Candriam Luxembourg S.C.A. decreased its stake in Vulcan Materials Co. (NYSE:VMC) by 57.1% during the second quarter, Holdings Channel reports. The firm owned 20,300 shares of the company’s stock after selling 27,013 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Vulcan Materials were worth $2,443,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Caledonia Private Investments Pty Ltd increased its position in shares of Vulcan Materials by 19.3% in the first quarter. Caledonia Private Investments Pty Ltd now owns 753,253 shares of the company’s stock valued at $79,521,000 after buying an additional 121,944 shares during the period. New York State Teachers Retirement System increased its position in shares of Vulcan Materials by 0.8% in the second quarter. New York State Teachers Retirement System now owns 230,609 shares of the company’s stock valued at $27,756,000 after buying an additional 1,901 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of Vulcan Materials by 51.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 296,158 shares of the company’s stock valued at $31,265,000 after buying an additional 100,300 shares during the period. Geode Capital Management LLC increased its position in shares of Vulcan Materials by 2.1% in the first quarter. Geode Capital Management LLC now owns 1,078,909 shares of the company’s stock valued at $113,670,000 after buying an additional 22,325 shares during the period. Finally, Simmons Bank acquired a new position in shares of Vulcan Materials during the first quarter valued at $340,000. Hedge funds and other institutional investors own 86.71% of the company’s stock.
Shares of Vulcan Materials Co. (NYSE:VMC) traded down 1.01% during mid-day trading on Friday, hitting $113.73. The stock had a trading volume of 1,647,083 shares. Vulcan Materials Co. has a 52-week low of $78.83 and a 52-week high of $127.20. The firm has a 50 day moving average price of $114.02 and a 200 day moving average price of $114.65. The firm has a market cap of $15.13 billion, a PE ratio of 43.39 and a beta of 1.36.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.10. Vulcan Materials had a net margin of 9.85% and a return on equity of 8.74%. The business earned $956.80 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business earned $0.35 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts predict that Vulcan Materials Co. will post $3.28 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 24th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Monday, August 22nd. Vulcan Materials’s dividend payout ratio is presently 30.65%.
VMC has been the topic of several research analyst reports. Royal Bank Of Canada boosted their target price on Vulcan Materials from $127.00 to $140.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 12th. Zacks Investment Research downgraded Vulcan Materials from a “buy” rating to a “hold” rating in a research note on Friday, July 1st. Jefferies Group reiterated a “hold” rating on shares of Vulcan Materials in a research note on Wednesday, August 31st. Alembic Global Advisors started coverage on Vulcan Materials in a research note on Thursday, June 9th. They set a “neutral” rating and a $125.00 price target on the stock. Finally, Goldman Sachs Group Inc. downgraded Vulcan Materials from a “conviction-buy” rating to a “buy” rating and boosted their price target for the company from $128.00 to $146.00 in a research note on Wednesday, June 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $128.22.
In other Vulcan Materials news, insider Stanley G. Bass sold 829 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $121.07, for a total value of $100,367.03. Following the sale, the insider now directly owns 15,185 shares in the company, valued at $1,838,447.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David B. Pasley sold 280 shares of the firm’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $117.55, for a total value of $32,914.00. Following the completion of the sale, the insider now owns 2,470 shares in the company, valued at $290,348.50. The disclosure for this sale can be found here. 0.92% of the stock is owned by company insiders.
About Vulcan Materials
Vulcan Materials Company is a producer of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company has four segments organized around its principal product lines: Aggregates, Asphalt Mix, Concrete and Calcium. The Company operates approximately 344 aggregates facilities.
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