Keybank National Association OH Trims Stake in Vulcan Materials Company $VMC

Keybank National Association OH lowered its position in Vulcan Materials Company (NYSE:VMC) by 11.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,239 shares of the construction company’s stock after selling 9,718 shares during the period. Keybank National Association OH’s holdings in Vulcan Materials were worth $20,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of VMC. Atria Investments Inc grew its position in shares of Vulcan Materials by 54.1% during the 4th quarter. Atria Investments Inc now owns 12,334 shares of the construction company’s stock worth $3,518,000 after buying an additional 4,331 shares in the last quarter. Swiss Life Asset Management Ltd raised its holdings in shares of Vulcan Materials by 67.8% in the third quarter. Swiss Life Asset Management Ltd now owns 14,320 shares of the construction company’s stock valued at $4,405,000 after acquiring an additional 5,787 shares in the last quarter. Interval Partners LP raised its holdings in shares of Vulcan Materials by 82.9% in the third quarter. Interval Partners LP now owns 152,645 shares of the construction company’s stock valued at $46,957,000 after acquiring an additional 69,189 shares in the last quarter. Lone Pine Capital LLC purchased a new stake in Vulcan Materials in the third quarter worth about $425,938,000. Finally, Russell Investments Group Ltd. lifted its stake in Vulcan Materials by 57.2% in the third quarter. Russell Investments Group Ltd. now owns 155,291 shares of the construction company’s stock worth $47,759,000 after acquiring an additional 56,475 shares during the period. Institutional investors own 90.39% of the company’s stock.

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of Vulcan Materials stock in a transaction on Monday, June 15th. The shares were sold at an average price of $292.29, for a total value of $646,545.48. Following the transaction, the senior vice president directly owned 8,716 shares of the company’s stock, valued at approximately $2,547,599.64. The trade was a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Vulcan Materials Stock Performance

Shares of Vulcan Materials stock opened at $303.45 on Friday. The company has a market capitalization of $39.38 billion, a PE ratio of 36.08, a P/E/G ratio of 2.19 and a beta of 1.05. The company has a 50-day simple moving average of $286.49 and a two-hundred day simple moving average of $290.89. Vulcan Materials Company has a one year low of $252.35 and a one year high of $331.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.59.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the business earned $1.00 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. Research analysts expect that Vulcan Materials Company will post 9.27 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, May 22nd. Vulcan Materials’s dividend payout ratio (DPR) is 24.73%.

Analyst Upgrades and Downgrades

A number of research firms have commented on VMC. Raymond James Financial set a $325.00 target price on shares of Vulcan Materials in a research report on Thursday, April 30th. Wells Fargo & Company increased their price objective on shares of Vulcan Materials from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Berenberg Bank set a $283.00 price objective on shares of Vulcan Materials and gave the company a “hold” rating in a report on Tuesday, June 2nd. Royal Bank Of Canada reduced their price objective on shares of Vulcan Materials from $298.00 to $293.00 and set a “sector perform” rating for the company in a research note on Tuesday. Finally, Morgan Stanley lowered their target price on Vulcan Materials from $322.00 to $321.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Seven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $326.54.

About Vulcan Materials

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.