HL Financial Services LLC Cuts Stake in Vulcan Materials Company (VMC)
HL Financial Services LLC decreased its position in Vulcan Materials Company (NYSE:VMC) by 16.4% during the second quarter, Holdings Channel reports. The firm owned 2,400 shares of the construction company’s stock after selling 470 shares during the period. HL Financial Services LLC’s holdings in Vulcan Materials were worth $304,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Candriam Luxembourg S.C.A. raised its position in shares of Vulcan Materials by 202.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 60,077 shares of the construction company’s stock worth $7,238,000 after buying an additional 40,200 shares during the period. Westwood Management Corp IL raised its position in shares of Vulcan Materials by 3.1% in the first quarter. Westwood Management Corp IL now owns 67,300 shares of the construction company’s stock worth $8,108,000 after buying an additional 2,000 shares during the period. Retirement Systems of Alabama raised its position in shares of Vulcan Materials by 1.1% in the first quarter. Retirement Systems of Alabama now owns 120,732 shares of the construction company’s stock worth $14,546,000 after buying an additional 1,268 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Vulcan Materials during the first quarter worth approximately $725,000. Finally, Ledyard National Bank bought a new position in shares of Vulcan Materials during the first quarter worth approximately $1,495,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.
Vulcan Materials Company (NYSE VMC) opened at 116.61 on Wednesday. The company’s 50-day moving average is $123.85 and its 200 day moving average is $123.32. The stock has a market capitalization of $15.42 billion, a price-to-earnings ratio of 37.54 and a beta of 0.93. Vulcan Materials Company has a one year low of $105.71 and a one year high of $138.18.
Vulcan Materials (NYSE:VMC) last announced its earnings results on Wednesday, August 2nd. The construction company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.22 by $0.32. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company earned $0.90 earnings per share. Vulcan Materials’s quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts expect that Vulcan Materials Company will post $3.46 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 23rd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, August 21st. Vulcan Materials’s payout ratio is currently 32.36%.
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A number of brokerages have recently commented on VMC. BidaskClub raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Argus lifted their price objective on shares of Vulcan Materials from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, June 9th. Zacks Investment Research raised shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a report on Tuesday, June 20th. Royal Bank Of Canada reissued a “buy” rating and set a $154.00 price objective on shares of Vulcan Materials in a report on Monday, June 19th. Finally, Citigroup Inc. reissued a “buy” rating on shares of Vulcan Materials in a report on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $139.67.
In related news, General Counsel Jerry F. Perkins, Jr. sold 306 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $132.00, for a total transaction of $40,392.00. Following the sale, the general counsel now directly owns 5,292 shares of the company’s stock, valued at approximately $698,544. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Ejaz A. Khan sold 2,024 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $125.30, for a total transaction of $253,607.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,743 shares of company stock worth $876,515. 0.89% of the stock is owned by insiders.
Vulcan Materials Company Profile
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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