Glenmede Trust Co. NA Reduces Stake in Vulcan Materials Company $VMC

Glenmede Trust Co. NA reduced its stake in shares of Vulcan Materials Company (NYSE:VMC) by 35.2% in the first quarter, Holdings Channel reports. The fund owned 7,428 shares of the construction company’s stock after selling 4,043 shares during the quarter. Glenmede Trust Co. NA’s holdings in Vulcan Materials were worth $2,023,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. NBT Bank N A NY bought a new position in Vulcan Materials during the fourth quarter valued at $26,000. Meeder Asset Management Inc. increased its holdings in Vulcan Materials by 71.7% in the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock worth $28,000 after acquiring an additional 43 shares during the last quarter. Birchwood Financial Partners Inc. purchased a new stake in Vulcan Materials in the 4th quarter worth about $29,000. Godsey & Gibb Inc. bought a new stake in Vulcan Materials in the 4th quarter valued at about $30,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in Vulcan Materials in the 3rd quarter valued at about $30,000. Institutional investors own 90.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on VMC shares. Barclays increased their target price on shares of Vulcan Materials from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Citigroup lowered their price target on shares of Vulcan Materials from $355.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Wall Street Zen downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Stephens increased their target price on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, UBS Group cut their price target on Vulcan Materials from $350.00 to $349.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $327.93.

Vulcan Materials Price Performance

Vulcan Materials stock opened at $287.19 on Thursday. The stock has a market cap of $37.21 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 2.05 and a beta of 1.06. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. The business has a 50-day simple moving average of $289.47 and a 200 day simple moving average of $289.34. Vulcan Materials Company has a 52 week low of $252.35 and a 52 week high of $331.09.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.42 EPS. On average, research analysts forecast that Vulcan Materials Company will post 9.29 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, August 13th. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. Vulcan Materials’s dividend payout ratio (DPR) is 24.56%.

Insider Buying and Selling

In related news, SVP David P. Clement sold 2,212 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $292.29, for a total value of $646,545.48. Following the transaction, the senior vice president owned 8,716 shares of the company’s stock, valued at $2,547,599.64. This represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is currently owned by corporate insiders.

Vulcan Materials Company Profile

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.