State Board of Administration of Florida Retirement System Lowers Stake in Vulcan Materials (NYSE:VMC)

State Board of Administration of Florida Retirement System lowered its stake in shares of Vulcan Materials (NYSE:VMCGet Rating) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 167,307 shares of the construction company’s stock after selling 1,230 shares during the period. State Board of Administration of Florida Retirement System owned 0.13% of Vulcan Materials worth $30,734,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of VMC. Key Financial Inc purchased a new stake in Vulcan Materials during the first quarter worth $26,000. Bank of New Hampshire purchased a new stake in Vulcan Materials during the first quarter worth $38,000. Allworth Financial LP lifted its holdings in Vulcan Materials by 84.9% during the first quarter. Allworth Financial LP now owns 257 shares of the construction company’s stock worth $47,000 after buying an additional 118 shares during the period. MCF Advisors LLC acquired a new position in shares of Vulcan Materials during the first quarter worth $52,000. Finally, UMB Bank N A MO acquired a new position in shares of Vulcan Materials during the fourth quarter worth $58,000. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Vulcan Materials Price Performance

Shares of VMC opened at $172.02 on Friday. The business’s 50-day moving average is $154.09 and its two-hundred day moving average is $169.81. The company has a market capitalization of $22.86 billion, a P/E ratio of 38.23, a P/E/G ratio of 1.98 and a beta of 0.81. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.27 and a current ratio of 1.86. Vulcan Materials has a fifty-two week low of $137.54 and a fifty-two week high of $213.65.

Vulcan Materials (NYSE:VMCGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The construction company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.11. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.44 billion. Vulcan Materials had a return on equity of 10.49% and a net margin of 9.99%. The firm’s revenue for the quarter was up 44.2% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS. Research analysts predict that Vulcan Materials will post 5.81 earnings per share for the current year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Wednesday, August 17th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Tuesday, August 16th. Vulcan Materials’s dividend payout ratio is currently 35.56%.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 3,377 shares of the stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $165.23, for a total transaction of $557,981.71. Following the sale, the senior vice president now directly owns 3,970 shares of the company’s stock, valued at approximately $655,963.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP David P. Clement sold 3,377 shares of the stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $165.23, for a total transaction of $557,981.71. Following the sale, the senior vice president now directly owns 3,970 shares of the company’s stock, valued at approximately $655,963.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Melissa H. Anderson bought 500 shares of the stock in a transaction dated Saturday, May 14th. The shares were purchased at an average cost of $191.46 per share, for a total transaction of $95,730.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at $95,730. The disclosure for this purchase can be found here. 0.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Truist Financial reduced their price target on Vulcan Materials to $200.00 in a research report on Tuesday, July 5th. Wolfe Research reduced their price target on Vulcan Materials from $211.00 to $194.00 and set an “outperform” rating on the stock in a research report on Thursday, July 14th. The Goldman Sachs Group reduced their price target on Vulcan Materials from $215.00 to $189.00 and set a “neutral” rating on the stock in a research report on Thursday, June 23rd. DA Davidson reduced their price target on Vulcan Materials from $220.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, July 19th. Finally, Morgan Stanley reduced their price target on Vulcan Materials from $203.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.13.

About Vulcan Materials

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Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in 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.

Further Reading

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Institutional Ownership by Quarter for Vulcan Materials (NYSE:VMC)

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