Bank of New York Mellon Corp cut its holdings in Vulcan Materials Company (NYSE:VMC) by 5.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,466,314 shares of the construction company’s stock after selling 151,393 shares during the period. Bank of New York Mellon Corp owned approximately 1.86% of Vulcan Materials worth $294,972,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of VMC. Bank of Montreal Can raised its position in shares of Vulcan Materials by 18.3% in the 2nd quarter. Bank of Montreal Can now owns 43,307 shares of the construction company’s stock worth $5,485,000 after acquiring an additional 6,685 shares in the last quarter. NN Investment Partners Holdings N.V. grew its stake in shares of Vulcan Materials by 25.2% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 994 shares of the construction company’s stock valued at $126,000 after buying an additional 200 shares during the period. Creative Planning grew its stake in shares of Vulcan Materials by 16.2% in the 2nd quarter. Creative Planning now owns 1,765 shares of the construction company’s stock valued at $224,000 after buying an additional 246 shares during the period. LS Investment Advisors LLC grew its stake in shares of Vulcan Materials by 3.6% in the 2nd quarter. LS Investment Advisors LLC now owns 5,068 shares of the construction company’s stock valued at $642,000 after buying an additional 176 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in shares of Vulcan Materials by 1.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the construction company’s stock valued at $1,039,000 after buying an additional 100 shares during the period. 87.40% of the stock is owned by hedge funds and other institutional investors.
Shares of Vulcan Materials Company (VMC) traded up $1.02 during midday trading on Friday, hitting $124.87. The stock had a trading volume of 66,972 shares, compared to its average volume of 1,268,701. Vulcan Materials Company has a 12-month low of $108.95 and a 12-month high of $136.82. The stock has a market cap of $16,380.00, a P/E ratio of 40.93, a PEG ratio of 2.37 and a beta of 0.86. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.22 and a quick ratio of 3.34.
Vulcan Materials (NYSE:VMC) last announced its earnings results on Wednesday, November 1st. The construction company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.36). Vulcan Materials had a return on equity of 8.71% and a net margin of 10.20%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm earned $1.01 EPS. Vulcan Materials’s quarterly revenue was up 8.6% on a year-over-year basis. research analysts expect that Vulcan Materials Company will post 3.04 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.80%. Vulcan Materials’s payout ratio is presently 34.13%.
In related news, insider David B. Pasley sold 1,250 shares of Vulcan Materials stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $121.51, for a total value of $151,887.50. Following the sale, the insider now owns 2,857 shares of the company’s stock, valued at approximately $347,154.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael R. Mills sold 981 shares of Vulcan Materials stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $117.55, for a total transaction of $115,316.55. Following the completion of the sale, the insider now directly owns 23,871 shares in the company, valued at approximately $2,806,036.05. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.
Several analysts have recently commented on VMC shares. Royal Bank Of Canada restated a “buy” rating and issued a $154.00 target price on shares of Vulcan Materials in a research note on Tuesday, October 10th. Citigroup Inc. restated a “buy” rating and issued a $140.00 target price (down from $145.00) on shares of Vulcan Materials in a research note on Monday, October 9th. Jefferies Group LLC set a $114.00 target price on Vulcan Materials and gave the company a “hold” rating in a research note on Tuesday, August 22nd. Zacks Investment Research downgraded Vulcan Materials from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, Bank of America Corporation cut their price target on Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating for the company in a research note on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $140.00.
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Vulcan Materials Company Profile
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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