London Co. of Virginia trimmed its holdings in Vulcan Materials Company (NYSE:VMC – Free Report) by 9.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 584,971 shares of the construction company’s stock after selling 61,595 shares during the quarter. London Co. of Virginia’s holdings in Vulcan Materials were worth $159,289,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in VMC. NBT Bank N A NY purchased a new position in Vulcan Materials in the fourth quarter worth $26,000. Meeder Asset Management Inc. raised its stake in Vulcan Materials by 71.7% in the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock valued at $28,000 after purchasing an additional 43 shares during the last quarter. Birchwood Financial Partners Inc. acquired a new stake in Vulcan Materials in the 4th quarter worth about $29,000. Godsey & Gibb Inc. acquired a new stake in shares of Vulcan Materials during the 4th quarter worth $30,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Vulcan Materials during the third quarter worth about $30,000. Institutional investors and hedge funds own 90.39% of the company’s stock.
Insider Activity
In related news, SVP David P. Clement sold 2,212 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $292.29, for a total transaction of $646,545.48. Following the sale, the senior vice president owned 8,716 shares in the company, valued at approximately $2,547,599.64. This represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.65% of the company’s stock.
Vulcan Materials Stock Up 1.9%
Vulcan Materials (NYSE:VMC – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.64 billion. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 earnings per share. As a group, equities analysts expect that Vulcan Materials Company will post 9.3 earnings per share for the current year.
Vulcan Materials Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, August 13th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, August 13th. This represents a $2.08 annualized dividend and a yield of 0.7%. Vulcan Materials’s dividend payout ratio is presently 24.73%.
Wall Street Analysts Forecast Growth
VMC has been the topic of several recent analyst reports. Wells Fargo & Company cut their price target on Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Wall Street Zen downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Stephens increased their target price on shares of Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vulcan Materials in a report on Tuesday, July 7th. Finally, Stifel Nicolaus set a $333.00 target price on shares of Vulcan Materials in a report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Vulcan Materials has an average rating of “Moderate Buy” and an average price target of $327.79.
Get Our Latest Report on Vulcan Materials
Vulcan Materials Profile
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.
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