Bank of America Corp DE Sells 30,446 Shares of Vulcan Materials Company $VMC

Key Points

• Bank of America reduced its Vulcan Materials stake by 1.3%, selling 30,446 shares in the first quarter but retaining 2.26 million shares worth approximately $614.1 million. Institutional investors own 90.39% of the company.
• Vulcan Materials beat quarterly earnings expectations, reporting $2.59 in EPS and $2.16 billion in revenue, with revenue up 2.5% year over year.
• The company declared a quarterly dividend of $0.52 per share, or $2.08 annually, representing a 0.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $327.93.

Bank of America Corp DE trimmed its position in Vulcan Materials Company (NYSE:VMC - Free Report) by 1.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,255,080 shares of the construction company's stock after selling 30,446 shares during the quarter. Bank of America Corp DE owned about 1.74% of Vulcan Materials worth $614,058,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. NBT Bank N A NY bought a new position in shares of Vulcan Materials in the fourth quarter worth about $26,000. 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, Godsey & Gibb Inc. acquired a new stake in Vulcan Materials in the 4th quarter valued at approximately $30,000. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Stock Performance

VMC opened at $268.98 on Friday. The stock's 50 day simple moving average is $288.48 and its 200-day simple moving average is $289.87. The company has a current ratio of 1.76, a quick ratio of 1.89 and a debt-to-equity ratio of 0.47. The stock has a market cap of $34.85 billion, a PE ratio of 31.76, a P/E/G ratio of 1.93 and a beta of 1.05. Vulcan Materials Company has a 1 year low of $252.35 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th will be 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 is Thursday, August 13th. Vulcan Materials's dividend payout ratio (DPR) is presently 24.56%.

Analyst Ratings Changes

Several research analysts have commented on VMC shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Vulcan Materials in a research report on Tuesday, July 7th. Oppenheimer began coverage on shares of Vulcan Materials in a research note on Thursday, May 28th. They issued a "market perform" rating on the stock. Citigroup dropped their target price on shares of Vulcan Materials from $355.00 to $350.00 and set a "buy" rating on the stock in a research report on Thursday. Wells Fargo & Company cut their target price on shares of Vulcan Materials from $310.00 to $305.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 8th. Finally, 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 report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, Vulcan Materials has a consensus rating of "Moderate Buy" and an average price target 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 dated Monday, June 15th. The shares were sold at an average price of $292.29, for a total transaction of $646,545.48. Following the sale, the senior vice president directly owned 8,716 shares in the company, valued at approximately $2,547,599.64. The trade was a 20.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.65% of the company's stock.

About Vulcan Materials

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.

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