Lazard Asset Management LLC Sells 186,263 Shares of Vulcan Materials (NYSE:VMC)

Lazard Asset Management LLC trimmed its holdings in shares of Vulcan Materials (NYSE:VMC) by 31.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 398,756 shares of the construction company’s stock after selling 186,263 shares during the period. Lazard Asset Management LLC owned about 0.30% of Vulcan Materials worth $108,828,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in VMC. Register Financial Advisors LLC purchased a new stake in Vulcan Materials during the first quarter valued at about $27,000. Opal Wealth Advisors LLC purchased a new stake in shares of Vulcan Materials during the first quarter worth about $33,000. YHB Investment Advisors Inc. purchased a new stake in shares of Vulcan Materials during the first quarter worth about $34,000. Concord Wealth Partners purchased a new stake in shares of Vulcan Materials during the first quarter worth about $34,000. Finally, Manchester Capital Management LLC raised its stake in Vulcan Materials by 1,218.2% in the first quarter. Manchester Capital Management LLC now owns 145 shares of the construction company’s stock worth $40,000 after buying an additional 134 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Stephens raised their target price on shares of Vulcan Materials from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Truist Financial raised 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. Citigroup decreased their target price on shares of Vulcan Materials from $322.00 to $297.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Jefferies Financial Group raised their price target on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Finally, Royal Bank of Canada raised their price target on shares of Vulcan Materials from $269.00 to $272.00 and gave the company a “sector perform” rating in a research report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.08.

Vulcan Materials Stock Performance

Shares of Vulcan Materials stock traded up $7.94 on Friday, hitting $261.71. 673,485 shares of the company’s stock were exchanged, compared to its average volume of 686,519. The company has a 50-day simple moving average of $252.03 and a 200-day simple moving average of $253.69. The stock has a market capitalization of $34.61 billion, a PE ratio of 38.21, a PEG ratio of 2.18 and a beta of 0.82. Vulcan Materials has a 1 year low of $190.51 and a 1 year high of $276.58. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.81 and a current ratio of 2.74.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.11). Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the business earned $0.95 EPS. The company’s revenue was down 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that Vulcan Materials will post 8.32 EPS for the current year.

Vulcan Materials Dividend Announcement

The company 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 dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, August 15th. Vulcan Materials’s dividend payout ratio (DPR) is 26.86%.

Insider Activity at Vulcan Materials

In other Vulcan Materials news, President Thompson S. Baker II sold 8,600 shares of Vulcan Materials stock in a transaction on Friday, May 10th. The shares were sold at an average price of $272.95, for a total value of $2,347,370.00. Following the sale, the president now directly owns 1,300 shares in the company, valued at approximately $354,835. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP David P. Clement sold 1,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $249.50, for a total value of $249,500.00. Following 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 legal filing with the SEC, which is accessible through this link. Also, President Thompson S. Baker II sold 8,600 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $272.95, for a total transaction of $2,347,370.00. Following the completion of the sale, the president now owns 1,300 shares in the company, valued at $354,835. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,210 shares of company stock worth $4,653,520. 0.62% of the stock is owned by corporate insiders.

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.