Vulcan Materials Company $VMC Stock Sold by Fenimore Asset Management Inc

Fenimore Asset Management Inc reduced its holdings in Vulcan Materials Company (NYSE:VMC) by 0.8% during the third quarter, Holdings Channel.com reports. The fund owned 655,412 shares of the construction company’s stock after selling 5,154 shares during the quarter. Vulcan Materials accounts for 3.5% of Fenimore Asset Management Inc’s investment portfolio, making the stock its 8th largest holding. Fenimore Asset Management Inc’s holdings in Vulcan Materials were worth $160,333,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Vulcan Materials during the second quarter worth about $2,868,444,000. SCS Capital Management LLC purchased a new stake in Vulcan Materials in the second quarter valued at approximately $19,628,000. Silvant Capital Management LLC purchased a new stake in Vulcan Materials in the second quarter valued at approximately $35,140,000. Veritas Asset Management LLP bought a new stake in Vulcan Materials during the second quarter valued at approximately $306,641,000. Finally, Family Legacy Inc. purchased a new position in Vulcan Materials in the 2nd quarter worth approximately $6,403,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Truist Financial lowered their price objective on shares of Vulcan Materials from $360.00 to $320.00 and set a “buy” rating on the stock in a research report on Monday. Weiss Ratings lowered shares of Vulcan Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 24th. Raymond James Financial reissued an “outperform” rating on shares of Vulcan Materials in a research note on Wednesday, July 15th. Wells Fargo & Company lowered their price target on Vulcan Materials from $254.00 to $249.00 and set an “underweight” rating on the stock in a research report on Monday. Finally, Wall Street Zen lowered Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Vulcan Materials has a consensus rating of “Hold” and a consensus target price of $316.57.

Insider Transactions at Vulcan Materials

In related news, SVP David P. Clement sold 2,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $285.10, for a total transaction of $570,200.00. Following the completion of the sale, the senior vice president directly owned 6,716 shares in the company, valued at $1,914,731.60. This represents a 22.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J. Hill sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $276.17, for a total value of $3,866,380.00. Following the transaction, the director owned 58,209 shares in the company, valued at approximately $16,075,579.53. The trade was a 19.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.65% of the stock is currently owned by company insiders.

Vulcan Materials Trading Up 0.8%

Shares of VMC traded up $1.85 during mid-day trading on Thursday, reaching $245.98. The company’s stock had a trading volume of 1,434,240 shares, compared to its average volume of 1,166,198. Vulcan Materials Company has a 52 week low of $237.03 and a 52 week high of $331.09. The stock has a market cap of $31.87 billion, a PE ratio of 29.04, a P/E/G ratio of 2.51 and a beta of 1.05. The company’s fifty day moving average price is $262.56 and its two-hundred day moving average price is $277.30. 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 (NYSE:VMC) last released its earnings results on Wednesday, July 29th. The construction company reported $2.59 EPS for the quarter, beating the consensus estimate of $2.46 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.42 EPS. On average, analysts predict that Vulcan Materials Company will post 9.1 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, August 13th. Vulcan Materials’s dividend payout ratio is presently 24.56%.

Vulcan Materials Profile

Vulcan Materials Company (NYSE:VMC) is a major producer and supplier of construction materials in the United States. The company primarily produces and distributes construction aggregates, including crushed stone, sand and gravel, which are used in infrastructure, commercial, residential and industrial projects.

In addition to aggregates, Vulcan produces asphalt mix and ready-mixed concrete and provides related construction-material services. Its products support highways, bridges, airports, buildings and other essential infrastructure.