Vulcan Materials (NYSE:VMC) Shares Sold by Raymond James & Associates

Raymond James & Associates lowered its stake in shares of Vulcan Materials (NYSE:VMC) by 8.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 196,560 shares of the construction company’s stock after selling 18,336 shares during the quarter. Raymond James & Associates owned about 0.15% of Vulcan Materials worth $53,645,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. IFM Investors Pty Ltd increased its stake in shares of Vulcan Materials by 4.1% during the 1st quarter. IFM Investors Pty Ltd now owns 26,098 shares of the construction company’s stock valued at $7,123,000 after acquiring an additional 1,027 shares during the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of Vulcan Materials by 2.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 10,396 shares of the construction company’s stock worth $2,664,000 after purchasing an additional 281 shares during the period. First Trust Direct Indexing L.P. grew its holdings in shares of Vulcan Materials by 18.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 4,197 shares of the construction company’s stock worth $1,145,000 after purchasing an additional 649 shares during the period. State of Alaska Department of Revenue grew its holdings in shares of Vulcan Materials by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 14,416 shares of the construction company’s stock worth $3,934,000 after purchasing an additional 65 shares during the period. Finally, Oak Thistle LLC purchased a new stake in shares of Vulcan Materials during the 1st quarter worth about $336,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Trading Up 0.0 %

Shares of NYSE:VMC traded up $0.03 during midday trading on Friday, reaching $264.44. The company had a trading volume of 809,401 shares, compared to its average volume of 699,108. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.39 and a current ratio of 2.74. Vulcan Materials has a 1-year low of $187.20 and a 1-year high of $276.58. The firm has a market cap of $34.98 billion, a price-to-earnings ratio of 38.60, a price-to-earnings-growth ratio of 1.98 and a beta of 0.83. The company has a fifty day simple moving average of $265.53 and a two-hundred day simple moving average of $236.46.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.11). The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The firm’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. Research analysts predict that Vulcan Materials will post 8.45 earnings per share for the current year.

Vulcan Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.70%. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, March 1st. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VMC. Truist Financial upped their price target on Vulcan Materials from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $270.00 price target (up previously from $245.00) on shares of Vulcan Materials in a report on Friday, March 22nd. The Goldman Sachs Group upped their price target on Vulcan Materials from $264.00 to $292.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Raymond James upped their price target on Vulcan Materials from $225.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Citigroup upped their price target on Vulcan Materials from $263.00 to $322.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Vulcan Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.08.

Insider Activity at Vulcan Materials

In related news, Director Melissa H. Anderson sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $260.48, for a total value of $312,576.00. Following the transaction, the director now directly owns 330 shares of the company’s stock, valued at approximately $85,958.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Vulcan Materials news, Director Melissa H. Anderson sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $260.48, for a total value of $312,576.00. Following the sale, the director now owns 330 shares of the company’s stock, valued at approximately $85,958.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stanley G. Bass sold 8,310 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $251.68, for a total value of $2,091,460.80. Following the completion of the sale, the insider now directly owns 29,311 shares in the company, valued at approximately $7,376,992.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,017 shares of company stock valued at $3,344,741. Corporate insiders own 0.62% of the company’s stock.

Vulcan Materials Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.