Allspring Global Investments Holdings LLC Has $413.25 Million Holdings in Vulcan Materials Company (NYSE:VMC)

Allspring Global Investments Holdings LLC lessened its holdings in Vulcan Materials Company (NYSE:VMC - Free Report) by 9.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,741,703 shares of the construction company's stock after selling 179,948 shares during the quarter. Vulcan Materials makes up approximately 0.7% of Allspring Global Investments Holdings LLC's investment portfolio, making the stock its 18th largest position. Allspring Global Investments Holdings LLC owned 1.32% of Vulcan Materials worth $413,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in shares of Vulcan Materials in the fourth quarter valued at approximately $497,000. Private Advisor Group LLC boosted its holdings in Vulcan Materials by 1.6% in the 4th quarter. Private Advisor Group LLC now owns 5,274 shares of the construction company's stock valued at $1,357,000 after purchasing an additional 82 shares during the period. Bank of New York Mellon Corp boosted its holdings in Vulcan Materials by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 877,701 shares of the construction company's stock valued at $225,771,000 after purchasing an additional 13,227 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Vulcan Materials by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,334 shares of the construction company's stock valued at $2,915,000 after buying an additional 71 shares in the last quarter. Finally, New York Life Investment Management LLC raised its position in Vulcan Materials by 0.3% in the 4th quarter. New York Life Investment Management LLC now owns 19,618 shares of the construction company's stock worth $5,046,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 90.39% of the company's stock.

Vulcan Materials Stock Performance

Shares of VMC traded up $5.36 during mid-day trading on Friday, reaching $262.32. 2,119,857 shares of the company's stock were exchanged, compared to its average volume of 979,756. The stock has a market capitalization of $34.65 billion, a PE ratio of 37.21, a price-to-earnings-growth ratio of 2.29 and a beta of 0.84. The business's fifty day simple moving average is $262.42 and its 200-day simple moving average is $256.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.42 and a quick ratio of 1.51. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $298.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The construction company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.20. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. Vulcan Materials had a net margin of 12.50% and a return on equity of 12.91%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 EPS. On average, equities research analysts expect that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.96 annualized dividend and a yield of 0.75%. Vulcan Materials's payout ratio is 27.80%.

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $270.00, for a total transaction of $405,000.00. Following the sale, the senior vice president now owns 2,832 shares in the company, valued at $764,640. The trade was a 34.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

VMC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of Vulcan Materials from a "neutral" rating to an "overweight" rating and cut their price target for the stock from $290.00 to $285.00 in a report on Wednesday, March 19th. Citigroup reissued a "buy" rating on shares of Vulcan Materials in a research report on Monday, March 24th. Stifel Nicolaus boosted their price objective on shares of Vulcan Materials from $287.00 to $309.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Loop Capital dropped their price target on shares of Vulcan Materials from $325.00 to $320.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Finally, Stephens set a $315.00 price objective on Vulcan Materials and gave the company an "overweight" rating in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $302.91.

Vulcan Materials Company 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.