Massachusetts Financial Services Co. MA Sells 89,596 Shares of Vulcan Materials (NYSE:VMC)

Massachusetts Financial Services Co. MA trimmed its position in Vulcan Materials (NYSE:VMC) by 1.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 7,187,744 shares of the construction company’s stock after selling 89,596 shares during the period. Massachusetts Financial Services Co. MA owned about 5.43% of Vulcan Materials worth $1,787,448,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brown Brothers Harriman & Co. boosted its holdings in Vulcan Materials by 22.4% in the second quarter. Brown Brothers Harriman & Co. now owns 98,408 shares of the construction company’s stock valued at $24,472,000 after acquiring an additional 18,018 shares during the last quarter. Quilter Plc lifted its position in Vulcan Materials by 4.3% during the 2nd quarter. Quilter Plc now owns 4,913 shares of the construction company’s stock valued at $1,222,000 after purchasing an additional 203 shares during the period. WINTON GROUP Ltd boosted its stake in shares of Vulcan Materials by 192.2% in the 2nd quarter. WINTON GROUP Ltd now owns 8,917 shares of the construction company’s stock valued at $2,217,000 after purchasing an additional 5,865 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Vulcan Materials by 5.6% during the second quarter. Envestnet Asset Management Inc. now owns 250,428 shares of the construction company’s stock worth $62,276,000 after buying an additional 13,318 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Vulcan Materials by 9.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,485 shares of the construction company’s stock valued at $1,364,000 after buying an additional 494 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Price Performance

Shares of VMC opened at $237.47 on Monday. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.43. Vulcan Materials has a twelve month low of $190.51 and a twelve month high of $278.79. The stock has a market capitalization of $31.36 billion, a P/E ratio of 34.67, a P/E/G ratio of 2.19 and a beta of 0.82. The company has a 50 day moving average of $248.40 and a 200-day moving average of $256.15.

Vulcan Materials (NYSE:VMC) last released its earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $2.29 EPS. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities research analysts forecast that Vulcan Materials will post 7.73 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.84 annualized dividend and a yield of 0.77%. Vulcan Materials’s payout ratio is presently 26.86%.

Analysts Set New Price Targets

VMC has been the subject of several recent research reports. Stephens dropped their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada dropped their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Citigroup reduced their target price on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Truist Financial decreased their target price on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Loop Capital reduced their price objective on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Vulcan Materials currently has an average rating of “Moderate Buy” and a consensus target price of $274.73.

Vulcan Materials Company 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.