1248 Management LLC Sells 4,152 Shares of Vulcan Materials Company $VMC

1248 Management LLC reduced its stake in shares of Vulcan Materials Company (NYSE:VMC) by 97.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122 shares of the construction company’s stock after selling 4,152 shares during the quarter. 1248 Management LLC’s holdings in Vulcan Materials were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Alliancebernstein L.P. grew its stake in Vulcan Materials by 5.8% during the third quarter. Alliancebernstein L.P. now owns 163,975 shares of the construction company’s stock valued at $50,442,000 after acquiring an additional 8,936 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Vulcan Materials by 2.7% during the third quarter. Ameriprise Financial Inc. now owns 344,723 shares of the construction company’s stock valued at $106,043,000 after purchasing an additional 9,225 shares in the last quarter. Creative Planning grew its position in shares of Vulcan Materials by 184.8% during the third quarter. Creative Planning now owns 74,558 shares of the construction company’s stock valued at $22,936,000 after purchasing an additional 48,378 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Vulcan Materials by 1.3% in the third quarter. Lazard Asset Management LLC now owns 32,217 shares of the construction company’s stock worth $9,911,000 after purchasing an additional 414 shares during the last quarter. Finally, SummitTX Capital L.P. increased its holdings in shares of Vulcan Materials by 1,661.3% in the third quarter. SummitTX Capital L.P. now owns 23,196 shares of the construction company’s stock worth $7,136,000 after purchasing an additional 21,879 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

VMC has been the subject of a number of research reports. Citigroup increased their price target on Vulcan Materials from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Morgan Stanley lifted their price objective on Vulcan Materials from $321.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Monday, March 9th. Wall Street Zen cut Vulcan Materials from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Truist Financial increased their target price on Vulcan Materials from $320.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Finally, B. Riley Financial began coverage on shares of Vulcan Materials in a report on Thursday, January 15th. They issued a “buy” rating and a $345.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $326.29.

Insider Buying and Selling at Vulcan Materials

In other news, Director Melissa H. Anderson sold 1,137 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $303.72, for a total value of $345,329.64. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.62% of the company’s stock.

Vulcan Materials Trading Up 0.6%

Shares of VMC stock opened at $265.50 on Friday. The company has a market cap of $34.67 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. Vulcan Materials Company has a 1 year low of $218.87 and a 1 year high of $331.09. The stock’s 50 day simple moving average is $302.31 and its two-hundred day simple moving average is $296.81. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.69 and a quick ratio of 1.97.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Tuesday, February 17th. The construction company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.41). The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Vulcan Materials had a return on equity of 12.56% and a net margin of 13.56%.Vulcan Materials’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.17 EPS. Research analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Monday, March 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.49. The ex-dividend date is Monday, March 9th. Vulcan Materials’s dividend payout ratio (DPR) is presently 25.62%.

Vulcan Materials 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.