Glenmede Trust Co. NA Sells 4,043 Shares of Vulcan Materials Company $VMC

Glenmede Trust Co. NA reduced its stake in shares of Vulcan Materials Company (NYSE:VMC) by 35.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,428 shares of the construction company’s stock after selling 4,043 shares during the period. Glenmede Trust Co. NA’s holdings in Vulcan Materials were worth $2,023,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Vulcan Materials in the fourth quarter worth approximately $383,613,000. Egerton Capital UK LLP acquired a new position in Vulcan Materials in the fourth quarter valued at $273,861,000. The Manufacturers Life Insurance Company grew its holdings in Vulcan Materials by 908.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 755,682 shares of the construction company’s stock worth $205,772,000 after acquiring an additional 680,761 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Vulcan Materials by 121.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 717,409 shares of the construction company’s stock valued at $204,619,000 after purchasing an additional 393,339 shares during the period. Finally, Freestone Grove Partners LP bought a new stake in Vulcan Materials in the third quarter worth approximately $98,911,000. Institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

VMC has been the topic of several research analyst reports. Raymond James Financial reissued an “outperform” rating on shares of Vulcan Materials in a research note on Wednesday, July 15th. Oppenheimer started coverage on Vulcan Materials in a research report on Thursday, May 28th. They set a “market perform” rating on the stock. Citigroup cut their target price on Vulcan Materials from $355.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Royal Bank Of Canada lifted their price target on shares of Vulcan Materials from $293.00 to $300.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Finally, Zacks Research upgraded shares of Vulcan Materials from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 9th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $327.93.

Insider Buying and Selling

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of Vulcan Materials stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $292.29, for a total transaction 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 trade represents a 20.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.65% of the company’s stock.

Vulcan Materials Stock Up 0.7%

Shares of NYSE:VMC 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 business’s 50 day moving average is $289.47 and its 200 day moving average is $289.34. Vulcan Materials Company has a 12-month low of $252.35 and a 12-month high of $331.09. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47.

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

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 13th. Vulcan Materials’s dividend payout ratio is presently 24.56%.

Vulcan Materials 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.