Eaton Vance Management trimmed its holdings in Vulcan Materials (NYSE:VMC) by 30.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,924 shares of the construction company’s stock after selling 22,102 shares during the period. Eaton Vance Management’s holdings in Vulcan Materials were worth $5,552,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Baird Financial Group Inc. purchased a new stake in shares of Vulcan Materials during the 3rd quarter valued at about $222,000. Dimensional Fund Advisors LP raised its holdings in shares of Vulcan Materials by 10.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,022,067 shares of the construction company’s stock valued at $113,668,000 after buying an additional 99,925 shares during the period. Carillon Tower Advisers Inc. raised its holdings in shares of Vulcan Materials by 6.1% during the 3rd quarter. Carillon Tower Advisers Inc. now owns 91,350 shares of the construction company’s stock valued at $10,158,000 after buying an additional 5,250 shares during the period. Korea Investment CORP raised its holdings in shares of Vulcan Materials by 19.2% during the 3rd quarter. Korea Investment CORP now owns 175,445 shares of the construction company’s stock valued at $19,509,000 after buying an additional 28,216 shares during the period. Finally, Credit Suisse AG raised its holdings in shares of Vulcan Materials by 8.2% during the 3rd quarter. Credit Suisse AG now owns 138,657 shares of the construction company’s stock valued at $15,419,000 after buying an additional 10,489 shares during the period. 96.84% of the stock is currently owned by hedge funds and other institutional investors.
VMC stock opened at $101.36 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.11 and a debt-to-equity ratio of 0.54. Vulcan Materials has a 52-week low of $82.52 and a 52-week high of $141.20. The company has a market cap of $13.28 billion, a price-to-earnings ratio of 33.34, a price-to-earnings-growth ratio of 1.02 and a beta of 0.98.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Tuesday, October 30th. The construction company reported $1.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.40. Vulcan Materials had a return on equity of 10.20% and a net margin of 16.84%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the business earned $1.04 EPS. Vulcan Materials’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities analysts forecast that Vulcan Materials will post 3.95 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Wednesday, November 21st were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, November 20th. This represents a $1.12 annualized dividend and a yield of 1.10%. Vulcan Materials’s dividend payout ratio is presently 36.84%.
In other Vulcan Materials news, Chairman J Thomas Hill acquired 1,955 shares of the company’s stock in a transaction on Tuesday, November 6th. The shares were bought at an average cost of $101.66 per share, for a total transaction of $198,745.30. Following the acquisition, the chairman now directly owns 57,348 shares of the company’s stock, valued at $5,829,997.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.89% of the stock is owned by insiders.
VMC has been the topic of several analyst reports. Bank of America downgraded Vulcan Materials from a “neutral” rating to an “underperform” rating and set a $103.00 target price on the stock. in a report on Wednesday, October 17th. Nomura initiated coverage on Vulcan Materials in a report on Monday, October 29th. They set a “neutral” rating and a $100.00 target price on the stock. Stephens set a $125.00 target price on Vulcan Materials and gave the company a “buy” rating in a report on Wednesday, October 17th. Zacks Investment Research upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Finally, Barclays restated a “buy” rating and set a $132.00 price objective on shares of Vulcan Materials in a report on Thursday, October 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Vulcan Materials presently has a consensus rating of “Buy” and an average price target of $125.09.
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Vulcan Materials Profile
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the 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.
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