Vulcan Materials (NYSE:VMC) Holdings Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Vulcan Materials (NYSE:VMC) by 5.3% in the second quarter, Holdings Channel.com reports. The firm owned 888,496 shares of the construction company’s stock after selling 49,258 shares during the period. Bank of New York Mellon Corp’s holdings in Vulcan Materials were worth $220,951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Register Financial Advisors LLC purchased a new position in Vulcan Materials during the first quarter valued at approximately $27,000. Opal Wealth Advisors LLC acquired a new position in Vulcan Materials in the 1st quarter worth about $33,000. YHB Investment Advisors Inc. purchased a new stake in shares of Vulcan Materials during the 1st quarter worth about $34,000. Concord Wealth Partners acquired a new stake in shares of Vulcan Materials during the 1st quarter valued at about $34,000. Finally, Manchester Capital Management LLC increased its holdings 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 during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Stephens cut their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada lowered their target price on shares of 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. Truist Financial dropped their target price on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Loop Capital cut their price target on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, Citigroup dropped their target price on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and an average target price of $274.73.

Vulcan Materials Price Performance

VMC traded down $4.21 during midday trading on Monday, reaching $250.68. 447,623 shares of the company’s stock were exchanged, compared to its average volume of 796,868. Vulcan Materials has a one year low of $190.51 and a one year high of $278.79. The firm has a market capitalization of $33.15 billion, a price-to-earnings ratio of 36.77, a price-to-earnings-growth ratio of 2.25 and a beta of 0.82. The business has a 50-day simple moving average of $251.41 and a two-hundred day simple moving average of $257.47. 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 (NYSE:VMC) last posted its earnings results on Tuesday, August 6th. The construction company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.12). The company had revenue of $2.01 billion for 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%. Vulcan Materials’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.29 EPS. As a group, research analysts predict that Vulcan Materials will post 7.9 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. Stockholders of record on Thursday, August 15th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Thursday, August 15th. Vulcan Materials’s payout ratio is 26.86%.

Insider Buying and Selling

In related news, SVP David P. Clement sold 1,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $254.50, for a total transaction of $254,500.00. Following the completion of the sale, the senior vice president now owns 2,660 shares in the company, valued at approximately $676,970. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is currently owned by corporate 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.