Sterling Capital Management LLC Lowers Stake in Vulcan Materials Company $VMC

Sterling Capital Management LLC cut its position in Vulcan Materials Company (NYSE:VMC) by 70.8% in the first quarter, HoldingsChannel.com reports. The firm owned 4,446 shares of the construction company’s stock after selling 10,787 shares during the quarter. Sterling Capital Management LLC’s holdings in Vulcan Materials were worth $1,211,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of VMC. Venturi Wealth Management LLC purchased a new position in shares of Vulcan Materials during the 1st quarter valued at $748,000. Meyer Handelman Co. boosted its holdings in Vulcan Materials by 22.6% in the 1st quarter. Meyer Handelman Co. now owns 2,121 shares of the construction company’s stock worth $578,000 after buying an additional 391 shares during the period. Louisiana State Employees Retirement System purchased a new stake in Vulcan Materials in the 1st quarter worth $1,824,000. Kestra Private Wealth Services LLC increased its stake in Vulcan Materials by 164.0% in the 1st quarter. Kestra Private Wealth Services LLC now owns 2,730 shares of the construction company’s stock worth $743,000 after buying an additional 1,696 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new stake in Vulcan Materials in the 1st quarter worth $203,000. 90.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VMC. Zacks Research upgraded Vulcan Materials from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 9th. Royal Bank Of Canada increased their target price on Vulcan Materials from $296.00 to $298.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 target price (down from $335.00) on shares of Vulcan Materials in a research note on Wednesday, March 4th. Stifel Nicolaus set a $333.00 price target on Vulcan Materials in a report on Thursday, April 30th. Finally, Barclays upped their price target on Vulcan Materials from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $326.92.

Insider Activity at Vulcan Materials

In related news, SVP David P. Clement sold 2,212 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $292.29, for a total value of $646,545.48. Following the completion of the transaction, the senior vice president owned 8,716 shares of the company’s stock, valued at approximately $2,547,599.64. This trade represents a 20.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.65% of the company’s stock.

Vulcan Materials Stock Down 2.5%

NYSE VMC opened at $303.50 on Tuesday. The stock has a 50 day moving average price of $285.90 and a 200-day moving average price of $290.79. Vulcan Materials Company has a one year low of $252.35 and a one year high of $331.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.59. The company has a market capitalization of $39.38 billion, a P/E ratio of 36.09, a P/E/G ratio of 2.25 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.25. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the business posted $1.00 earnings per share. Vulcan Materials’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities analysts predict that Vulcan Materials Company will post 9.28 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. Vulcan Materials’s dividend payout ratio (DPR) is presently 24.73%.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.