the transaction, the senior vice president directly owned 2,832 shares of the company’s stock, valued at $845,521.92. The trade was a 19.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.61% of the stock is currently owned by company insiders.

Vulcan Materials 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.