Chicago Partners Investment Group LLC Cuts Stock Position in Vulcan Materials Company $VMC

Chicago Partners Investment Group LLC cut its holdings in Vulcan Materials Company (NYSE:VMC) by 8.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,403 shares of the construction company’s stock after selling 137 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Vulcan Materials were worth $378,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in VMC. ORG Partners LLC increased its position in shares of Vulcan Materials by 86.3% during the second quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. Concord Wealth Partners purchased a new stake in shares of Vulcan Materials during the second quarter worth approximately $33,000. Manchester Capital Management LLC increased its position in shares of Vulcan Materials by 26.9% during the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company’s stock worth $43,000 after purchasing an additional 39 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Vulcan Materials during the first quarter worth approximately $45,000. Finally, Steph & Co. purchased a new stake in shares of Vulcan Materials during the second quarter worth approximately $55,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Vulcan Materials

In other news, SVP David P. Clement sold 698 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $845,521.92. This represents a 19.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.62% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

VMC has been the subject of several research reports. JPMorgan Chase & Co. boosted their price target on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wells Fargo & Company upgraded Vulcan Materials to a “hold” rating in a research report on Wednesday, October 8th. Raymond James Financial boosted their price target on Vulcan Materials from $295.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday. Royal Bank Of Canada dropped their price target on Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating for the company in a research report on Friday, August 1st. Finally, Morgan Stanley dropped their price target on Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating for the company in a research report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $313.17.

Vulcan Materials Trading Down 0.5%

Shares of VMC stock opened at $292.06 on Friday. The company’s 50-day moving average price is $296.35 and its 200-day moving average price is $274.79. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The stock has a market cap of $38.59 billion, a price-to-earnings ratio of 40.79, a PEG ratio of 2.39 and a beta of 0.92. Vulcan Materials Company has a twelve month low of $215.08 and a twelve month high of $311.74.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.20). The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.23 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.35 EPS. As a group, equities analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Announces Dividend

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