Bessemer Group Inc. Sells 842,870 Shares of Vulcan Materials (NYSE:VMC)

Bessemer Group Inc. decreased its stake in shares of Vulcan Materials (NYSE:VMC) by 98.7% in the first quarter, Holdings Channel.com reports. The fund owned 11,372 shares of the construction company’s stock after selling 842,870 shares during the period. Bessemer Group Inc.’s holdings in Vulcan Materials were worth $3,104,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Independent Advisor Alliance lifted its position in Vulcan Materials by 1.2% during the fourth quarter. Independent Advisor Alliance now owns 6,411 shares of the construction company’s stock valued at $1,455,000 after purchasing an additional 73 shares during the last quarter. Strs Ohio lifted its position in Vulcan Materials by 6.3% during the fourth quarter. Strs Ohio now owns 74,103 shares of the construction company’s stock valued at $16,822,000 after purchasing an additional 4,412 shares during the last quarter. Nordea Investment Management AB lifted its position in Vulcan Materials by 621.1% during the first quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock valued at $64,581,000 after purchasing an additional 203,166 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in Vulcan Materials by 150.1% during the first quarter. Avantax Advisory Services Inc. now owns 4,006 shares of the construction company’s stock valued at $1,093,000 after purchasing an additional 2,404 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in Vulcan Materials by 4.2% during the fourth quarter. California State Teachers Retirement System now owns 229,757 shares of the construction company’s stock valued at $52,157,000 after purchasing an additional 9,193 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Up 2.2 %

Shares of NYSE:VMC traded up $5.42 during trading on Thursday, reaching $255.93. The stock had a trading volume of 212,886 shares, compared to its average volume of 762,459. Vulcan Materials has a one year low of $190.51 and a one year high of $276.58. The company has a market capitalization of $33.85 billion, a P/E ratio of 36.57, a PEG ratio of 2.17 and a beta of 0.82. The company has a current ratio of 2.74, a quick ratio of 1.81 and a debt-to-equity ratio of 0.44. The firm’s 50-day simple moving average is $252.10 and its 200 day simple moving average is $253.21.

Vulcan Materials (NYSE:VMC) last released its earnings results on Thursday, May 2nd. The construction company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.11). The company had revenue of $1.55 billion during the quarter, compared to analyst estimates 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 for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the business earned $0.95 earnings per share. As a group, research analysts expect that Vulcan Materials will post 8.32 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Thursday, August 15th. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

Analyst Upgrades and Downgrades

Several research firms have commented on VMC. Stephens increased their price objective on shares of Vulcan Materials from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Royal Bank of Canada increased their target price on shares of Vulcan Materials from $269.00 to $272.00 and gave the company a “sector perform” rating in a research note on Friday, May 3rd. Truist Financial increased their target price on shares of Vulcan Materials from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Jefferies Financial Group increased their target price on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Citigroup reduced their target price on shares of Vulcan Materials from $322.00 to $297.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $277.08.

Insider Buying and Selling

In related news, SVP David P. Clement sold 1,000 shares of Vulcan Materials stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $249.50, for a total value of $249,500.00. Following the completion of the sale, the senior vice president now directly owns 1,660 shares in the company, valued at approximately $414,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vulcan Materials news, President Thompson S. Baker II sold 8,600 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $272.95, for a total transaction of $2,347,370.00. Following the completion of the transaction, the president now directly owns 1,300 shares of the company’s stock, valued at approximately $354,835. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David P. Clement sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $249.50, for a total transaction of $249,500.00. Following the transaction, the senior vice president now directly owns 1,660 shares of the company’s stock, valued at $414,170. The disclosure for this sale can be found here. Insiders sold 17,210 shares of company stock worth $4,653,520 in the last three months. Corporate insiders own 0.62% of the company’s stock.

About Vulcan Materials

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.