Andra AP fonden Reduces Holdings in Vulcan Materials Company $VMC

Key Points

• Andra AP fonden cut its Vulcan Materials stake by 89.5% in the second quarter, selling 35,840 shares and retaining 4,187 shares valued at approximately $1.24 million. Institutional investors collectively own 90.39% of the company.
• Vulcan Materials reported quarterly EPS of $2.59, exceeding estimates of $2.46, while revenue rose 2.5% year over year to $2.16 billion. The company also announced a quarterly dividend of $0.52 per share, equivalent to a 0.9% annual yield.
• The stock opened at $241.69, near its 12-month low of $240.69, and analysts maintained a consensus “Hold” rating with an average price target of $325.00; Wells Fargo downgraded the shares to “underweight.”

Andra AP fonden reduced its stake in Vulcan Materials Company (NYSE:VMC - Free Report) by 89.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,187 shares of the construction company's stock after selling 35,840 shares during the period. Andra AP fonden's holdings in Vulcan Materials were worth $1,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Vulcan Materials during the 2nd quarter valued at about $2,868,444,000. SCS Capital Management LLC acquired a new position in shares of Vulcan Materials in the 2nd quarter worth approximately $19,628,000. Westfield Capital Management Co. LP raised its holdings in shares of Vulcan Materials by 7.4% in the 4th quarter. Westfield Capital Management Co. LP now owns 254,044 shares of the construction company's stock worth $72,459,000 after purchasing an additional 17,488 shares in the last quarter. Silvant Capital Management LLC bought a new stake in shares of Vulcan Materials in the 2nd quarter worth approximately $35,140,000. Finally, Family Legacy Inc. acquired a new stake in Vulcan Materials during the second quarter valued at approximately $6,403,000. 90.39% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director J. Hill sold 14,000 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $276.17, for a total transaction of $3,866,380.00. Following the completion of the sale, the director directly owned 58,209 shares in the company, valued at approximately $16,075,579.53. This trade represents a 19.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP David P. Clement sold 2,000 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $285.10, for a total transaction of $570,200.00. Following the transaction, the senior vice president directly owned 6,716 shares in the company, valued at $1,914,731.60. The trade was a 22.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.65% of the company's stock.

Vulcan Materials Trading Down 1.1%

NYSE VMC opened at $241.69 on Friday. The firm's 50 day moving average price is $269.17 and its two-hundred day moving average price is $278.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.20 and a current ratio of 1.76. Vulcan Materials Company has a twelve month low of $240.69 and a twelve month high of $331.09. The stock has a market cap of $31.32 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 2.23 and a beta of 1.05.

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 business had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter last year, the firm posted $2.42 earnings per share. Vulcan Materials's revenue was up 2.5% compared to the same quarter last year. Equities analysts anticipate that Vulcan Materials Company will post 9.22 EPS for the current year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, August 13th. This represents a $2.08 dividend on an annualized basis and a yield of 0.9%. Vulcan Materials's dividend payout ratio (DPR) is presently 24.56%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wells Fargo & Company lowered shares of Vulcan Materials from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $305.00 to $254.00 in a research report on Wednesday, September 9th. Oppenheimer assumed coverage on Vulcan Materials in a report on Thursday, May 28th. They issued a "market perform" rating on the stock. BMO Capital Markets reaffirmed a "market perform" rating on shares of Vulcan Materials in a research report on Monday. Royal Bank Of Canada upped their target price on Vulcan Materials from $293.00 to $300.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. Finally, DA Davidson reiterated a "buy" rating and issued a $330.00 price target on shares of Vulcan Materials in a research report on Monday. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $325.00.

About Vulcan Materials

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.

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