New Mexico Educational Retirement Board Sells 1,100 Shares of Vulcan Materials Company (VMC)
New Mexico Educational Retirement Board cut its stake in shares of Vulcan Materials Company (NYSE:VMC) by 8.2% during the second quarter, Holdings Channel reports. The fund owned 12,319 shares of the construction company’s stock after selling 1,100 shares during the period. New Mexico Educational Retirement Board’s holdings in Vulcan Materials were worth $1,517,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in VMC. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Vulcan Materials during the first quarter valued at approximately $105,000. NN Investment Partners Holdings N.V. boosted its stake in shares of Vulcan Materials by 25.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 994 shares of the construction company’s stock valued at $126,000 after buying an additional 200 shares during the last quarter. Korea Investment CORP boosted its stake in shares of Vulcan Materials by 140.5% in the second quarter. Korea Investment CORP now owns 1,229 shares of the construction company’s stock valued at $156,000 after buying an additional 718 shares during the last quarter. Alexandria Capital LLC boosted its stake in shares of Vulcan Materials by 32.3% in the first quarter. Alexandria Capital LLC now owns 1,230 shares of the construction company’s stock valued at $148,000 after buying an additional 300 shares during the last quarter. Finally, NEXT Financial Group Inc boosted its stake in shares of Vulcan Materials by 405.7% in the first quarter. NEXT Financial Group Inc now owns 1,497 shares of the construction company’s stock valued at $181,000 after buying an additional 1,201 shares during the last quarter. 85.60% of the stock is owned by institutional investors and hedge funds.
Shares of Vulcan Materials Company (NYSE:VMC) opened at 114.20 on Friday. Vulcan Materials Company has a 12 month low of $105.71 and a 12 month high of $138.18. The firm’s 50-day moving average price is $124.82 and its 200-day moving average price is $123.74. The company has a market cap of $15.11 billion, a PE ratio of 36.77 and a beta of 0.93.
Vulcan Materials (NYSE:VMC) last announced its earnings results on Wednesday, August 2nd. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.22 by $0.32. Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted $0.90 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts predict that Vulcan Materials Company will post $3.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 23rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, August 21st. Vulcan Materials’s dividend payout ratio is presently 32.36%.
Several equities research analysts recently commented on the company. Zacks Investment Research cut Vulcan Materials from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Stephens raised Vulcan Materials from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $140.00 to $145.00 in a research note on Thursday, August 3rd. BidaskClub cut Vulcan Materials from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Royal Bank Of Canada reissued a “buy” rating and issued a $154.00 price target on shares of Vulcan Materials in a research note on Monday, June 19th. Finally, Argus boosted their price target on Vulcan Materials from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Vulcan Materials presently has an average rating of “Hold” and a consensus price target of $139.67.
In other Vulcan Materials news, insider Stanley G. Bass sold 4,413 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $132.00, for a total transaction of $582,516.00. Following the transaction, the insider now owns 21,939 shares of the company’s stock, valued at approximately $2,895,948. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ejaz A. Khan sold 2,024 shares of the business’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 value of $253,607.20. The disclosure for this sale can be found here. In the last three months, insiders 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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