Choreo LLC Reduces Stock Holdings in Vulcan Materials Company (NYSE:VMC)

Key Points

• Choreo LLC has reduced its stake in Vulcan Materials Company by 21.9%, holding 5,166 shares worth $1,205,000 after selling 1,445 shares in the first quarter.
• Several institutional investors, including Korea Investment CORP and Mitsubishi UFJ Trust & Banking Corp, modified their positions in Vulcan Materials, contributing to a total of 90.39% of the company's stock being owned by hedge funds and institutional investors.
• Vulcan Materials recently declared a quarterly dividend of $0.49, yielding 0.71%, scheduled for payment to shareholders of record on August 14th.

Choreo LLC reduced its holdings in Vulcan Materials Company (NYSE:VMC - Free Report) by 21.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,166 shares of the construction company's stock after selling 1,445 shares during the period. Choreo LLC's holdings in Vulcan Materials were worth $1,205,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC boosted its position in Vulcan Materials by 2.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,791 shares of the construction company's stock valued at $461,000 after buying an additional 44 shares during the period. Alpha Omega Wealth Management LLC boosted its position in Vulcan Materials by 1.1% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 4,336 shares of the construction company's stock valued at $1,012,000 after buying an additional 46 shares during the period. Wellington Management Group LLP boosted its position in Vulcan Materials by 5.6% in the 4th quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock valued at $249,000 after buying an additional 51 shares during the period. Loomis Sayles & Co. L P boosted its position in Vulcan Materials by 18.9% in the 4th quarter. Loomis Sayles & Co. L P now owns 352 shares of the construction company's stock valued at $91,000 after buying an additional 56 shares during the period. Finally, Marks Group Wealth Management Inc boosted its position in Vulcan Materials by 2.7% in the 1st quarter. Marks Group Wealth Management Inc now owns 2,203 shares of the construction company's stock valued at $514,000 after buying an additional 57 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on VMC shares. Raymond James Financial lowered their price target on shares of Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Stephens set a $315.00 price target on shares of Vulcan Materials and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Loop Capital lowered their price target on shares of Vulcan Materials from $325.00 to $320.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Wolfe Research raised shares of Vulcan Materials from a "peer perform" rating to an "outperform" rating in a research report on Thursday, April 10th. Finally, Argus raised shares of Vulcan Materials to a "strong-buy" rating in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Vulcan Materials presently has a consensus rating of "Moderate Buy" and an average target price of $301.27.

Vulcan Materials Stock Performance

NYSE:VMC traded up $1.66 during trading hours on Tuesday, hitting $271.77. 231,698 shares of the company were exchanged, compared to its average volume of 1,049,413. The stock has a market capitalization of $35.90 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 2.47 and a beta of 0.82. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $298.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.42 and a quick ratio of 1.51. The company's 50 day moving average price is $265.09 and its 200-day moving average price is $257.17.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its earnings results on Wednesday, April 30th. The construction company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.20. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.64 billion. Vulcan Materials had a net margin of 12.50% and a return on equity of 12.91%. Vulcan Materials's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 EPS. As a group, research analysts forecast that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 0.72%. The ex-dividend date is Thursday, August 14th. Vulcan Materials's dividend payout ratio is presently 27.80%.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $270.00, for a total transaction of $405,000.00. Following the sale, the senior vice president owned 2,832 shares of the company's stock, valued at approximately $764,640. The trade was a 34.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.62% of the company's stock.

Vulcan Materials Company Profile

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.