Vulcan Materials (NYSE:VMC) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its position in shares of Vulcan Materials (NYSE:VMC) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,283 shares of the construction company’s stock after selling 760 shares during the quarter. Retirement Systems of Alabama’s holdings in Vulcan Materials were worth $6,648,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of VMC. JPMorgan Chase & Co. boosted its stake in Vulcan Materials by 47.4% during the third quarter. JPMorgan Chase & Co. now owns 4,503,484 shares of the construction company’s stock valued at $909,794,000 after buying an additional 1,447,700 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Vulcan Materials by 30,160.4% in the 3rd quarter. Wellington Management Group LLP now owns 541,359 shares of the construction company’s stock worth $109,365,000 after purchasing an additional 539,570 shares during the last quarter. Palestra Capital Management LLC raised its holdings in shares of Vulcan Materials by 68.9% in the 3rd quarter. Palestra Capital Management LLC now owns 560,315 shares of the construction company’s stock worth $113,195,000 after purchasing an additional 228,510 shares in the last quarter. FMR LLC lifted its stake in Vulcan Materials by 6.8% during the third quarter. FMR LLC now owns 3,042,842 shares of the construction company’s stock valued at $614,715,000 after purchasing an additional 194,337 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in Vulcan Materials during the third quarter worth approximately $30,883,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Vulcan Materials

In related news, SVP Denson N. Franklin III sold 3,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total transaction of $862,336.00. Following the transaction, the senior vice president now owns 5,395 shares of the company’s stock, valued at $1,453,844.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Vulcan Materials news, SVP Denson N. Franklin III sold 3,200 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total transaction of $862,336.00. Following the transaction, the senior vice president now directly owns 5,395 shares of the company’s stock, valued at $1,453,844.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Randy L. Pigg sold 307 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.27, for a total value of $78,367.89. Following the completion of the sale, the vice president now directly owns 1,896 shares of the company’s stock, valued at approximately $483,991.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,017 shares of company stock valued at $3,344,741. 0.62% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

VMC has been the subject of a number of recent research reports. Citigroup increased their price objective on Vulcan Materials from $263.00 to $322.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Stephens upped their target price on Vulcan Materials from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Friday. Wolfe Research cut Vulcan Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Jefferies Financial Group upped their price objective on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Truist Financial lifted their target price on shares of Vulcan Materials from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Vulcan Materials presently has a consensus rating of “Moderate Buy” and an average price target of $277.08.

Vulcan Materials Stock Up 0.0 %

VMC stock opened at $264.44 on Friday. The company has a 50 day moving average of $265.53 and a two-hundred day moving average of $236.46. The company has a quick ratio of 2.39, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. Vulcan Materials has a 12-month low of $187.20 and a 12-month high of $276.58. The company has a market cap of $34.98 billion, a price-to-earnings ratio of 38.60, a PEG ratio of 1.98 and a beta of 0.83.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.11). Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the business posted $0.95 earnings per share. Vulcan Materials’s revenue was down 6.2% on a year-over-year basis. On average, equities analysts anticipate that Vulcan Materials will post 8.5 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.70%. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, March 1st. Vulcan Materials’s payout ratio is currently 26.86%.

Vulcan Materials 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 company 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.