Vulcan Materials Company $VMC Stock Holdings Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of Vulcan Materials Company (NYSE:VMC) by 0.4% during the 1st quarter, Holdings Channel reports. The firm owned 781,392 shares of the construction company’s stock after selling 3,427 shares during the period. Bank of New York Mellon Corp’s holdings in Vulcan Materials were worth $212,773,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Vulcan Materials during the fourth quarter valued at about $383,613,000. Egerton Capital UK LLP bought a new stake in Vulcan Materials in the fourth quarter worth about $273,861,000. Arrowstreet Capital Limited Partnership lifted its holdings in Vulcan Materials by 121.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 717,409 shares of the construction company’s stock valued at $204,619,000 after acquiring an additional 393,339 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Vulcan Materials by 993.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 396,628 shares of the construction company’s stock valued at $113,126,000 after purchasing an additional 360,368 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new position in shares of Vulcan Materials in the 3rd quarter worth approximately $98,911,000. Institutional investors own 90.39% of the company’s stock.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of Vulcan Materials stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $292.29, for a total transaction of $646,545.48. Following the transaction, the senior vice president owned 8,716 shares of the company’s stock, valued at $2,547,599.64. The trade was a 20.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.65% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. UBS Group cut their target price on shares of Vulcan Materials from $350.00 to $349.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Stifel Nicolaus set a $333.00 price target on shares of Vulcan Materials in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vulcan Materials in a report on Tuesday, July 7th. Citigroup cut their price objective on Vulcan Materials from $365.00 to $355.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Stephens raised their price objective on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and an average target price of $327.79.

Vulcan Materials Stock Down 1.6%

Shares of NYSE:VMC opened at $288.64 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.59. The company has a market cap of $37.45 billion, a PE ratio of 34.32, a price-to-earnings-growth ratio of 2.09 and a beta of 1.05. Vulcan Materials Company has a 52 week low of $252.35 and a 52 week high of $331.09. The firm has a 50 day simple moving average of $286.57 and a 200 day simple moving average of $290.97.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, April 29th. The construction company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.10 by $0.25. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.Vulcan Materials’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 earnings per share. As a group, research analysts expect that Vulcan Materials Company will post 9.23 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, August 13th. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. Vulcan Materials’s dividend payout ratio (DPR) is presently 24.73%.

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.