Ascent Group LLC Lowers Stock Holdings in 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 trimmed its stake in Vulcan Materials Company (NYSE:VMC - Free Report) by 77.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,040 shares of the construction company's stock after selling 7,103 shares during the period. Ascent Group LLC's holdings in Vulcan Materials were worth $476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. United Services Automobile Association bought a new stake in shares of Vulcan Materials in the 1st quarter valued at about $747,000. Sciencast Management LP bought a new stake in shares of Vulcan Materials in the 1st quarter valued at about $1,273,000. Voleon Capital Management LP raised its holdings in shares of Vulcan Materials by 93.9% in the 1st quarter. Voleon Capital Management LP now owns 8,333 shares of the construction company's stock valued at $1,944,000 after purchasing an additional 4,036 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Vulcan Materials by 11,723.8% in the 1st quarter. Jones Financial Companies Lllp now owns 425,538 shares of the construction company's stock valued at $99,278,000 after purchasing an additional 421,939 shares in the last quarter. Finally, UniSuper Management Pty Ltd raised its holdings in shares of Vulcan Materials by 9.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 12,880 shares of the construction company's stock valued at $3,005,000 after purchasing an additional 1,079 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on VMC shares. JPMorgan Chase & Co. boosted their price target on shares of Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Royal Bank Of Canada reduced their price target on shares of Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a report on Friday, August 1st. UBS Group upgraded shares of Vulcan Materials from a "neutral" rating to a "buy" rating and boosted their price target for the company from $280.00 to $318.00 in a report on Friday, May 16th. Citigroup reaffirmed a "buy" rating and issued a $321.00 price objective (up previously from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. Finally, Barclays lifted their price objective on shares of Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Vulcan Materials currently has an average rating of "Buy" and a consensus target price of $308.36.

Vulcan Materials Stock Up 0.8%

Shares of Vulcan Materials stock opened at $294.77 on Thursday. The firm's 50 day moving average price is $280.71 and its 200-day moving average price is $261.37. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $299.29. The company has a market cap of $38.94 billion, a P/E ratio of 41.17, a PEG ratio of 2.39 and a beta of 0.86.

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

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders 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 payout ratio is currently 27.37%.

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.

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