Patten Group Inc. Has $2.44 Million Holdings in Vulcan Materials Company $VMC

Patten Group Inc. lessened its stake in shares of Vulcan Materials Company (NYSE:VMC) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,343 shares of the construction company’s stock after selling 218 shares during the period. Patten Group Inc.’s holdings in Vulcan Materials were worth $2,437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Exencial Wealth Advisors LLC acquired a new stake in Vulcan Materials during the 2nd quarter worth about $672,000. DekaBank Deutsche Girozentrale raised its holdings in Vulcan Materials by 0.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,385 shares of the construction company’s stock worth $5,623,000 after buying an additional 161 shares during the period. Drive Wealth Management LLC acquired a new stake in Vulcan Materials during the 2nd quarter worth about $216,000. Salomon & Ludwin LLC raised its holdings in Vulcan Materials by 22.0% during the 2nd quarter. Salomon & Ludwin LLC now owns 388 shares of the construction company’s stock worth $103,000 after buying an additional 70 shares during the period. Finally, Koshinski Asset Management Inc. raised its holdings in Vulcan Materials by 16.1% during the 2nd quarter. Koshinski Asset Management Inc. now owns 1,575 shares of the construction company’s stock worth $411,000 after buying an additional 218 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Insider Buying and Selling

In related news, SVP David P. Clement sold 698 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $298.56, for a total value of $208,394.88. Following the transaction, the senior vice president owned 2,832 shares in the company, valued at approximately $845,521.92. This represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VMC. Royal Bank Of Canada cut their price objective on Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating on the stock in a report on Friday, August 1st. Citigroup reiterated a “buy” rating and issued a $321.00 target price (up previously from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Morgan Stanley dropped their target price on Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating on the stock in a report on Monday, July 28th. Barclays upped their target price on Vulcan Materials from $305.00 to $320.00 and gave the company an “overweight” rating in a report on Monday. Finally, Wells Fargo & Company upgraded Vulcan Materials to a “hold” rating in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Vulcan Materials currently has an average rating of “Moderate Buy” and an average target price of $313.17.

Vulcan Materials Trading Up 0.9%

NYSE:VMC opened at $298.01 on Wednesday. The stock’s 50 day moving average price is $296.44 and its 200 day moving average price is $274.22. Vulcan Materials Company has a 52 week low of $215.08 and a 52 week high of $311.74. The company has a market capitalization of $39.37 billion, a P/E ratio of 41.62, a P/E/G ratio of 2.41 and a beta of 0.92. 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 (NYSE:VMC) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.45 EPS for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.20). Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the prior year, the company posted $2.35 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, research analysts forecast that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Monday, November 10th will be issued a $0.49 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. Vulcan Materials’s dividend payout ratio is currently 27.37%.

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.