Ceredex Value Advisors LLC Has $19.49 Million Holdings in Vulcan Materials Company $VMC

Key Points

• Ceredex Value Advisors cut its stake in Vulcan Materials by 42.5% during the third quarter and now owns 63,350 shares worth about $19.49 million after selling 46,875 shares.
• Vulcan missed quarterly earnings (EPS $1.70 vs. $2.11 expected) and reported revenue of $1.91 billion versus $1.95 billion consensus, while the company has a market cap near $35.8 billion and a trailing PE of 33.77.
• The board raised the quarterly dividend to $0.52 (annualized $2.08, ~0.8% yield), and insiders sold a total of 8,937 shares worth roughly $2.69 million over the last quarter.

Ceredex Value Advisors LLC cut its holdings in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 42.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,350 shares of the construction company's stock after selling 46,875 shares during the period. Ceredex Value Advisors LLC's holdings in Vulcan Materials were worth $19,488,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VMC. Westside Investment Management Inc. boosted its stake in Vulcan Materials by 100.0% in the third quarter. Westside Investment Management Inc. now owns 84 shares of the construction company's stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Vulcan Materials in the third quarter valued at $29,000. Atlantic Union Bankshares Corp bought a new position in shares of Vulcan Materials in the second quarter valued at about $32,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Vulcan Materials in the third quarter valued at about $42,000. Finally, Bayforest Capital Ltd acquired a new position in Vulcan Materials during the 3rd quarter worth about $46,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Melissa H. Anderson sold 1,137 shares of the business's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $303.72, for a total transaction of $345,329.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Thompson S. Baker II sold 7,135 shares of the company's stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $300.81, for a total value of $2,146,279.35. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 8,937 shares of company stock worth $2,687,784. Insiders own 0.61% of the company's stock.

Vulcan Materials Price Performance

VMC opened at $274.22 on Tuesday. The company has a fifty day moving average price of $304.00 and a two-hundred day moving average price of $297.54. The firm has a market capitalization of $35.81 billion, a PE ratio of 33.77, a P/E/G ratio of 2.02 and a beta of 1.05. Vulcan Materials Company has a 52 week low of $215.08 and a 52 week high of $331.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.97 and a current ratio of 2.69.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The construction company reported $1.70 earnings per share for the quarter, missing analysts' consensus estimates of $2.11 by ($0.41). Vulcan Materials had a net margin of 13.56% and a return on equity of 12.56%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the company earned $2.17 EPS. The business's revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, analysts anticipate that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Monday, March 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 9th. This is a positive change from Vulcan Materials's previous quarterly dividend of $0.49. This represents a $2.08 annualized dividend and a yield of 0.8%. Vulcan Materials's payout ratio is currently 24.14%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on VMC shares. Citigroup raised their price objective on shares of Vulcan Materials from $345.00 to $365.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. Royal Bank Of Canada reduced their target price on shares of Vulcan Materials from $316.00 to $296.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 18th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $320.00 price target (down from $335.00) on shares of Vulcan Materials in a research note on Wednesday, March 4th. Morgan Stanley boosted their price objective on shares of Vulcan Materials from $321.00 to $322.00 and gave the stock an "equal weight" rating in a research report on Monday. Finally, DA Davidson reduced their price objective on Vulcan Materials from $330.00 to $320.00 and set a "neutral" rating on the stock in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $326.29.

Vulcan Materials 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.

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