Amundi Sells 88,105 Shares of Vulcan Materials Company $VMC

Key Points

• Amundi reduced its Vulcan Materials stake by 17.8%, selling 88,105 shares in the second quarter and retaining 407,298 shares valued at approximately $120.2 million. Institutional investors and hedge funds own 90.39% of the company.
• Several Vulcan insiders also sold shares, including a director and senior vice president; insiders sold 18,212 shares worth about $5.1 million over the last quarter.
• Analyst sentiment is mixed, with the stock carrying a consensus “Hold” rating and a $325 average price target. Vulcan recently exceeded quarterly earnings and revenue expectations, while its shares opened at $249.71, near the company’s one-year low.

Amundi decreased its position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 17.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 407,298 shares of the construction company's stock after selling 88,105 shares during the period. Amundi owned 0.31% of Vulcan Materials worth $120,157,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Burkett Financial Services LLC bought a new position in shares of Vulcan Materials in the second quarter worth about $25,000. Measured Wealth Private Client Group LLC bought a new stake in Vulcan Materials during the 3rd quarter valued at approximately $30,000. Birchwood Financial Partners Inc. bought a new stake in Vulcan Materials during the 4th quarter valued at approximately $29,000. Meeder Asset Management Inc. grew its holdings in Vulcan Materials by 71.7% in the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company's stock valued at $28,000 after buying an additional 43 shares during the last quarter. Finally, Clearstead Trust LLC acquired a new stake in Vulcan Materials in the 2nd quarter valued at approximately $37,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director J. Hill sold 14,000 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $276.17, for a total value of $3,866,380.00. Following the completion of the transaction, the director owned 58,209 shares of the company's stock, valued at $16,075,579.53. This represents a 19.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP David P. Clement sold 2,000 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $285.10, for a total transaction of $570,200.00. Following the transaction, the senior vice president owned 6,716 shares of the company's stock, valued at approximately $1,914,731.60. This represents a 22.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 18,212 shares of company stock worth $5,083,125. 0.65% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Oppenheimer started coverage on Vulcan Materials in a report on Thursday, May 28th. They set a "market perform" rating for the company. Wells Fargo & Company downgraded shares of Vulcan Materials from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $305.00 to $254.00 in a research note on Wednesday. Berenberg Bank set a $283.00 target price on shares of Vulcan Materials and gave the stock a "hold" rating in a research report on Tuesday, June 2nd. DA Davidson started coverage on shares of Vulcan Materials in a research note on Tuesday, August 25th. They set a "buy" rating and a $330.00 target price for the company. Finally, UBS Group reduced their price target on shares of Vulcan Materials from $350.00 to $349.00 and set a "buy" rating for the company in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $325.00.

Vulcan Materials Stock Performance

VMC opened at $249.71 on Thursday. The stock's 50 day simple moving average is $279.88 and its 200-day simple moving average is $282.86. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47. The stock has a market cap of $32.36 billion, a PE ratio of 29.48, a P/E/G ratio of 2.32 and a beta of 1.05. Vulcan Materials Company has a 1 year low of $249.52 and a 1 year high of $331.09.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its earnings results on Wednesday, July 29th. The construction company reported $2.59 EPS for the quarter, topping the consensus estimate of $2.46 by $0.13. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same period last year, the business earned $2.42 earnings per share. Vulcan Materials's quarterly revenue was up 2.5% compared to the same quarter last year. Sell-side analysts forecast that Vulcan Materials Company will post 9.29 EPS for the current year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, August 13th. Vulcan Materials's dividend payout ratio (DPR) is presently 24.56%.

Vulcan Materials Company Profile

Vulcan Materials Company NYSE: VMC is a major U.S. producer and supplier of construction materials. The company's primary business is aggregates, including crushed stone, sand and gravel, which are used in roads, bridges, buildings and other infrastructure projects.

Vulcan also produces and distributes asphalt and ready-mixed concrete, as well as calcium products used in construction, industrial and other applications. Its products are sold to public-sector customers, contractors, commercial developers and other businesses involved in construction and infrastructure development.

Founded in 1909 and headquartered in Birmingham, Alabama, Vulcan Materials has expanded through organic growth and acquisitions to operate production facilities, distribution terminals and related assets across much of the United States.

Want to see what other hedge funds are holding VMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vulcan Materials Company (NYSE:VMC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.