Gabelli Funds LLC Sells 300 Shares of Vulcan Materials (NYSE:VMC)

Gabelli Funds LLC lowered its position in Vulcan Materials (NYSE:VMC) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,200 shares of the construction company’s stock after selling 300 shares during the period. Gabelli Funds LLC’s holdings in Vulcan Materials were worth $8,386,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Vulcan Materials in the second quarter valued at approximately $225,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Vulcan Materials by 8.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 662,909 shares of the construction company’s stock valued at $149,446,000 after purchasing an additional 51,537 shares in the last quarter. Gardner Lewis Asset Management L P increased its holdings in shares of Vulcan Materials by 51.1% in the second quarter. Gardner Lewis Asset Management L P now owns 8,985 shares of the construction company’s stock valued at $2,026,000 after purchasing an additional 3,040 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Vulcan Materials by 7.8% in the second quarter. Russell Investments Group Ltd. now owns 58,774 shares of the construction company’s stock valued at $13,239,000 after purchasing an additional 4,277 shares in the last quarter. Finally, Moors & Cabot Inc. acquired a new stake in shares of Vulcan Materials in the second quarter valued at approximately $263,000. Institutional investors own 90.10% of the company’s stock.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $210.38 on Tuesday. The stock has a market capitalization of $27.95 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 1.33 and a beta of 0.78. The business has a 50-day moving average of $206.91 and a 200-day moving average of $210.76. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.13 and a quick ratio of 2.47. Vulcan Materials has a fifty-two week low of $159.76 and a fifty-two week high of $229.75.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Thursday, October 26th. The construction company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.10. Vulcan Materials had a return on equity of 12.35% and a net margin of 10.74%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter last year, the company earned $1.78 EPS. Vulcan Materials’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that Vulcan Materials will post 6.85 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Monday, November 13th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $1.72 annualized dividend and a yield of 0.82%. Vulcan Materials’s dividend payout ratio (DPR) is presently 27.88%.

Insiders Place Their Bets

In other Vulcan Materials news, Director Melissa H. Anderson sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $195.92, for a total transaction of $97,960.00. Following the completion of the sale, the director now directly owns 1,530 shares in the company, valued at $299,757.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Melissa H. Anderson sold 500 shares of Vulcan Materials stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $195.92, for a total value of $97,960.00. Following the transaction, the director now directly owns 1,530 shares of the company’s stock, valued at $299,757.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jerry F. Perkins, Jr. sold 4,575 shares of Vulcan Materials stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $209.64, for a total transaction of $959,103.00. Following the completion of the transaction, the senior vice president now directly owns 6,839 shares in the company, valued at $1,433,727.96. The disclosure for this sale can be found here. Insiders sold 5,863 shares of company stock worth $1,223,087 over the last three months. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on VMC shares. Royal Bank of Canada raised their price target on shares of Vulcan Materials from $212.00 to $236.00 and gave the company an “outperform” rating in a report on Friday, August 4th. JPMorgan Chase & Co. lifted their target price on shares of Vulcan Materials from $230.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, August 24th. StockNews.com began coverage on shares of Vulcan Materials in a report on Thursday, October 5th. They set a “hold” rating for the company. Truist Financial lifted their target price on shares of Vulcan Materials from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Finally, Raymond James lowered their target price on shares of Vulcan Materials from $240.00 to $225.00 and set an “outperform” rating for the company in a report on Monday, October 30th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $239.21.

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 Aggregates segment 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.