Vulcan Materials Company $VMC Shares Sold by Grassi Investment Management

Grassi Investment Management cut its stake in shares of Vulcan Materials Company (NYSE:VMC) by 0.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 44,752 shares of the construction company’s stock after selling 200 shares during the period. Vulcan Materials comprises about 0.9% of Grassi Investment Management’s holdings, making the stock its 26th biggest holding. Grassi Investment Management’s holdings in Vulcan Materials were worth $11,672,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Vulcan Materials by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 16,699,662 shares of the construction company’s stock worth $3,896,031,000 after purchasing an additional 347,155 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Vulcan Materials by 5.6% during the first quarter. JPMorgan Chase & Co. now owns 6,967,777 shares of the construction company’s stock valued at $1,625,583,000 after acquiring an additional 370,434 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Vulcan Materials by 7.4% during the first quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company’s stock valued at $1,518,291,000 after acquiring an additional 445,691 shares during the last quarter. Alkeon Capital Management LLC raised its holdings in shares of Vulcan Materials by 4.4% during the first quarter. Alkeon Capital Management LLC now owns 1,338,346 shares of the construction company’s stock valued at $312,236,000 after acquiring an additional 56,345 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Vulcan Materials by 4.4% in the 1st quarter. Invesco Ltd. now owns 1,214,868 shares of the construction company’s stock valued at $283,429,000 after purchasing an additional 50,968 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Vulcan Materials stock opened at $305.13 on Friday. The company has a 50-day moving average price of $291.36 and a 200 day moving average price of $268.67. The stock has a market cap of $40.31 billion, a P/E ratio of 42.62, a PEG ratio of 2.48 and a beta of 0.92. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. Vulcan Materials Company has a 12-month low of $215.08 and a 12-month high of $309.17.

Vulcan Materials (NYSE:VMC) last announced 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). The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.35 EPS. Sell-side analysts anticipate that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.96 annualized dividend and a yield of 0.6%. Vulcan Materials’s dividend payout ratio (DPR) is 27.37%.

Analysts Set New Price Targets

VMC has been the subject of several recent research reports. Royal Bank Of Canada reduced their price objective on Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating for the company in a research note on Friday, August 1st. Barclays increased their target price on shares of Vulcan Materials from $285.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Citigroup reiterated a “buy” rating and issued a $321.00 price objective (up previously from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. JPMorgan Chase & Co. increased their price objective on shares of Vulcan Materials from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. Finally, Morgan Stanley cut their price target on Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating for the company in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Vulcan Materials has an average rating of “Buy” and an average target price of $308.36.

Insider Transactions at Vulcan Materials

In related news, SVP David P. Clement sold 698 shares of the firm’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 directly owned 2,832 shares of the company’s stock, valued at approximately $845,521.92. This trade represents a 19.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is currently owned by company insiders.

Vulcan Materials 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.