Private Advisor Group LLC Cuts Stake in Vulcan Materials (VMC)
Private Advisor Group LLC lessened its holdings in Vulcan Materials (NYSE:VMC) by 23.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,252 shares of the construction company’s stock after selling 680 shares during the quarter. Private Advisor Group LLC’s holdings in Vulcan Materials were worth $271,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Sun Life Financial INC raised its position in Vulcan Materials by 10,666.7% during the second quarter. Sun Life Financial INC now owns 969 shares of the construction company’s stock worth $123,000 after acquiring an additional 960 shares in the last quarter. Korea Investment CORP raised its position 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 in the last quarter. Schroder Investment Management Group bought a new stake in Vulcan Materials during the second quarter worth $187,000. Wetherby Asset Management Inc. bought a new stake in Vulcan Materials during the second quarter worth $203,000. Finally, Jaffetilchin Investment Partners LLC bought a new stake in Vulcan Materials during the second quarter worth $204,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on VMC. Jefferies Group upped their price target on shares of Vulcan Materials from $122.00 to $128.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. Zacks Investment Research raised shares of Vulcan Materials from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Barclays began coverage on shares of Vulcan Materials in a research report on Tuesday. They set an “overweight” rating and a $135.00 price target on the stock. Citigroup reaffirmed a “buy” rating and set a $140.00 price target (down from $145.00) on shares of Vulcan Materials in a research report on Monday, October 9th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $154.00 price target on shares of Vulcan Materials in a research report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $139.29.
Vulcan Materials (NYSE:VMC) traded up $1.60 during trading hours on Thursday, hitting $123.11. 1,472,500 shares of the company’s stock traded hands, compared to its average volume of 1,262,890. Vulcan Materials has a 12-month low of $108.95 and a 12-month high of $136.82. The firm has a market capitalization of $15,920.00, a P/E ratio of 40.91, a P/E/G ratio of 2.37 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 (NYSE:VMC) last released its quarterly earnings data 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). Vulcan Materials had a net margin of 10.20% and a return on equity of 8.71%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm earned $1.01 earnings per share. Vulcan Materials’s revenue for the quarter was up 8.6% on a year-over-year basis. equities research analysts expect that Vulcan Materials will post 3.04 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Wednesday, November 22nd were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.81%. Vulcan Materials’s dividend payout ratio is currently 34.13%.
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About Vulcan Materials
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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