Third View Private Wealth LLC Sells 3,331 Shares of Vulcan Materials Company $VMC

Third View Private Wealth LLC lessened its stake in Vulcan Materials Company (NYSE:VMC) by 15.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 18,024 shares of the construction company’s stock after selling 3,331 shares during the period. Third View Private Wealth LLC’s holdings in Vulcan Materials were worth $4,409,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of VMC. BlackRock Inc. bought a new position in shares of Vulcan Materials in the 2nd quarter worth about $2,868,444,000. Bank of America Corp DE bought a new position in shares of Vulcan Materials during the 2nd quarter worth about $688,580,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Vulcan Materials in the 2nd quarter valued at about $451,119,000. Dimensional Fund Advisors LP grew its stake in shares of Vulcan Materials by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,346,422 shares of the construction company’s stock valued at $366,592,000 after buying an additional 24,187 shares during the period. Finally, Stockbridge Partners LLC acquired a new stake in shares of Vulcan Materials in the 2nd quarter valued at about $314,470,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $285.10, for a total value of $570,200.00. Following the completion of the transaction, the senior vice president owned 6,716 shares in the company, valued at $1,914,731.60. This trade represents a 22.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J. Hill sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $276.17, for a total transaction of $3,866,380.00. Following the completion of the transaction, the director owned 58,209 shares of the company’s stock, valued at $16,075,579.53. This trade represents a 19.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on VMC shares. Jefferies Financial Group dropped their price target on Vulcan Materials from $345.00 to $320.00 and set a “buy” rating on the stock in a research note on Wednesday, September 23rd. UBS Group reduced their price objective on Vulcan Materials from $349.00 to $326.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. B. Riley Financial raised their price objective on Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. decreased their price objective on Vulcan Materials from $320.00 to $300.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Finally, Royal Bank Of Canada upped their target price on Vulcan Materials from $256.00 to $257.00 and gave the stock a “sector perform” rating in a research report on Friday, October 30th. Twelve investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $311.28.

Vulcan Materials Stock Performance

Shares of Vulcan Materials stock opened at $284.42 on Wednesday. The firm has a market capitalization of $36.50 billion, a P/E ratio of 33.66, a price-to-earnings-growth ratio of 3.00 and a beta of 0.99. Vulcan Materials Company has a 12 month low of $237.03 and a 12 month high of $331.09. The company has a current ratio of 1.43, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $256.22 and its 200 day simple moving average is $280.22.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Thursday, October 29th. The construction company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.02. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.24 billion. Vulcan Materials had a net margin of 13.77% and a return on equity of 13.03%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.84 earnings per share. As a group, analysts anticipate that Vulcan Materials Company will post 8.86 EPS for the current year.

Vulcan Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, November 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, November 9th. Vulcan Materials’s payout ratio is currently 24.62%.

Vulcan Materials Profile

Vulcan Materials Company (NYSE: VMC) is a producer and distributor of construction materials used in infrastructure, commercial, residential and industrial projects. The company is the largest producer of construction aggregates in the United States, including crushed stone, sand and gravel.

In addition to aggregates, Vulcan Materials produces asphalt mix, ready-mixed concrete and cement. Its materials are used in roads, bridges, airports, commercial buildings, homes and other construction applications.