Assenagon Asset Management S.A. Sells 42,752 Shares of Vulcan Materials Company $VMC

Assenagon Asset Management S.A. cut its position in Vulcan Materials Company (NYSE:VMC - Free Report) by 19.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,771 shares of the construction company's stock after selling 42,752 shares during the quarter. Assenagon Asset Management S.A. owned about 0.13% of Vulcan Materials worth $51,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in Vulcan Materials in the fourth quarter valued at approximately $497,000. NewEdge Advisors LLC increased its stake in Vulcan Materials by 3.9% in the first quarter. NewEdge Advisors LLC now owns 4,359 shares of the construction company's stock valued at $1,017,000 after acquiring an additional 163 shares during the last quarter. Empowered Funds LLC raised its position in Vulcan Materials by 6.3% during the first quarter. Empowered Funds LLC now owns 3,195 shares of the construction company's stock valued at $745,000 after purchasing an additional 190 shares in the last quarter. Focus Partners Wealth raised its position in Vulcan Materials by 28.5% during the first quarter. Focus Partners Wealth now owns 3,321 shares of the construction company's stock valued at $775,000 after purchasing an additional 736 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Vulcan Materials by 31.5% during the first quarter. Geneos Wealth Management Inc. now owns 334 shares of the construction company's stock worth $78,000 after purchasing an additional 80 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VMC. Citigroup cut their price objective on Vulcan Materials from $355.00 to $350.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Stephens increased their price target on shares of Vulcan Materials from $330.00 to $340.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Weiss Ratings reissued a "buy (b-)" rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. Berenberg Bank set a $283.00 price objective on shares of Vulcan Materials and gave the stock a "hold" rating in a report on Tuesday, June 2nd. Finally, Oppenheimer assumed coverage on shares of Vulcan Materials in a report on Thursday, May 28th. They set a "market perform" rating on the stock. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, Vulcan Materials currently has an average rating of "Moderate Buy" and an average target price of $327.93.

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 2,212 shares of Vulcan Materials stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $292.29, for a total transaction of $646,545.48. Following the completion of the transaction, the senior vice president directly owned 8,716 shares in the company, valued at approximately $2,547,599.64. This trade represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.65% of the company's stock.

Vulcan Materials Stock Up 1.1%

Shares of NYSE:VMC opened at $284.59 on Friday. The firm has a market capitalization of $36.88 billion, a P/E ratio of 33.60, a P/E/G ratio of 2.05 and a beta of 1.06. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.20 and a current ratio of 1.76. The stock has a 50 day moving average price of $289.57 and a 200-day moving average price of $289.13. Vulcan Materials Company has a 52-week low of $252.35 and a 52-week high of $331.09.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The firm's revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.42 earnings per share. As a group, equities research analysts anticipate that Vulcan Materials Company will post 9.29 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. Vulcan Materials's dividend payout ratio (DPR) is currently 24.56%.

Vulcan Materials Company Profile

Vulcan Materials Company NYSE: VMC is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company's primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source