State of Michigan Retirement System Sells 200 Shares of Vulcan Materials (NYSE:VMC)

State of Michigan Retirement System lowered its stake in shares of Vulcan Materials (NYSE:VMC) by 0.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 36,176 shares of the construction company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Vulcan Materials were worth $8,996,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Independent Advisor Alliance raised its holdings in shares of Vulcan Materials by 1.2% in 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. Cetera Advisors LLC increased its stake in shares of Vulcan Materials by 118.1% during the 1st quarter. Cetera Advisors LLC now owns 4,146 shares of the construction company’s stock worth $1,132,000 after purchasing an additional 2,245 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Vulcan Materials by 621.1% in the 1st quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock worth $64,581,000 after purchasing an additional 203,166 shares during the period. Mather Group LLC. grew its holdings in Vulcan Materials by 16.1% during the second quarter. Mather Group LLC. now owns 491 shares of the construction company’s stock valued at $134,000 after purchasing an additional 68 shares during the period. Finally, Raymond James & Associates increased its position in Vulcan Materials by 3.0% in the second quarter. Raymond James & Associates now owns 202,539 shares of the construction company’s stock worth $50,367,000 after buying an additional 5,979 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Stock Performance

Vulcan Materials stock opened at $240.41 on Wednesday. The company has a market capitalization of $31.79 billion, a PE ratio of 35.10, a P/E/G ratio of 2.25 and a beta of 0.82. The firm has a fifty day simple moving average of $251.30 and a two-hundred day simple moving average of $257.56. 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.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.47 by ($0.12). The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.29 EPS. Research analysts expect that Vulcan Materials will post 7.9 EPS for the current year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.84 annualized dividend and a dividend yield of 0.77%. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

Insider Activity at Vulcan Materials

In other news, SVP David P. Clement sold 1,000 shares of Vulcan Materials stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $249.50, for a total transaction of $249,500.00. Following the sale, the senior vice president now owns 1,660 shares of the company’s stock, valued at approximately $414,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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