Sterling Capital Management LLC Sells 10,787 Shares of Vulcan Materials Company $VMC

Sterling Capital Management LLC trimmed its holdings in Vulcan Materials Company (NYSE:VMC) by 70.8% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor 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.

A number of other hedge funds have also bought and sold shares of VMC. Venturi Wealth Management LLC bought a new position in Vulcan Materials during the 1st quarter valued at about $748,000. Meyer Handelman Co. raised its holdings in shares of Vulcan Materials by 22.6% during the first quarter. Meyer Handelman Co. now owns 2,121 shares of the construction company’s stock valued at $578,000 after purchasing an additional 391 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Vulcan Materials during the first quarter valued at approximately $1,824,000. Kestra Private Wealth Services LLC lifted its position in Vulcan Materials by 164.0% during the first quarter. Kestra Private Wealth Services LLC now owns 2,730 shares of the construction company’s stock valued at $743,000 after purchasing an additional 1,696 shares during the period. Finally, Ritholtz Wealth Management bought a new position in Vulcan Materials during the first quarter valued at approximately $203,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $292.29, for a total transaction of $646,545.48. Following the completion of the sale, the senior vice president owned 8,716 shares of the company’s stock, valued at approximately $2,547,599.64. The trade was a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Vulcan Materials Stock Down 2.5%

VMC opened at $303.50 on Tuesday. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. Vulcan Materials Company has a 1-year low of $252.35 and a 1-year high of $331.09. The company has a market capitalization of $39.38 billion, a PE ratio of 36.09, a PEG ratio of 2.25 and a beta of 1.05. The firm’s 50 day simple moving average is $285.90 and its two-hundred day simple moving average is $290.79.

Vulcan Materials (NYSE:VMC) last issued 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. The business had revenue of $1.76 billion for 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 company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.00 EPS. As a group, equities analysts forecast that Vulcan Materials Company will post 9.28 EPS for the current year.

Vulcan Materials Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on VMC. Oppenheimer assumed coverage on shares of Vulcan Materials in a research note on Thursday, May 28th. They set a “market perform” rating for the company. Morgan Stanley cut their price objective on Vulcan Materials from $322.00 to $321.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Berenberg Bank set a $283.00 price objective on Vulcan Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. Royal Bank Of Canada increased their target price on Vulcan Materials from $296.00 to $298.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. Finally, Raymond James Financial set a $325.00 target price on Vulcan Materials in a report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.