Assenagon Asset Management S.A. Lowers Stake in Vulcan Materials (NYSE:VMC)

Assenagon Asset Management S.A. lessened its position in shares of Vulcan Materials (NYSE:VMCGet Rating) by 24.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,011 shares of the construction company’s stock after selling 2,989 shares during the period. Assenagon Asset Management S.A.’s holdings in Vulcan Materials were worth $1,421,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Covea Finance purchased a new stake in shares of Vulcan Materials in the third quarter worth about $9,438,000. Veriti Management LLC boosted its position in shares of Vulcan Materials by 3.9% in the third quarter. Veriti Management LLC now owns 2,282 shares of the construction company’s stock worth $360,000 after buying an additional 86 shares during the period. Handelsbanken Fonder AB boosted its position in shares of Vulcan Materials by 41.9% in the third quarter. Handelsbanken Fonder AB now owns 74,338 shares of the construction company’s stock worth $11,724,000 after buying an additional 21,963 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Vulcan Materials by 15.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,334,985 shares of the construction company’s stock worth $368,250,000 after buying an additional 321,137 shares during the period. Finally, Capital Investment Advisory Services LLC purchased a new stake in shares of Vulcan Materials in the third quarter worth about $211,000. Hedge funds and other institutional investors own 90.08% of the company’s stock.

Vulcan Materials Trading Up 1.3 %

Shares of NYSE VMC opened at $183.19 on Friday. The stock’s 50 day moving average price is $178.56 and its two-hundred day moving average price is $167.01. Vulcan Materials has a 52-week low of $137.54 and a 52-week high of $198.62. The stock has a market capitalization of $24.35 billion, a P/E ratio of 41.17, a PEG ratio of 1.90 and a beta of 0.79. The company has a quick ratio of 1.31, a current ratio of 1.71 and a debt-to-equity ratio of 0.56.

Vulcan Materials (NYSE:VMCGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.07. Vulcan Materials had a return on equity of 10.56% and a net margin of 8.26%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2 billion. On average, analysts anticipate that Vulcan Materials will post 5.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VMC. DA Davidson decreased their target price on Vulcan Materials from $205.00 to $200.00 in a research report on Wednesday, October 12th. Royal Bank of Canada upgraded Vulcan Materials from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $170.00 to $191.00 in a research note on Friday. JPMorgan Chase & Co. upgraded Vulcan Materials from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $185.00 to $200.00 in a research note on Thursday, December 8th. StockNews.com started coverage on Vulcan Materials in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Raymond James cut their price target on Vulcan Materials from $197.00 to $186.00 and set an “outperform” rating on the stock in a research note on Friday, November 4th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Vulcan Materials has an average rating of “Moderate Buy” and an average target price of $202.36.

Insider Buying and Selling at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $180.00, for a total transaction of $360,000.00. Following the sale, the senior vice president now owns 1,970 shares in the company, valued at $354,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is currently owned by insiders.

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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