Vulcan Materials Company $VMC Shares Sold by Massachusetts Wealth Management

Massachusetts Wealth Management lowered its stake in shares of Vulcan Materials Company (NYSE:VMC) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,430 shares of the construction company’s stock after selling 165 shares during the quarter. Massachusetts Wealth Management’s holdings in Vulcan Materials were worth $1,416,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Castle Rock Wealth Management LLC acquired a new position in shares of Vulcan Materials during the 2nd quarter valued at about $1,005,000. Friedenthal Financial acquired a new stake in Vulcan Materials during the 2nd quarter worth approximately $978,000. Heck Capital Advisors LLC increased its position in Vulcan Materials by 7.6% during the 2nd quarter. Heck Capital Advisors LLC now owns 1,547 shares of the construction company’s stock worth $403,000 after purchasing an additional 109 shares in the last quarter. Fenimore Asset Management Inc increased its position in Vulcan Materials by 0.3% during the 2nd quarter. Fenimore Asset Management Inc now owns 665,852 shares of the construction company’s stock worth $173,668,000 after purchasing an additional 2,039 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its position in Vulcan Materials by 5.7% during the 2nd quarter. DAVENPORT & Co LLC now owns 11,317 shares of the construction company’s stock worth $2,952,000 after purchasing an additional 613 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

VMC has been the subject of a number of research analyst reports. Barclays increased their target price on shares of Vulcan Materials from $285.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Vulcan Materials in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Vulcan Materials from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 26th. Morgan Stanley dropped their target price on shares of Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating for the company in a research report on Monday, July 28th. Finally, Royal Bank Of Canada decreased their price target on Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating for the company in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $308.58.

Vulcan Materials Stock Up 1.2%

NYSE VMC opened at $304.43 on Thursday. The stock has a market cap of $40.22 billion, a PE ratio of 42.52, a P/E/G ratio of 2.46 and a beta of 0.92. Vulcan Materials Company has a fifty-two week low of $215.08 and a fifty-two week high of $309.17. The business has a 50 day moving average price of $293.20 and a two-hundred day moving average price of $270.02. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.20). The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.35 EPS. As a group, sell-side analysts predict that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, August 14th. Vulcan Materials’s dividend payout ratio is 27.37%.

Insider Activity at Vulcan Materials

In other news, SVP David P. Clement sold 698 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $298.56, for a total transaction of $208,394.88. Following the completion of the transaction, the senior vice president directly owned 2,832 shares in the company, valued at approximately $845,521.92. This represents a 19.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.62% of the company’s stock.

Vulcan Materials 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.