Envestnet Asset Management Inc. Cuts Stake in Vulcan Materials (NYSE:VMC)

Envestnet Asset Management Inc. reduced its stake in shares of Vulcan Materials (NYSE:VMCGet Rating) by 4.3% during the 1st quarter, HoldingsChannel reports. The fund owned 113,321 shares of the construction company’s stock after selling 5,043 shares during the period. Envestnet Asset Management Inc.’s holdings in Vulcan Materials were worth $20,817,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Arizona State Retirement System lifted its holdings in shares of Vulcan Materials by 2.3% during the 1st quarter. Arizona State Retirement System now owns 36,939 shares of the construction company’s stock worth $6,786,000 after acquiring an additional 815 shares during the period. Metis Global Partners LLC raised its holdings in Vulcan Materials by 81.3% in the first quarter. Metis Global Partners LLC now owns 2,101 shares of the construction company’s stock valued at $386,000 after buying an additional 942 shares during the period. FDx Advisors Inc. raised its holdings in Vulcan Materials by 22.1% in the first quarter. FDx Advisors Inc. now owns 3,905 shares of the construction company’s stock valued at $717,000 after buying an additional 706 shares during the period. GoalVest Advisory LLC purchased a new position in Vulcan Materials in the first quarter valued at approximately $663,000. Finally, National Asset Management Inc. raised its holdings in Vulcan Materials by 45.5% in the first quarter. National Asset Management Inc. now owns 3,615 shares of the construction company’s stock valued at $664,000 after buying an additional 1,130 shares during the period. 88.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on VMC. The Goldman Sachs Group cut their price target on shares of Vulcan Materials from $215.00 to $189.00 and set a “neutral” rating on the stock in a report on Thursday, June 23rd. Morgan Stanley cut their price target on shares of Vulcan Materials from $203.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Truist Financial cut their price target on shares of Vulcan Materials to $200.00 in a report on Tuesday, July 5th. Wolfe Research cut their price target on shares of Vulcan Materials from $211.00 to $194.00 and set an “outperform” rating on the stock in a report on Thursday, July 14th. Finally, DA Davidson cut their price target on shares of Vulcan Materials from $220.00 to $195.00 and set a “buy” rating on the stock in a report on Tuesday, July 19th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Vulcan Materials has an average rating of “Moderate Buy” and an average price target of $211.13.

Vulcan Materials Stock Down 0.5 %

VMC stock opened at $163.98 on Wednesday. Vulcan Materials has a twelve month low of $137.54 and a twelve month high of $213.65. The company has a current ratio of 1.86, a quick ratio of 1.27 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $21.79 billion, a P/E ratio of 36.44, a PEG ratio of 1.97 and a beta of 0.81. The firm has a 50 day simple moving average of $153.81 and a 200-day simple moving average of $170.12.

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

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Wednesday, August 17th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Tuesday, August 16th. Vulcan Materials’s payout ratio is currently 35.56%.

Insider Transactions at Vulcan Materials

In related news, Director Melissa H. Anderson purchased 500 shares of the firm’s stock in a transaction dated Saturday, May 14th. The stock was acquired at an average price of $191.46 per share, with a total value of $95,730.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at $95,730. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Vulcan Materials news, SVP David P. Clement sold 3,377 shares of Vulcan Materials stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $165.23, for a total value of $557,981.71. Following the completion of the transaction, the senior vice president now owns 3,970 shares of the company’s stock, valued at $655,963.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Melissa H. Anderson acquired 500 shares of the firm’s stock in a transaction on Saturday, May 14th. The stock was acquired at an average cost of $191.46 per share, with a total value of $95,730.00. Following the acquisition, the director now owns 500 shares of the company’s stock, valued at $95,730. The disclosure for this purchase can be found here. Corporate insiders own 0.57% of the company’s stock.

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.

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

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