Pine Harbor Wealth Management LLC cut its stake in Vulcan Materials Company (NYSE:VMC – Free Report) by 65.4% in the first quarter, HoldingsChannel reports. The firm owned 1,345 shares of the construction company’s stock after selling 2,542 shares during the quarter. Pine Harbor Wealth Management LLC’s holdings in Vulcan Materials were worth $366,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Wealth Partners LLC purchased a new position in shares of Vulcan Materials in the 1st quarter valued at about $1,089,000. QRG Capital Management Inc. increased its stake in shares of Vulcan Materials by 6.8% during the first quarter. QRG Capital Management Inc. now owns 19,976 shares of the construction company’s stock worth $5,440,000 after buying an additional 1,276 shares during the period. 4WEALTH Advisors Inc. increased its stake in shares of Vulcan Materials by 3.2% during the first quarter. 4WEALTH Advisors Inc. now owns 1,261 shares of the construction company’s stock worth $337,000 after buying an additional 39 shares during the period. Leonteq Securities AG raised its holdings in Vulcan Materials by 1,385.7% in the first quarter. Leonteq Securities AG now owns 416 shares of the construction company’s stock valued at $113,000 after acquiring an additional 388 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Vulcan Materials by 261.1% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 16,043 shares of the construction company’s stock valued at $4,369,000 after acquiring an additional 11,600 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Citigroup lowered their price target on shares of Vulcan Materials from $365.00 to $355.00 and set a “buy” rating for the company in a report on Friday, May 1st. Stephens raised their price objective on shares of Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Stifel Nicolaus set a $333.00 price objective on shares of Vulcan Materials in a research report on Thursday, April 30th. Zacks Research upgraded shares of Vulcan Materials from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 9th. Finally, Berenberg Bank set a $283.00 target price on Vulcan Materials and gave the company a “hold” rating in a report on Tuesday, June 2nd. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Vulcan Materials currently has a consensus rating of “Hold” and a consensus target price of $326.54.
Vulcan Materials Stock Up 0.1%
Vulcan Materials stock opened at $303.45 on Friday. Vulcan Materials Company has a fifty-two week low of $252.35 and a fifty-two week high of $331.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.59. The company has a market capitalization of $39.38 billion, a P/E ratio of 36.08, a PEG ratio of 2.19 and a beta of 1.05. The stock has a 50-day simple moving average of $286.49 and a 200-day simple moving average of $290.89.
Vulcan Materials (NYSE:VMC – Get Free Report) last released its quarterly earnings results 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 firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.64 billion. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 EPS. Equities research analysts expect that Vulcan Materials Company will post 9.27 earnings per share for the current year.
Vulcan Materials Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, May 22nd. Vulcan Materials’s dividend payout ratio is presently 24.73%.
Insider Buying and Selling at Vulcan Materials
In other news, SVP David P. Clement sold 2,212 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president directly owned 8,716 shares in the company, valued at approximately $2,547,599.64. This trade represents a 20.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.65% of the company’s stock.
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.
Read More
- Five stocks we like better than Vulcan Materials
- These Stocks Could Win as Wall Street Looks Beyond AI Software
- D.R. Horton Is Defying the Housing Gloom
- Why Flywire and Airbnb Could Be Quiet Winners of a Ceasefire
- Broadcom and OpenAI Unveil Jalapeño: An Early Step to Massive AI Growth Potential
Want to see what other hedge funds are holding VMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vulcan Materials Company (NYSE:VMC – Free Report).
Receive News & Ratings for Vulcan Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vulcan Materials and related companies with MarketBeat.com's FREE daily email newsletter.
