Assenagon Asset Management S.A. Sells 52,435 Shares of Vulcan Materials Company $VMC

Assenagon Asset Management S.A. cut its holdings in Vulcan Materials Company (NYSE:VMC) by 59.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,260 shares of the construction company’s stock after selling 52,435 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Vulcan Materials were worth $11,154,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VMC. ORG Partners LLC lifted its holdings in shares of Vulcan Materials by 86.3% in the second quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock worth $25,000 after acquiring an additional 44 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in Vulcan Materials during the 2nd quarter worth approximately $32,000. Concord Wealth Partners acquired a new position in Vulcan Materials during the 2nd quarter worth approximately $33,000. Steph & Co. bought a new position in Vulcan Materials in the 2nd quarter valued at approximately $55,000. Finally, Clearstead Trust LLC boosted its position in Vulcan Materials by 71.7% in the second quarter. Clearstead Trust LLC now owns 218 shares of the construction company’s stock valued at $57,000 after buying an additional 91 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Up 1.3%

Shares of NYSE:VMC opened at $292.11 on Friday. The firm has a market cap of $38.60 billion, a P/E ratio of 34.69, a P/E/G ratio of 2.38 and a beta of 1.06. Vulcan Materials Company has a 12-month low of $215.08 and a 12-month high of $311.74. The business has a fifty day simple moving average of $292.18 and a 200 day simple moving average of $284.84. The company has a quick ratio of 1.56, a current ratio of 2.23 and a debt-to-equity ratio of 0.50.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.12. Vulcan Materials had a return on equity of 13.47% and a net margin of 14.19%.The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the prior year, the firm posted $2.22 earnings per share. The business’s quarterly revenue was up 14.4% on a year-over-year basis. Analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Monday, November 10th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, November 10th. Vulcan Materials’s dividend payout ratio is currently 23.28%.

Insiders Place Their Bets

In other news, SVP David P. Clement sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $288.55, for a total value of $577,100.00. Following the transaction, the senior vice president owned 832 shares in the company, valued at approximately $240,073.60. The trade was a 70.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Thompson S. Baker II sold 7,135 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $300.81, for a total transaction of $2,146,279.35. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 20,471 shares of company stock worth $6,054,615. 0.62% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on VMC shares. JPMorgan Chase & Co. upped their price target on shares of Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of Vulcan Materials in a research report on Thursday, October 30th. Raymond James Financial upped their target price on Vulcan Materials from $295.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Citigroup cut their price target on Vulcan Materials from $356.00 to $342.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Finally, Royal Bank Of Canada reduced their price target on Vulcan Materials from $279.00 to $278.00 and set a “sector perform” rating on the stock in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Vulcan Materials presently has a consensus rating of “Moderate Buy” and an average target price of $317.58.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.