New York State Common Retirement Fund Cuts Position in Vulcan Materials (NYSE:VMC)

New York State Common Retirement Fund decreased its holdings in Vulcan Materials (NYSE:VMC) by 8.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 125,801 shares of the construction company’s stock after selling 10,918 shares during the period. New York State Common Retirement Fund owned approximately 0.09% of Vulcan Materials worth $28,558,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of VMC. Exchange Traded Concepts LLC acquired a new stake in Vulcan Materials in the fourth quarter valued at approximately $28,000. Covestor Ltd grew its position in shares of Vulcan Materials by 273.4% during the third quarter. Covestor Ltd now owns 295 shares of the construction company’s stock worth $60,000 after buying an additional 216 shares in the last quarter. CVA Family Office LLC acquired a new stake in shares of Vulcan Materials during the fourth quarter worth approximately $62,000. MCF Advisors LLC grew its position in shares of Vulcan Materials by 22.4% during the fourth quarter. MCF Advisors LLC now owns 295 shares of the construction company’s stock worth $67,000 after buying an additional 54 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Vulcan Materials by 48.9% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 326 shares of the construction company’s stock worth $74,000 after buying an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on VMC. Royal Bank of Canada lifted their price objective on shares of Vulcan Materials from $236.00 to $269.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $270.00 target price (up from $245.00) on shares of Vulcan Materials in a research note on Friday, March 22nd. Citigroup raised their target price on Vulcan Materials from $263.00 to $322.00 and gave the company a “buy” rating in a research note on Friday, April 5th. The Goldman Sachs Group raised their target price on Vulcan Materials from $264.00 to $292.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Finally, Morgan Stanley initiated coverage on Vulcan Materials in a research note on Monday, January 8th. They issued an “equal weight” rating and a $208.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $273.00.

Vulcan Materials Trading Up 0.8 %

Shares of VMC opened at $258.54 on Friday. The business’s 50-day moving average price is $264.73 and its 200 day moving average price is $234.37. The stock has a market capitalization of $34.20 billion, a P/E ratio of 37.04, a P/E/G ratio of 1.86 and a beta of 0.83. Vulcan Materials has a 1-year low of $166.43 and a 1-year high of $276.58. The company has a current ratio of 3.17, a quick ratio of 2.39 and a debt-to-equity ratio of 0.52.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Friday, February 16th. The construction company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.06. Vulcan Materials had a return on equity of 12.80% and a net margin of 11.99%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the business posted $1.08 EPS. Vulcan Materials’s revenue was up 5.9% on a year-over-year basis. Analysts expect that Vulcan Materials will post 8.43 earnings per share for the current year.

Vulcan Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.71%. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, March 1st. Vulcan Materials’s payout ratio is currently 26.36%.

Insider Buying and Selling

In related news, SVP Denson N. Franklin III sold 3,200 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $269.48, for a total value of $862,336.00. Following the completion of the sale, the senior vice president now directly owns 5,395 shares in the company, valued at approximately $1,453,844.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Melissa H. Anderson sold 1,200 shares of the company’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 transaction of $312,576.00. Following the completion of the transaction, the director now directly owns 330 shares in the company, valued at $85,958.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Denson N. Franklin III sold 3,200 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total value of $862,336.00. Following the sale, the senior vice president now owns 5,395 shares in the company, valued at $1,453,844.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,017 shares of company stock worth $3,344,741. 0.62% of the stock is currently owned by insiders.

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.