Ascent Group LLC Sells 7,103 Shares of Vulcan Materials Company $VMC

Key Points

• Ascent Group LLC significantly reduced its stake in Vulcan Materials Company by 77.7%, now holding 2,040 shares valued at approximately $476,000.
• Vulcan Materials recently reported earnings per share (EPS) of $2.45, missing analysts' expectations of $2.65, with revenues of $2.10 billion for the quarter.
• Several analysts have raised their price targets for Vulcan Materials, with a consensus target price of $308.36 and a majority rating the stock as a "Buy."

Ascent Group LLC lowered its stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 77.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,040 shares of the construction company's stock after selling 7,103 shares during the quarter. Ascent Group LLC's holdings in Vulcan Materials were worth $476,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Morgan Stanley reduced their price target 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. Barclays raised their target price on Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Citigroup reaffirmed a "buy" rating and issued a $321.00 target price (up previously from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. JPMorgan Chase & Co. raised their target price on Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Finally, 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 report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $308.36.

Vulcan Materials Price Performance

Shares of NYSE VMC traded down $2.54 during mid-day trading on Tuesday, hitting $291.49. 112,027 shares of the stock traded hands, compared to its average volume of 1,018,739. 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 Company has a twelve month low of $215.08 and a twelve month high of $302.21. The company has a market cap of $38.51 billion, a PE ratio of 40.72, a price-to-earnings-growth ratio of 2.41 and a beta of 0.86. The firm has a 50 day simple moving average of $282.54 and a two-hundred day simple moving average of $262.55.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share (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 the consensus estimate of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The firm's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.35 earnings per share. As a group, equities research analysts forecast that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

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

Insider Transactions at Vulcan Materials

In related news, SVP David P. Clement sold 698 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $298.56, for a total transaction of $208,394.88. Following the completion of the transaction, the senior vice president directly owned 2,832 shares of the company's stock, valued at $845,521.92. This trade represents a 19.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.62% of the stock is currently owned by corporate insiders.

About Vulcan Materials

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.