Citigroup Inc. Has $42.89 Million Holdings in Vulcan Materials Company $VMC

Citigroup Inc. lowered its stake in shares of Vulcan Materials Company (NYSE:VMC) by 9.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 139,436 shares of the construction company’s stock after selling 14,606 shares during the period. Citigroup Inc. owned approximately 0.11% of Vulcan Materials worth $42,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Westside Investment Management Inc. boosted its stake in Vulcan Materials by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Greykasell Wealth Strategies Inc. bought a new stake in Vulcan Materials in the third quarter valued at approximately $29,000. Atlantic Union Bankshares Corp acquired a new stake in Vulcan Materials in the second quarter worth $32,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Vulcan Materials during the third quarter worth $42,000. Finally, Bayforest Capital Ltd bought a new position in shares of Vulcan Materials during the third quarter worth $46,000. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Stock Up 2.3%

VMC stock opened at $317.89 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.69 and a quick ratio of 1.97. The stock has a market capitalization of $41.51 billion, a P/E ratio of 39.15, a P/E/G ratio of 2.28 and a beta of 1.07. Vulcan Materials Company has a fifty-two week low of $215.08 and a fifty-two week high of $331.09. The business has a 50-day moving average of $303.25 and a 200-day moving average of $297.21.

Vulcan Materials (NYSE:VMC) last released its earnings results on Tuesday, February 17th. The construction company reported $1.70 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.41). The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.95 billion. Vulcan Materials had a net margin of 13.56% and a return on equity of 12.56%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.17 EPS. On average, sell-side analysts anticipate that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 9th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, March 9th. Vulcan Materials’s payout ratio is 24.14%.

Analyst Upgrades and Downgrades

VMC has been the topic of several research analyst reports. Royal Bank Of Canada dropped their price objective on Vulcan Materials from $316.00 to $296.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 18th. Citigroup increased their price target on Vulcan Materials from $342.00 to $345.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Stifel Nicolaus set a $327.00 price objective on Vulcan Materials in a report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Vulcan Materials in a research report on Tuesday, January 27th. Finally, Wells Fargo & Company lowered their target price on Vulcan Materials from $317.00 to $315.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $323.64.

Insider Activity at Vulcan Materials

In other Vulcan Materials news, President Thompson S. Baker II sold 7,135 shares of Vulcan Materials stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $300.81, for a total value of $2,146,279.35. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Denson N. Franklin III sold 665 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $295.00, for a total transaction of $196,175.00. Following the sale, the senior vice president directly owned 8,284 shares in the company, valued at $2,443,780. This trade represents a 7.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 8,937 shares of company stock valued at $2,687,784. Corporate insiders own 0.61% of the company’s stock.

Vulcan Materials Company Profile

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.