Citigroup Inc. Sells 30,665 Shares of Vulcan Materials (NYSE:VMC)

Citigroup Inc. trimmed its holdings in Vulcan Materials (NYSE:VMC) by 22.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 108,283 shares of the construction company’s stock after selling 30,665 shares during the quarter. Citigroup Inc. owned 0.08% of Vulcan Materials worth $27,117,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cetera Advisors LLC lifted its stake in Vulcan Materials by 118.1% in the first quarter. Cetera Advisors LLC now owns 4,146 shares of the construction company’s stock worth $1,132,000 after purchasing an additional 2,245 shares during the last quarter. Mather Group LLC. lifted its stake in shares of Vulcan Materials by 16.1% in the 2nd quarter. Mather Group LLC. now owns 491 shares of the construction company’s stock valued at $134,000 after acquiring an additional 68 shares during the last quarter. Raymond James & Associates boosted its holdings in Vulcan Materials by 3.0% during the 2nd quarter. Raymond James & Associates now owns 202,539 shares of the construction company’s stock valued at $50,367,000 after acquiring an additional 5,979 shares during the period. Tidal Investments LLC grew its position in Vulcan Materials by 87.1% during the 1st quarter. Tidal Investments LLC now owns 9,591 shares of the construction company’s stock worth $2,618,000 after acquiring an additional 4,466 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in Vulcan Materials by 3.3% in the 1st quarter. California State Teachers Retirement System now owns 237,309 shares of the construction company’s stock worth $64,766,000 after purchasing an additional 7,552 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Citigroup cut their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. UBS Group started coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $349.00 price objective on the stock. Truist Financial upped their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada reduced their price target on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Finally, Stephens dropped their price objective on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $280.46.

Vulcan Materials Stock Performance

Shares of VMC stock opened at $290.34 on Tuesday. The company’s fifty day moving average price is $262.20 and its 200-day moving average price is $254.67. The stock has a market cap of $38.34 billion, a PE ratio of 45.79, a price-to-earnings-growth ratio of 2.75 and a beta of 0.81. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. Vulcan Materials has a 12 month low of $209.60 and a 12 month high of $298.31.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the firm earned $2.29 earnings per share. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, equities analysts expect that Vulcan Materials will post 7.16 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be paid a $0.46 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.84 annualized dividend and a dividend yield of 0.63%. Vulcan Materials’s dividend payout ratio is presently 29.02%.

Vulcan Materials Company Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.