Skandinaviska Enskilda Banken AB publ reduced its stake in shares of Vulcan Materials (NYSE:VMC) by 9.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 26,059 shares of the construction company’s stock after selling 2,791 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Vulcan Materials were worth $2,816,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. APG Asset Management N.V. increased its stake in Vulcan Materials by 6.9% in the first quarter. APG Asset Management N.V. now owns 531,705 shares of the construction company’s stock valued at $57,461,000 after acquiring an additional 34,092 shares during the last quarter. Eaton Vance Management boosted its holdings in shares of Vulcan Materials by 10.7% in the 1st quarter. Eaton Vance Management now owns 58,859 shares of the construction company’s stock worth $6,361,000 after purchasing an additional 5,666 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Vulcan Materials by 0.7% during the 1st quarter. Alliancebernstein L.P. now owns 222,317 shares of the construction company’s stock valued at $24,026,000 after purchasing an additional 1,561 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Vulcan Materials by 148.3% during the 1st quarter. Invesco Ltd. now owns 1,394,052 shares of the construction company’s stock valued at $150,655,000 after buying an additional 832,692 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in Vulcan Materials by 32.8% in the 1st quarter. CIBC Asset Management Inc now owns 21,291 shares of the construction company’s stock worth $2,301,000 after buying an additional 5,260 shares during the last quarter. 89.85% of the stock is owned by institutional investors.
Shares of VMC stock opened at $116.02 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.69 and a current ratio of 2.68. Vulcan Materials has a fifty-two week low of $65.56 and a fifty-two week high of $152.49. The firm has a market cap of $14.94 billion, a P/E ratio of 25.17, a P/E/G ratio of 2.90 and a beta of 0.82. The business’s 50 day moving average price is $110.44 and its 200-day moving average price is $121.78.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, May 6th. The construction company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.04. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Vulcan Materials had a net margin of 12.34% and a return on equity of 11.38%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. As a group, equities analysts predict that Vulcan Materials will post 4.32 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, May 21st. Vulcan Materials’s payout ratio is 28.94%.
Several research analysts have commented on VMC shares. Cfra downgraded shares of Vulcan Materials from a “buy” rating to a “hold” rating and decreased their price target for the stock from $151.00 to $120.00 in a research note on Wednesday, May 6th. Bank of America upgraded shares of Vulcan Materials from a “neutral” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Tuesday, March 3rd. Barclays cut their price target on shares of Vulcan Materials from $160.00 to $122.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Nomura Securities lifted their price objective on Vulcan Materials from $112.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, Argus lowered their target price on Vulcan Materials from $152.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $133.25.
Vulcan Materials Company 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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