Vulcan Materials Company $VMC Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in Vulcan Materials Company (NYSE:VMC) by 12.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,650,879 shares of the construction company’s stock after selling 239,047 shares during the quarter. Vulcan Materials accounts for 0.8% of Allspring Global Investments Holdings LLC’s investment portfolio, making the stock its 12th largest position. Allspring Global Investments Holdings LLC owned approximately 1.25% of Vulcan Materials worth $483,130,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Westside Investment Management Inc. boosted its stake in shares of 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 in the last quarter. Greykasell Wealth Strategies Inc. purchased a new position in Vulcan Materials in the 3rd quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC acquired a new position in Vulcan Materials during the third quarter worth $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Vulcan Materials during the third quarter worth $42,000. Finally, Bayforest Capital Ltd purchased a new stake in Vulcan Materials during the third quarter worth $46,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Citigroup upped their target price on Vulcan Materials from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Vulcan Materials in a research note on Tuesday, January 27th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $320.00 price objective (down from $335.00) on shares of Vulcan Materials in a research note on Wednesday, March 4th. Zacks Research downgraded shares of Vulcan Materials from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 11th. Finally, Truist Financial lifted their target price on shares of Vulcan Materials from $320.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $326.29.

Insider Buying and Selling

In related news, Director Melissa H. Anderson sold 1,137 shares of the stock in a transaction dated Friday, February 20th. The stock was 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 Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

Vulcan Materials Trading Up 2.0%

Vulcan Materials stock opened at $266.65 on Tuesday. The stock has a 50-day moving average price of $293.64 and a 200 day moving average price of $294.53. Vulcan Materials Company has a 52 week low of $218.87 and a 52 week high of $331.09. The stock has a market cap of $34.79 billion, a PE ratio of 32.84, a P/E/G ratio of 1.82 and a beta of 1.05. The company has a current ratio of 2.69, a quick ratio of 1.97 and a debt-to-equity ratio of 0.51.

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

Vulcan Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Monday, March 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, March 9th. Vulcan Materials’s payout ratio 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.