Vulcan Materials Company $VMC Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 0.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 781,392 shares of the construction company’s stock after selling 3,427 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.60% of Vulcan Materials worth $212,773,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Atria Investments Inc lifted its position in shares of Vulcan Materials by 54.1% during the fourth quarter. Atria Investments Inc now owns 12,334 shares of the construction company’s stock worth $3,518,000 after purchasing an additional 4,331 shares during the last quarter. Swiss Life Asset Management Ltd increased its holdings in Vulcan Materials by 67.8% in the third quarter. Swiss Life Asset Management Ltd now owns 14,320 shares of the construction company’s stock valued at $4,405,000 after buying an additional 5,787 shares during the last quarter. Y.D. More Investments Ltd bought a new stake in Vulcan Materials in the fourth quarter valued at about $1,318,000. North Dakota State Investment Board acquired a new stake in Vulcan Materials during the fourth quarter valued at approximately $1,293,000. Finally, ABC Arbitrage SA acquired a new stake in Vulcan Materials during the fourth quarter valued at approximately $5,821,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VMC. UBS Group decreased their target price on Vulcan Materials from $350.00 to $349.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Berenberg Bank set a $283.00 price target on Vulcan Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. Wall Street Zen cut Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Wells Fargo & Company decreased their price objective on shares of Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. Finally, Stifel Nicolaus set a $333.00 target price on shares of Vulcan Materials in a research note on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $327.79.

Vulcan Materials Trading Down 1.6%

Shares of NYSE:VMC opened at $288.64 on Friday. The company has a market cap of $37.45 billion, a PE ratio of 34.32, a P/E/G ratio of 2.09 and a beta of 1.05. The company’s 50-day moving average price is $286.57 and its 200 day moving average price is $290.97. Vulcan Materials Company has a fifty-two week low of $252.35 and a fifty-two week high of $331.09. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.51.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Wednesday, April 29th. The construction company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.10 by $0.25. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. Vulcan Materials’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 EPS. Sell-side analysts anticipate that Vulcan Materials Company will post 9.23 earnings per share for the current year.

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, August 13th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, August 13th. Vulcan Materials’s dividend payout ratio (DPR) is currently 24.73%.

Insiders Place Their Bets

In other news, SVP David P. Clement sold 2,212 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $292.29, for a total value of $646,545.48. Following the completion of the transaction, the senior vice president owned 8,716 shares of the company’s stock, valued at approximately $2,547,599.64. This represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.65% of the stock is owned by insiders.

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.