Fifth Third Bancorp Sells 199 Shares of Vulcan Materials Company $VMC

Fifth Third Bancorp trimmed its position in shares of Vulcan Materials Company (NYSE:VMC) by 4.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,477 shares of the construction company’s stock after selling 199 shares during the quarter. Fifth Third Bancorp’s holdings in Vulcan Materials were worth $1,168,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Brighton Jones LLC bought a new position in Vulcan Materials in the 4th quarter worth about $497,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Vulcan Materials by 22.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,120 shares of the construction company’s stock valued at $2,860,000 after purchasing an additional 2,034 shares during the period. Wellington Management Group LLP grew its stake in Vulcan Materials by 5.6% in the fourth quarter. Wellington Management Group LLP now owns 969 shares of the construction company’s stock worth $249,000 after purchasing an additional 51 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Vulcan Materials by 18.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 851 shares of the construction company’s stock worth $199,000 after purchasing an additional 131 shares during the period. Finally, Moody National Bank Trust Division increased its holdings in Vulcan Materials by 5.8% during the 1st quarter. Moody National Bank Trust Division now owns 2,876 shares of the construction company’s stock worth $671,000 after purchasing an additional 157 shares during the period. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

Shares of Vulcan Materials stock opened at $299.28 on Monday. Vulcan Materials Company has a one year low of $215.08 and a one year high of $302.21. The company has a market capitalization of $39.54 billion, a PE ratio of 41.80, a P/E/G ratio of 2.44 and a beta of 0.86. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67. The company has a 50-day simple moving average of $287.89 and a two-hundred day simple moving average of $266.71.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.20). The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.35 EPS. Research analysts expect that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 14th. Vulcan Materials’s dividend payout ratio is currently 27.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on VMC shares. Citigroup reiterated a “buy” rating and issued a $321.00 target price (up from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Royal Bank Of Canada decreased their price objective on Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating for the company in a report on Friday, August 1st. Morgan Stanley lowered their price objective on shares of Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating for the company in a research note on Monday, July 28th. JPMorgan Chase & Co. raised their target price on shares of Vulcan Materials from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, August 26th. Finally, Barclays boosted their price target on shares of Vulcan Materials from $285.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $308.36.

Insider Activity at Vulcan Materials

In other news, SVP David P. Clement sold 698 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $298.56, for a total value of $208,394.88. Following the completion of the sale, the senior vice president owned 2,832 shares of the company’s stock, valued at $845,521.92. This trade represents a 19.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

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 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.