Hudson Bay Capital Management LP Sells 13,113 Shares of Vulcan Materials Company $VMC

Hudson Bay Capital Management LP reduced its position in shares of Vulcan Materials Company (NYSE:VMC) by 29.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 31,367 shares of the construction company’s stock after selling 13,113 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Vulcan Materials were worth $9,649,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of VMC. Westside Investment Management Inc. lifted its stake in Vulcan Materials by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Greykasell Wealth Strategies Inc. bought a new position in shares of Vulcan Materials during the 3rd quarter worth approximately $29,000. Measured Wealth Private Client Group LLC bought a new position in shares of Vulcan Materials during the 3rd quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Vulcan Materials in the third quarter valued at approximately $42,000. Finally, Bayforest Capital Ltd acquired a new stake in shares of Vulcan Materials in the third quarter valued at approximately $46,000. 90.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on VMC shares. Truist Financial increased their target price on shares of Vulcan Materials from $320.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Citigroup boosted their price target on shares of Vulcan Materials from $345.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Zacks Research downgraded shares of Vulcan Materials from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 11th. Morgan Stanley lifted their target price on Vulcan Materials from $321.00 to $322.00 and gave the company an “equal weight” rating in a research report on Monday, March 9th. Finally, B. Riley Financial initiated coverage on Vulcan Materials in a report on Thursday, January 15th. They set a “buy” rating and a $345.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and an average target price of $326.29.

Insiders Place Their Bets

In other Vulcan Materials news, Director Melissa H. Anderson sold 1,137 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $303.72, for a total transaction of $345,329.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.62% of the company’s stock.

Vulcan Materials Trading Down 0.4%

Vulcan Materials stock opened at $256.82 on Friday. Vulcan Materials Company has a 52 week low of $218.87 and a 52 week high of $331.09. 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 has a market capitalization of $33.54 billion, a P/E ratio of 31.63, a PEG ratio of 1.80 and a beta of 1.05. The stock has a 50-day simple moving average of $299.48 and a 200 day simple moving average of $295.95.

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

Vulcan Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 9th will be paid a $0.52 dividend. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.49. The ex-dividend date is Monday, March 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. Vulcan Materials’s dividend payout ratio (DPR) 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.