Laffer Investments Decreases Stake in Vulcan Materials (VMC)

Laffer Investments lowered its position in shares of Vulcan Materials (NYSE:VMC) by 7.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 13,123 shares of the construction company’s stock after selling 1,010 shares during the quarter. Laffer Investments’ holdings in Vulcan Materials were worth $1,570,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Vulcan Materials by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 13,385,889 shares of the construction company’s stock worth $1,695,724,000 after acquiring an additional 346,085 shares during the period. JPMorgan Chase & Co. boosted its holdings in Vulcan Materials by 2.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,774,421 shares of the construction company’s stock worth $604,822,000 after acquiring an additional 127,405 shares during the period. Janus Henderson Group PLC boosted its holdings in Vulcan Materials by 4,985.8% in the 2nd quarter. Janus Henderson Group PLC now owns 4,209,593 shares of the construction company’s stock worth $533,271,000 after acquiring an additional 4,126,822 shares during the period. Bank of New York Mellon Corp boosted its holdings in Vulcan Materials by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,617,707 shares of the construction company’s stock worth $331,609,000 after acquiring an additional 58,520 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Vulcan Materials by 17.5% in the 3rd quarter. Wells Fargo & Company MN now owns 2,385,223 shares of the construction company’s stock worth $285,272,000 after acquiring an additional 354,498 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

A number of research firms have weighed in on VMC. Barclays began coverage on Vulcan Materials in a report on Tuesday. They issued an “overweight” rating and a $135.00 price target for the company. Zacks Investment Research upgraded Vulcan Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday. Jefferies Group upped their price target on Vulcan Materials from $122.00 to $128.00 and gave the stock a “hold” rating in a report on Friday, November 3rd. Bank of America decreased their price target on Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating for the company in a report on Thursday, October 19th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $154.00 price target on shares of Vulcan Materials in a report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $139.29.

Vulcan Materials (NYSE VMC) traded down $2.87 during trading on Friday, hitting $120.24. The stock had a trading volume of 1,229,200 shares, compared to its average volume of 1,262,750. The stock has a market cap of $16,285.54, a PE ratio of 41.45, a P/E/G ratio of 2.40 and a beta of 0.88. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.34 and a current ratio of 4.22. Vulcan Materials has a 12 month low of $108.95 and a 12 month high of $136.82.

Vulcan Materials (NYSE:VMC) last released its earnings results on Wednesday, November 1st. The construction company reported $1.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.36). The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Vulcan Materials had a net margin of 10.20% and a return on equity of 8.71%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 earnings per share. equities analysts forecast that Vulcan Materials will post 3.04 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Tuesday, November 21st. Vulcan Materials’s dividend payout ratio (DPR) is currently 34.97%.

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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).

Institutional Ownership by Quarter for Vulcan Materials (NYSE:VMC)

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