Allspring Global Investments Holdings LLC Sells 259,873 Shares of Vulcan Materials Company $VMC

Allspring Global Investments Holdings LLC trimmed its stake in Vulcan Materials Company (NYSE:VMC) by 15.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,391,006 shares of the construction company’s stock after selling 259,873 shares during the period. Vulcan Materials comprises approximately 0.7% of Allspring Global Investments Holdings LLC’s investment portfolio, making the stock its 19th biggest position. Allspring Global Investments Holdings LLC’s holdings in Vulcan Materials were worth $389,663,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. 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 during the period. Swiss Life Asset Management Ltd lifted its position in shares of Vulcan Materials by 67.8% during the 3rd 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 during the period. Y.D. More Investments Ltd bought a new position in Vulcan Materials during the fourth quarter worth $1,318,000. CIBC Bancorp USA Inc. bought a new position in Vulcan Materials during the third quarter worth $22,104,000. Finally, North Dakota State Investment Board acquired a new stake in Vulcan Materials in the fourth quarter worth $1,293,000. 90.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VMC shares. Stephens lifted their price target on shares of Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Citigroup cut their price objective on shares of Vulcan Materials from $365.00 to $355.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. UBS Group reduced their target price on Vulcan Materials from $350.00 to $349.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. Finally, Royal Bank Of Canada cut their price target on Vulcan Materials from $298.00 to $293.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 30th. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $327.79.

Vulcan Materials Price Performance

Shares of NYSE:VMC opened at $293.46 on Friday. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. The stock’s fifty day simple moving average is $286.47 and its two-hundred day simple moving average is $290.98. Vulcan Materials Company has a 1-year low of $252.35 and a 1-year high of $331.09. The stock has a market cap of $38.08 billion, a PE ratio of 34.89, a price-to-earnings-growth ratio of 2.09 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.25. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the business posted $1.00 EPS. The business’s revenue was up 7.4% compared to the same quarter last year. As a group, analysts forecast that Vulcan Materials Company will post 9.27 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. Vulcan Materials’s dividend payout ratio (DPR) is currently 24.73%.

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 2,212 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $292.29, for a total value of $646,545.48. Following the completion of the transaction, the senior vice president directly owned 8,716 shares of the company’s stock, valued at $2,547,599.64. This represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by insiders.

Vulcan Materials 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.