Envestnet Asset Management Inc. Cuts Stake in Vulcan Materials (VMC)
Envestnet Asset Management Inc. cut its position in Vulcan Materials (NYSE:VMC) by 2.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,909 shares of the construction company’s stock after selling 917 shares during the period. Envestnet Asset Management Inc.’s holdings in Vulcan Materials were worth $3,696,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Korea Investment CORP grew its holdings in Vulcan Materials by 140.5% during the second quarter. Korea Investment CORP now owns 1,229 shares of the construction company’s stock worth $156,000 after acquiring an additional 718 shares during the period. IFP Advisors Inc grew its holdings in Vulcan Materials by 3.9% during the second quarter. IFP Advisors Inc now owns 2,669 shares of the construction company’s stock worth $338,000 after acquiring an additional 101 shares during the period. Advisor Partners LLC acquired a new stake in Vulcan Materials during the second quarter worth about $204,000. Global X Management Co. LLC grew its holdings in Vulcan Materials by 27.0% during the second quarter. Global X Management Co. LLC now owns 5,975 shares of the construction company’s stock worth $757,000 after acquiring an additional 1,271 shares during the period. Finally, Wetherby Asset Management Inc. acquired a new stake in Vulcan Materials during the second quarter worth about $203,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.
In other news, 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 value of $115,316.55. Following the transaction, the insider now owns 23,871 shares in the company, valued at $2,806,036.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.89% of the company’s stock.
Several analysts recently commented on VMC shares. Jefferies Group reaffirmed a “hold” rating and set a $122.00 target price on shares of Vulcan Materials in a report on Friday, October 13th. Bank of America lowered their price target on Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating on the stock in a research report on Thursday, October 19th. Citigroup reiterated a “buy” rating and set a $140.00 price target (down previously from $145.00) on shares of Vulcan Materials in a research report on Monday, October 9th. Royal Bank of Canada reiterated a “buy” rating and set a $154.00 price target on shares of Vulcan Materials in a research report on Tuesday, October 10th. Finally, Zacks Investment Research upgraded Vulcan Materials from a “strong sell” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Vulcan Materials presently has a consensus rating of “Hold” and an average price target of $140.00.
Vulcan Materials (VMC) traded down $2.96 during midday trading on Tuesday, hitting $122.92. The stock had a trading volume of 1,187,800 shares, compared to its average volume of 1,262,165. The stock has a market capitalization of $16,651.97, a P/E ratio of 42.38, a PEG ratio of 2.46 and a beta of 0.88. Vulcan Materials has a 1-year low of $108.95 and a 1-year high of $136.82. 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 (NYSE:VMC) last released its earnings results on Wednesday, November 1st. The construction company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.40 by ($0.36). The firm had revenue of $1.09 billion during 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 revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.01 EPS. research analysts forecast that Vulcan Materials will post 3.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd were given a $0.25 dividend. The ex-dividend date was Tuesday, November 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.81%. Vulcan Materials’s dividend payout ratio (DPR) is presently 34.97%.
Vulcan Materials 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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