Vulcan Materials (VMC) Position Reduced by Kentucky Retirement Systems
Kentucky Retirement Systems decreased its stake in Vulcan Materials (NYSE:VMC) by 46.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,744 shares of the construction company’s stock after selling 4,988 shares during the quarter. Kentucky Retirement Systems’ holdings in Vulcan Materials were worth $568,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in VMC. American International Group Inc. lifted its position in Vulcan Materials by 5.4% in the 3rd quarter. American International Group Inc. now owns 57,655 shares of the construction company’s stock worth $6,411,000 after buying an additional 2,928 shares in the last quarter. Credit Suisse AG raised its holdings in shares of Vulcan Materials by 8.2% during the 3rd quarter. Credit Suisse AG now owns 138,657 shares of the construction company’s stock valued at $15,419,000 after purchasing an additional 10,489 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Vulcan Materials by 10.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,022,067 shares of the construction company’s stock valued at $113,668,000 after purchasing an additional 99,925 shares in the last quarter. Baird Financial Group Inc. bought a new position in shares of Vulcan Materials during the 3rd quarter valued at $222,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Vulcan Materials by 87.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,223 shares of the construction company’s stock valued at $6,265,000 after purchasing an additional 26,162 shares in the last quarter. Institutional investors own 95.81% of the company’s stock.
In related news, insider David P. Clement sold 2,789 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $114.28, for a total value of $318,726.92. Following the transaction, the insider now directly owns 4,340 shares in the company, valued at approximately $495,975.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.79% of the company’s stock.
Vulcan Materials (NYSE:VMC) last posted its earnings results on Thursday, February 14th. The construction company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. Vulcan Materials had a net margin of 11.77% and a return on equity of 10.71%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the business posted $0.74 EPS. Vulcan Materials’s revenue was up 11.3% compared to the same quarter last year. Research analysts forecast that Vulcan Materials will post 4.78 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 22nd were paid a $0.31 dividend. The ex-dividend date of this dividend was Thursday, February 21st. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 1.03%. Vulcan Materials’s dividend payout ratio (DPR) is presently 30.62%.
A number of research analysts have recently weighed in on the stock. Nomura upgraded shares of Vulcan Materials from a “neutral” rating to a “buy” rating and raised their price target for the company from $100.00 to $140.00 in a report on Thursday, December 6th. JPMorgan Chase & Co. assumed coverage on shares of Vulcan Materials in a report on Thursday, March 21st. They set an “overweight” rating and a $135.00 price target on the stock. Jefferies Financial Group raised their price target on shares of Vulcan Materials to $133.00 and gave the company a “buy” rating in a report on Friday, February 15th. Zacks Investment Research upgraded shares of Vulcan Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 18th. Finally, Citigroup cut their price target on shares of Vulcan Materials from $128.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, January 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $124.00.
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Vulcan Materials Profile
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.
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