Weitz Investment Management Inc. Sells 2,500 Shares of Vulcan Materials Company $VMC

Weitz Investment Management Inc. trimmed its position in shares of Vulcan Materials Company (NYSE:VMC) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 210,200 shares of the construction company’s stock after selling 2,500 shares during the period. Vulcan Materials comprises 3.6% of Weitz Investment Management Inc.’s holdings, making the stock its 11th biggest holding. Weitz Investment Management Inc. owned approximately 0.16% of Vulcan Materials worth $59,953,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NBT Bank N A NY bought a new stake in Vulcan Materials in the fourth quarter worth about $26,000. Godsey & Gibb Inc. bought a new stake in Vulcan Materials in the fourth quarter worth about $30,000. Measured Wealth Private Client Group LLC bought a new stake in Vulcan Materials in the third quarter worth about $30,000. WPG Advisers LLC lifted its stake in Vulcan Materials by 56.4% in the fourth quarter. WPG Advisers LLC now owns 122 shares of the construction company’s stock worth $35,000 after purchasing an additional 44 shares during the last quarter. Finally, Concord Wealth Partners bought a new stake in Vulcan Materials in the fourth quarter worth about $36,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Price Performance

Vulcan Materials stock opened at $280.33 on Friday. The stock has a market cap of $36.38 billion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 1.97 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.59 and a quick ratio of 1.89. Vulcan Materials Company has a 1 year low of $252.35 and a 1 year high of $331.09. The firm has a 50-day moving average of $282.50 and a two-hundred day moving average of $290.05.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.25. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 EPS. On average, research analysts forecast that Vulcan Materials Company will post 9.29 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, May 22nd. Vulcan Materials’s payout ratio is 24.73%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Berenberg Bank set a $283.00 price objective on shares of Vulcan Materials and gave the stock a “hold” rating in a research note on Tuesday, June 2nd. Royal Bank Of Canada raised their price objective on shares of Vulcan Materials from $296.00 to $298.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. Stifel Nicolaus set a $333.00 price objective on shares of Vulcan Materials in a research note on Thursday, April 30th. Citigroup decreased their price objective on shares of Vulcan Materials from $365.00 to $355.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, Wells Fargo & Company raised their price objective on shares of Vulcan Materials from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Vulcan Materials currently has an average rating of “Hold” and a consensus target price of $326.92.

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.