John G Ullman & Associates Inc. cut its stake in Vulcan Materials Company (NYSE:VMC – Free Report) by 8.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 22,850 shares of the construction company’s stock after selling 1,984 shares during the period. John G Ullman & Associates Inc.’s holdings in Vulcan Materials were worth $6,222,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. NBT Bank N A NY acquired a new stake in Vulcan Materials during the fourth quarter worth about $26,000. Birchwood Financial Partners Inc. purchased a new stake in Vulcan Materials during the 4th quarter worth $29,000. Godsey & Gibb Inc. acquired a new position in shares of Vulcan Materials during the fourth quarter worth about $30,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Vulcan Materials in the third quarter valued at about $30,000. Finally, WPG Advisers LLC boosted its holdings in Vulcan Materials by 56.4% in the 4th quarter. WPG Advisers LLC now owns 122 shares of the construction company’s stock worth $35,000 after acquiring an additional 44 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.
Vulcan Materials Stock Down 1.6%
VMC stock opened at $288.64 on Friday. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. The firm has a 50 day simple moving average of $286.57 and a 200-day simple moving average of $290.97. The company has a market capitalization of $37.45 billion, a P/E ratio of 34.32, a PEG ratio of 2.13 and a beta of 1.05. Vulcan Materials Company has a twelve month low of $252.35 and a twelve month high of $331.09.
Vulcan Materials Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 13th. Vulcan Materials’s dividend payout ratio is 24.73%.
Insider Activity
In other news, SVP David P. Clement sold 2,212 shares of the stock in a transaction dated 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 owned 8,716 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.65% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on VMC. Berenberg Bank set a $283.00 price target on shares of Vulcan Materials and gave the company a “hold” rating in a report on Tuesday, June 2nd. Citigroup decreased their price objective on shares of Vulcan Materials from $365.00 to $355.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Weiss Ratings restated a “buy (b-)” rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. Barclays lifted their target price on Vulcan Materials from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Oppenheimer started coverage on Vulcan Materials in a research note on Thursday, May 28th. They issued a “market perform” rating on the stock. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $327.79.
Read Our Latest Stock Analysis on VMC
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.
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