State of Tennessee Treasury Department Sells 25,186 Shares of Vulcan Materials Company (VMC)
State of Tennessee Treasury Department trimmed its position in shares of Vulcan Materials Company (NYSE:VMC) by 41.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,961 shares of the construction company’s stock after selling 25,186 shares during the period. State of Tennessee Treasury Department’s holdings in Vulcan Materials were worth $4,301,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in VMC. Sun Life Financial INC increased its stake in Vulcan Materials by 10,666.7% in the second quarter. Sun Life Financial INC now owns 969 shares of the construction company’s stock valued at $123,000 after purchasing an additional 960 shares during the last quarter. NN Investment Partners Holdings N.V. increased its stake in Vulcan Materials by 25.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 994 shares of the construction company’s stock valued at $126,000 after purchasing an additional 200 shares during the last quarter. Korea Investment CORP increased its stake in Vulcan Materials by 140.5% in the second quarter. Korea Investment CORP now owns 1,229 shares of the construction company’s stock valued at $156,000 after purchasing an additional 718 shares during the last quarter. Schroder Investment Management Group purchased a new position in Vulcan Materials in the second quarter valued at approximately $187,000. Finally, Wetherby Asset Management Inc. purchased a new position in Vulcan Materials in the second quarter valued at approximately $203,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.
In other news, insider David B. Pasley sold 1,250 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $121.51, for a total transaction of $151,887.50. Following the transaction, the insider now directly owns 2,857 shares in the company, valued at $347,154.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael R. Mills sold 981 shares of the firm’s 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 transaction, the insider now owns 23,871 shares in the company, valued at $2,806,036.05. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.
Vulcan Materials Company (NYSE VMC) opened at $121.56 on Thursday. The company has a current ratio of 4.22, a quick ratio of 3.34 and a debt-to-equity ratio of 0.60. The stock has a market cap of $16,392.70, a P/E ratio of 41.72, a PEG ratio of 2.42 and a beta of 0.86. Vulcan Materials Company has a 1 year low of $108.95 and a 1 year high of $136.82.
Vulcan Materials (NYSE:VMC) last announced its earnings results on Wednesday, November 1st. The construction company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 8.71% and a net margin of 10.20%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $1.01 earnings per share. research analysts predict that Vulcan Materials Company will post 3.04 EPS for the current 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 given a dividend of $0.25 per share. 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 0.82%. Vulcan Materials’s dividend payout ratio (DPR) is presently 34.97%.
Several brokerages have commented on VMC. Jefferies Group LLC increased their price target on shares of Vulcan Materials from $122.00 to $128.00 and gave the company a “hold” rating in a research note on Friday, November 3rd. Bank of America Corporation dropped their price target on shares of Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating on the stock in a research note on Thursday, October 19th. Royal Bank Of Canada reiterated a “buy” rating and issued a $154.00 price target on shares of Vulcan Materials in a research note on Tuesday, October 10th. Citigroup Inc. reiterated a “buy” rating and issued a $140.00 price target (down from $145.00) on shares of Vulcan Materials in a research note on Monday, October 9th. Finally, Zacks Investment Research lowered shares of Vulcan Materials from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Two investment 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 company has an average rating of “Hold” and a consensus price target of $140.00.
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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