Gabelli Funds LLC lessened its stake in Vulcan Materials Company (NYSE:VMC – Free Report) by 6.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,496 shares of the construction company’s stock after selling 2,396 shares during the period. Gabelli Funds LLC’s holdings in Vulcan Materials were worth $9,938,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. NBT Bank N A NY bought a new position in Vulcan Materials in the 4th quarter valued at $26,000. Meeder Asset Management Inc. increased its stake in shares of 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 buying an additional 43 shares during the period. Birchwood Financial Partners Inc. bought a new stake in shares of Vulcan Materials during the fourth quarter worth $29,000. Godsey & Gibb Inc. bought a new stake in shares of Vulcan Materials during the fourth quarter worth $30,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in shares of Vulcan Materials during the third quarter valued at $30,000. Institutional investors and hedge funds own 90.39% of the company’s stock.
Vulcan Materials Stock Up 0.2%
Shares of Vulcan Materials stock opened at $280.20 on Monday. The business has a fifty day simple moving average of $286.78 and a 200 day simple moving average of $290.55. The stock has a market cap of $36.36 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.05. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.51. Vulcan Materials Company has a 12 month low of $252.35 and a 12 month high of $331.09.
Vulcan Materials Announces Dividend
The business also recently declared 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. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. Vulcan Materials’s dividend payout ratio is 24.73%.
Analysts Set New Price Targets
Several research firms recently issued reports on VMC. Barclays raised their price target on Vulcan Materials from $296.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Wells Fargo & Company cut their target price on shares of Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of Vulcan Materials in a research note on Wednesday, July 15th. Stephens raised their target price on shares of Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, 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 research report on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $327.79.
View Our Latest Stock Report on VMC
Insider Buying and Selling at Vulcan Materials
In related news, SVP David P. Clement sold 2,212 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $292.29, for a total value of $646,545.48. Following the sale, the senior vice president directly owned 8,716 shares in the company, valued at $2,547,599.64. This trade represents a 20.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.65% of the stock is owned by corporate insiders.
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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