Narwhal Capital Management Cuts Stake in Vulcan Materials Co. (VMC)
Narwhal Capital Management lowered its position in shares of Vulcan Materials Co. (NYSE:VMC) by 1.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 416,080 shares of the company’s stock after selling 5,243 shares during the period. Vulcan Materials accounts for approximately 15.7% of Narwhal Capital Management’s portfolio, making the stock its largest position. Narwhal Capital Management’s holdings in Vulcan Materials were worth $50,079,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Vulcan Materials by 31.8% in the first quarter. JPMorgan Chase & Co. now owns 4,109,166 shares of the company’s stock valued at $433,805,000 after buying an additional 991,253 shares during the period. Norges Bank purchased a new stake in Vulcan Materials during the fourth quarter valued at approximately $93,376,000. Capital Growth Management LP purchased a new stake in Vulcan Materials during the first quarter valued at approximately $56,480,000. Friess Associates LLC purchased a new stake in Vulcan Materials during the first quarter valued at approximately $16,629,000. Finally, Douglas Lane & Associates LLC purchased a new stake in Vulcan Materials during the first quarter valued at approximately $13,343,000. 86.71% of the stock is owned by hedge funds and other institutional investors.
Vulcan Materials Co. (NYSE:VMC) traded up 2.67% on Wednesday, reaching $109.96. The company’s stock had a trading volume of 1,196,955 shares. Vulcan Materials Co. has a 12 month low of $78.83 and a 12 month high of $127.20. The company has a market cap of $14.63 billion, a P/E ratio of 41.95 and a beta of 1.36. The stock’s 50 day moving average price is $115.36 and its 200 day moving average price is $114.23.
Vulcan Materials (NYSE:VMC) last released its earnings results on Monday, August 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.00 by $0.10. Vulcan Materials had a return on equity of 8.74% and a net margin of 9.85%. The business had revenue of $956.80 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company earned $0.35 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts forecast that Vulcan Materials Co. will post $3.42 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 24th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, August 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.73%. Vulcan Materials’s dividend payout ratio (DPR) is presently 30.65%.
Several equities research analysts have recently commented on VMC shares. Alembic Global Advisors started coverage on Vulcan Materials in a research note on Thursday, June 9th. They issued a “neutral” rating and a $125.00 target price for the company. Goldman Sachs Group Inc. cut Vulcan Materials from a “conviction-buy” rating to a “buy” rating and lifted their target price for the company from $128.00 to $146.00 in a research note on Wednesday, June 8th. Jefferies Group reissued a “hold” rating on shares of Vulcan Materials in a research note on Wednesday, August 31st. Royal Bank Of Canada lifted their target price on Vulcan Materials from $127.00 to $140.00 and gave the company an “outperform” rating in a research note on Tuesday, July 12th. Finally, Bank of America Corp. reissued a “buy” rating on shares of Vulcan Materials in a research note on Friday, June 17th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Vulcan Materials presently has a consensus rating of “Buy” and an average price target of $128.22.
In other news, insider David J. Grayson sold 2,025 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $118.77, for a total transaction of $240,509.25. Following the completion of the transaction, the insider now directly owns 18,637 shares in the company, valued at $2,213,516.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David B. Pasley sold 280 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $117.55, for a total transaction of $32,914.00. Following the transaction, the insider now owns 2,470 shares of the company’s stock, valued at $290,348.50. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.
About Vulcan Materials
Vulcan Materials Company is a producer of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company has four segments organized around its principal product lines: Aggregates, Asphalt Mix, Concrete and Calcium. The Company operates approximately 344 aggregates facilities.
Want to see what other hedge funds are holding VMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vulcan Materials Co. (NYSE:VMC).
Receive News & Ratings for Vulcan Materials Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vulcan Materials Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.