Oppenheimer Asset Management Inc. Decreases Position in Vulcan Materials Company $VMC

Oppenheimer Asset Management Inc. trimmed its position in shares of Vulcan Materials Company (NYSE:VMC) by 2.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,867 shares of the construction company’s stock after selling 502 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Vulcan Materials were worth $4,399,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in VMC. Brighton Jones LLC acquired a new position in shares of Vulcan Materials in the fourth quarter worth $497,000. GAMMA Investing LLC raised its holdings in shares of Vulcan Materials by 27.2% in the first quarter. GAMMA Investing LLC now owns 1,706 shares of the construction company’s stock worth $398,000 after acquiring an additional 365 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Vulcan Materials by 10.6% in the first quarter. Oppenheimer & Co. Inc. now owns 1,456 shares of the construction company’s stock worth $340,000 after acquiring an additional 139 shares during the last quarter. Transcend Capital Advisors LLC acquired a new position in shares of Vulcan Materials in the first quarter worth $216,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Vulcan Materials by 19.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,343 shares of the construction company’s stock worth $3,341,000 after acquiring an additional 2,375 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $298.56, for a total transaction of $208,394.88. Following the completion of the sale, the senior vice president owned 2,832 shares of the company’s stock, valued at approximately $845,521.92. The trade was a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

Vulcan Materials Price Performance

VMC stock opened at $292.83 on Wednesday. The stock has a 50-day moving average price of $296.41 and a two-hundred day moving average price of $276.62. Vulcan Materials Company has a 12-month low of $215.08 and a 12-month high of $311.74. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The company has a market cap of $38.69 billion, a PE ratio of 40.90, a price-to-earnings-growth ratio of 2.37 and a beta of 0.92.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.20). Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period last year, the firm posted $2.35 EPS. Vulcan Materials’s revenue was up 4.4% on a year-over-year basis. As a group, research analysts predict that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Monday, November 10th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, November 10th. Vulcan Materials’s payout ratio is 27.37%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on VMC shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Vulcan Materials in a report on Wednesday, October 8th. Barclays boosted their price target on Vulcan Materials from $305.00 to $320.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Citigroup reissued a “buy” rating and issued a $321.00 price target (up from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. JPMorgan Chase & Co. upped their target price on Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Finally, Morgan Stanley dropped their target price on Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating for the company in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $313.17.

About Vulcan Materials

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.