Vulcan Materials Company $VMC Stake Lessened by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. reduced its stake in Vulcan Materials Company by 9.7%, owning 146,503 shares valued at $34,179,000 after selling 15,708 shares in the first quarter.
• Investment analysts maintain a positive outlook on VMC, with the stock receiving a consensus rating of "Buy" and a price target of $308.36.
• Vulcan Materials announced a quarterly dividend of $0.49, which translates to an annualized yield of 0.6%, after recently reporting a miss in EPS expectations for the last quarter.

Alliancebernstein L.P. trimmed its holdings in Vulcan Materials Company (NYSE:VMC - Free Report) by 9.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,503 shares of the construction company's stock after selling 15,708 shares during the quarter. Alliancebernstein L.P. owned about 0.11% of Vulcan Materials worth $34,179,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in Vulcan Materials by 21.0% in the 1st quarter. Golden State Wealth Management LLC now owns 951 shares of the construction company's stock worth $222,000 after buying an additional 165 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Vulcan Materials by 42.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,798 shares of the construction company's stock valued at $3,686,000 after purchasing an additional 4,678 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Vulcan Materials by 24.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 921 shares of the construction company's stock valued at $215,000 after purchasing an additional 180 shares in the last quarter. GAMMA Investing LLC boosted its stake in Vulcan Materials by 27.2% during the 1st quarter. GAMMA Investing LLC now owns 1,706 shares of the construction company's stock valued at $398,000 after purchasing an additional 365 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Vulcan Materials by 5.6% during the 4th quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock valued at $249,000 after purchasing an additional 51 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

VMC has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a research note on Tuesday, August 26th. Citigroup reaffirmed a "buy" rating and set a $321.00 price target (up from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. UBS Group raised Vulcan Materials from a "neutral" rating to a "buy" rating and increased their price target for the company from $280.00 to $318.00 in a research note on Friday, May 16th. Barclays increased their price target on Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada decreased their price target on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $308.36.

Vulcan Materials Price Performance

Shares of NYSE:VMC traded up $7.35 on Thursday, reaching $301.78. 808,082 shares of the company traded hands, compared to its average volume of 1,028,858. Vulcan Materials Company has a fifty-two week low of $215.08 and a fifty-two week high of $302.22. The company's 50 day moving average is $280.71 and its 200-day moving average is $261.37. The stock has a market capitalization of $39.87 billion, a PE ratio of 42.15, a P/E/G ratio of 2.39 and a beta of 0.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13.

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

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th were issued a $0.49 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.6%. Vulcan Materials's dividend payout ratio 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.