iA Global Asset Management Inc. Sells 23,212 Shares of Vulcan Materials Company $VMC

iA Global Asset Management Inc. trimmed its position in shares of Vulcan Materials Company (NYSE:VMC) by 97.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 638 shares of the construction company’s stock after selling 23,212 shares during the quarter. iA Global Asset Management Inc.’s holdings in Vulcan Materials were worth $174,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Lone Pine Capital LLC acquired a new stake in Vulcan Materials in the 3rd quarter valued at $425,938,000. Norges Bank bought a new position in shares of Vulcan Materials in the fourth quarter valued at $383,613,000. Egerton Capital UK LLP acquired a new position in shares of Vulcan Materials during the fourth quarter valued at about $273,861,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Vulcan Materials by 121.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 717,409 shares of the construction company’s stock valued at $204,619,000 after buying an additional 393,339 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Vulcan Materials by 993.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 396,628 shares of the construction company’s stock worth $113,126,000 after acquiring an additional 360,368 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

Insider Activity at Vulcan Materials

In other news, SVP David P. Clement sold 2,212 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $292.29, for a total value of $646,545.48. Following the completion of the transaction, the senior vice president directly owned 8,716 shares of the company’s stock, valued at $2,547,599.64. This trade represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is owned by insiders.

Vulcan Materials Stock Up 0.1%

Shares of NYSE VMC opened at $303.45 on Friday. The stock has a market capitalization of $39.38 billion, a PE ratio of 36.08, a P/E/G ratio of 2.19 and a beta of 1.05. Vulcan Materials Company has a one year low of $252.35 and a one year high of $331.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.59 and a quick ratio of 1.89. The business’s fifty day moving average price is $286.49 and its 200-day moving average price is $290.89.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. Vulcan Materials’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.00 EPS. On average, equities research analysts anticipate that Vulcan Materials Company will post 9.27 EPS for the current year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given a dividend of $0.52 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. Vulcan Materials’s dividend payout ratio is currently 24.73%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VMC. Oppenheimer began coverage on shares of Vulcan Materials in a report on Thursday, May 28th. They issued a “market perform” rating on the stock. Berenberg Bank set a $283.00 price objective on Vulcan Materials and gave the stock a “hold” rating in a report on Tuesday, June 2nd. Barclays increased their price objective on Vulcan Materials from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Raymond James Financial set a $325.00 target price on Vulcan Materials in a research report on Thursday, April 30th. Finally, Wells Fargo & Company upped their price target on Vulcan Materials from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $326.54.

Vulcan Materials Profile

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.