Vulcan Materials Company $VMC Shares Sold by 1248 Management LLC

Key Points

• 1248 Management LLC reduced its holdings in Vulcan Materials Company by 33.5%, selling 1,629 shares and bringing its total to 3,236 shares worth $755,000.
• Vulcan Materials has a market capitalization of $38.46 billion, reported $2.10 billion in revenue for the latest quarter, and fell short of analysts' EPS estimates.
• The company will pay a quarterly dividend of $0.49 to shareholders on record as of August 14, contributing to a 0.7% dividend yield.

1248 Management LLC cut its holdings in Vulcan Materials Company (NYSE:VMC - Free Report) by 33.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,236 shares of the construction company's stock after selling 1,629 shares during the quarter. 1248 Management LLC's holdings in Vulcan Materials were worth $755,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Vulcan Materials in the first quarter valued at $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Vulcan Materials in the fourth quarter valued at $46,000. Manchester Capital Management LLC lifted its position in shares of Vulcan Materials by 26.9% in the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock valued at $43,000 after acquiring an additional 39 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Vulcan Materials in the first quarter valued at $45,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of Vulcan Materials in the first quarter valued at $54,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VMC. Morgan Stanley reduced their price objective on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a research report on Monday, July 28th. JPMorgan Chase & Co. increased their target price on Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Royal Bank Of Canada reduced their target price on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. Citigroup reiterated a "buy" rating and set a $321.00 target price (up from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. Finally, UBS Group raised shares of Vulcan Materials from a "neutral" rating to a "buy" rating and increased their price target for the stock from $280.00 to $318.00 in a research note on Friday, May 16th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $308.36.

Vulcan Materials Trading Up 0.8%

Shares of Vulcan Materials stock traded up $2.31 during trading hours on Friday, reaching $294.64. The stock had a trading volume of 585,175 shares, compared to its average volume of 1,036,813. The firm has a 50 day simple moving average of $278.16 and a two-hundred day simple moving average of $260.46. The firm has a market capitalization of $38.93 billion, a price-to-earnings ratio of 41.15, a P/E/G ratio of 2.35 and a beta of 0.86. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. Vulcan Materials Company has a 1 year low of $215.08 and a 1 year high of $298.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $2.45 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.20). The company had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.23 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.35 earnings per share. As a group, equities research analysts anticipate that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 14th. Vulcan Materials's dividend payout ratio (DPR) is presently 27.37%.

Vulcan Materials Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.