Hsbc Holdings PLC Sells 40,336 Shares of Vulcan Materials Company $VMC

Hsbc Holdings PLC cut its holdings in Vulcan Materials Company (NYSE:VMC) by 13.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,748 shares of the construction company’s stock after selling 40,336 shares during the period. Hsbc Holdings PLC’s holdings in Vulcan Materials were worth $74,688,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of VMC. Burkett Financial Services LLC bought a new position in Vulcan Materials in the 2nd quarter valued at $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Vulcan Materials in the 3rd quarter worth about $30,000. Birchwood Financial Partners Inc. purchased a new position in shares of Vulcan Materials in the 4th quarter worth about $29,000. Meeder Asset Management Inc. grew its position in Vulcan Materials by 71.7% during the first quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock valued at $28,000 after buying an additional 43 shares during the period. Finally, Clearstead Trust LLC purchased a new stake in Vulcan Materials during the second quarter worth about $37,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on VMC shares. Wall Street Zen upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. UBS Group lowered their price target on shares of Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. DA Davidson started coverage on Vulcan Materials in a report on Tuesday, August 25th. They set a “buy” rating and a $330.00 price objective for the company. Oppenheimer began coverage on Vulcan Materials in a research report on Thursday, May 28th. They issued a “market perform” rating for the company. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and an average target price of $328.64.

Vulcan Materials Stock Up 0.1%

Vulcan Materials stock opened at $262.93 on Monday. The firm has a 50 day simple moving average of $282.33 and a 200 day simple moving average of $283.80. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47. Vulcan Materials Company has a 1-year low of $252.35 and a 1-year high of $331.09. The firm has a market capitalization of $34.07 billion, a price-to-earnings ratio of 31.04, a P/E/G ratio of 2.36 and a beta of 1.05.

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

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th were paid a $0.52 dividend. The ex-dividend date was Thursday, August 13th. This represents a $2.08 annualized dividend and a yield of 0.8%. Vulcan Materials’s dividend payout ratio (DPR) is currently 24.56%.

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, SVP David Clement sold 2,212 shares of Vulcan Materials 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 transaction, the senior vice president owned 8,716 shares of the company’s stock, valued at $2,547,599.64. The trade was a 20.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director J. Hill sold 14,000 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $276.17, for a total value of $3,866,380.00. Following the sale, the director owned 58,209 shares in the company, valued at approximately $16,075,579.53. This represents a 19.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,212 shares of company stock valued at $5,083,125 in the last ninety days. Insiders own 0.65% of the company’s stock.

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.