Bank of Nova Scotia lessened its holdings in shares of Vulcan Materials (NYSE:VMC – Get Rating) by 33.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 11,677 shares of the construction company’s stock after selling 5,772 shares during the period. Bank of Nova Scotia’s holdings in Vulcan Materials were worth $1,659,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of VMC. Achmea Investment Management B.V. acquired a new stake in Vulcan Materials during the 1st quarter worth $29,000. Fieldpoint Private Securities LLC grew its holdings in shares of Vulcan Materials by 4,700.0% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 240 shares of the construction company’s stock valued at $34,000 after buying an additional 235 shares during the period. Clear Street Markets LLC grew its holdings in shares of Vulcan Materials by 416.7% in the 2nd quarter. Clear Street Markets LLC now owns 279 shares of the construction company’s stock valued at $40,000 after buying an additional 225 shares during the period. CX Institutional acquired a new position in shares of Vulcan Materials in the 2nd quarter valued at $44,000. Finally, Standard Family Office LLC acquired a new position in shares of Vulcan Materials in the 1st quarter valued at $48,000. Institutional investors and hedge funds own 90.25% of the company’s stock.
Analysts Set New Price Targets
VMC has been the subject of several research analyst reports. Vertical Research raised shares of Vulcan Materials from a “hold” rating to a “buy” rating in a report on Monday, September 12th. JPMorgan Chase & Co. boosted their price target on shares of Vulcan Materials from $170.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, September 22nd. Raymond James cut their price objective on shares of Vulcan Materials from $197.00 to $186.00 and set an “outperform” rating on the stock in a research report on Friday, November 4th. Morgan Stanley boosted their price objective on shares of Vulcan Materials from $175.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday, November 3rd. Finally, DA Davidson cut their price objective on shares of Vulcan Materials from $205.00 to $200.00 in a research report on Wednesday, October 12th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Vulcan Materials presently has an average rating of “Moderate Buy” and a consensus price target of $202.00.
Vulcan Materials Trading Down 0.6 %
Vulcan Materials Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Stockholders of record on Tuesday, November 15th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, November 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.91%. Vulcan Materials’s dividend payout ratio is presently 35.96%.
Vulcan Materials Company Profile
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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