Vulcan Materials Company (NYSE:VMC) Stake Lowered by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. lowered its position in Vulcan Materials Company (NYSE:VMC) by 2.0% during the second quarter, Holdings Channel reports. The institutional investor owned 81,304 shares of the construction company’s stock after selling 1,700 shares during the period. Pictet Asset Management Ltd.’s holdings in Vulcan Materials were worth $10,135,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Vulcan Materials during the first quarter worth $105,000. NN Investment Partners Holdings N.V. raised its position 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 worth $126,000 after buying an additional 200 shares in the last quarter. Korea Investment CORP raised its position 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 worth $156,000 after buying an additional 718 shares in the last quarter. Alexandria Capital LLC raised its position 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 worth $148,000 after buying an additional 300 shares in the last quarter. Finally, NEXT Financial Group Inc raised its position 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 worth $181,000 after buying an additional 1,201 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.
Vulcan Materials Company (NYSE:VMC) opened at 115.17 on Tuesday. Vulcan Materials Company has a 12 month low of $105.71 and a 12 month high of $138.18. The stock has a market capitalization of $15.23 billion, a price-to-earnings ratio of 37.08 and a beta of 0.93. The company has a 50 day moving average price of $124.33 and a 200 day moving average price of $123.45.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.90 EPS for the quarter, missing the 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 company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. Equities research analysts predict that Vulcan Materials Company will post $3.46 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Wednesday, August 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, August 21st. Vulcan Materials’s dividend payout ratio is currently 32.36%.
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A number of research analysts have weighed in on the company. Zacks Investment Research lowered Vulcan Materials from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Stephens raised Vulcan Materials from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $140.00 to $145.00 in a research note on Thursday, August 3rd. BidaskClub raised Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Royal Bank Of Canada reissued a “buy” rating and set a $154.00 price target on shares of Vulcan Materials in a research note on Monday, June 19th. Finally, Argus increased their price target on Vulcan Materials from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, June 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $139.67.
In other news, VP Ejaz A. Khan sold 2,024 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $125.30, for a total transaction of $253,607.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Jerry F. Perkins, Jr. sold 306 shares of the business’s stock in a transaction 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 transaction, the general counsel now owns 5,292 shares in the company, valued at $698,544. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,743 shares of company stock worth $876,515. 0.89% of the stock is currently owned by corporate 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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