London Co. of Virginia Sells 33,439 Shares of Vulcan Materials Company $VMC

London Co. of Virginia reduced its position in Vulcan Materials Company (NYSE:VMC) by 4.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 689,665 shares of the construction company’s stock after selling 33,439 shares during the period. London Co. of Virginia’s holdings in Vulcan Materials were worth $212,156,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westside Investment Management Inc. grew its holdings in Vulcan Materials by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock valued at $25,000 after buying an additional 42 shares in the last quarter. Greykasell Wealth Strategies Inc. bought a new stake in Vulcan Materials in the 3rd quarter worth approximately $29,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Vulcan Materials during the 3rd quarter worth approximately $42,000. Bayforest Capital Ltd bought a new position in shares of Vulcan Materials during the 3rd quarter valued at approximately $46,000. Finally, Optiver Holding B.V. bought a new position in shares of Vulcan Materials during the 3rd quarter valued at approximately $49,000. 90.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on VMC shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $320.00 target price (down from $335.00) on shares of Vulcan Materials in a report on Wednesday, March 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Vulcan Materials in a research report on Tuesday, January 27th. Truist Financial lifted their price objective on shares of Vulcan Materials from $320.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Royal Bank Of Canada reduced their target price on shares of Vulcan Materials from $316.00 to $296.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 18th. Finally, Zacks Research cut shares of Vulcan Materials from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Vulcan Materials currently has an average rating of “Moderate Buy” and an average price target of $326.29.

Insider Buying and Selling

In related news, Director Melissa H. Anderson sold 1,137 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $303.72, for a total value of $345,329.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

Vulcan Materials Stock Performance

NYSE:VMC opened at $265.84 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.97 and a current ratio of 2.69. The stock’s fifty day moving average is $301.70 and its 200 day moving average is $296.67. The firm has a market capitalization of $34.71 billion, a PE ratio of 32.74, a PEG ratio of 1.85 and a beta of 1.05. Vulcan Materials Company has a fifty-two week low of $218.87 and a fifty-two week high of $331.09.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Tuesday, February 17th. The construction company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.41). Vulcan Materials had a net margin of 13.56% and a return on equity of 12.56%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the firm earned $2.17 EPS. The company’s revenue was up 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, March 9th. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.49. Vulcan Materials’s payout ratio is currently 25.62%.

Vulcan Materials Company Profile

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.