Engineers Gate Manager LP Sells 17,685 Shares of Vulcan Materials Company $VMC

Key Points

• Engineers Gate Manager LP cut its Vulcan Materials stake by 90.3%, selling 17,685 shares in the second quarter and retaining 1,896 shares valued at approximately $559,000.
• Vulcan Materials reported quarterly EPS of $2.59, exceeding analyst expectations of $2.46, while revenue rose 2.5% year over year to $2.16 billion. The company also paid a quarterly dividend of $0.52 per share, representing a 0.8% yield.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $325 target price; recent actions included downgrades from Citigroup and Wells Fargo, alongside a reiterated “Buy” rating from DA Davidson.

Engineers Gate Manager LP reduced its holdings in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 90.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,896 shares of the construction company's stock after selling 17,685 shares during the quarter. Engineers Gate Manager LP's holdings in Vulcan Materials were worth $559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of VMC. BlackRock Inc. bought a new position in shares of Vulcan Materials during the 2nd quarter valued at $2,868,444,000. Bank of America Corp DE purchased a new position in shares of Vulcan Materials in the second quarter worth approximately $688,580,000. The Manufacturers Life Insurance Company purchased a new position in shares of Vulcan Materials in the second quarter worth approximately $451,119,000. Norges Bank purchased a new position in shares of Vulcan Materials during the 4th quarter worth $383,613,000. Finally, Stockbridge Partners LLC purchased a new position in shares of Vulcan Materials during the 2nd quarter worth $314,470,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Stock Performance

Shares of NYSE VMC opened at $247.76 on Wednesday. The company has a market cap of $32.11 billion, a P/E ratio of 29.25, a P/E/G ratio of 2.21 and a beta of 1.05. Vulcan Materials Company has a 52-week low of $240.69 and a 52-week high of $331.09. 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 firm's fifty day moving average is $271.10 and its two-hundred day moving average is $279.12.

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. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The business had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter last year, the business posted $2.42 EPS. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, analysts anticipate that Vulcan Materials Company will post 9.29 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, August 13th. Vulcan Materials's dividend payout ratio (DPR) is presently 24.56%.

Insider Activity at Vulcan Materials

In other Vulcan Materials news, Director J. Hill sold 14,000 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $276.17, for a total value of $3,866,380.00. Following the completion of the sale, the director owned 58,209 shares of the company's stock, valued at $16,075,579.53. This trade represents a 19.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David P. Clement sold 2,000 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $285.10, for a total value of $570,200.00. Following the transaction, the senior vice president directly owned 6,716 shares in the company, valued at approximately $1,914,731.60. This represents a 22.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VMC. BMO Capital Markets reaffirmed a "market perform" rating on shares of Vulcan Materials in a report on Monday. Citigroup cut Vulcan Materials from a "buy" rating to a "cautious" rating in a research report on Wednesday, September 9th. DA Davidson reaffirmed a "buy" rating and issued a $330.00 price objective on shares of Vulcan Materials in a research note on Monday. Wall Street Zen cut Vulcan Materials from a "hold" rating to a "sell" rating in a research report on Saturday, September 12th. Finally, Wells Fargo & Company downgraded Vulcan Materials from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $305.00 to $254.00 in a research note on Wednesday, September 9th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Vulcan Materials presently has a consensus rating of "Hold" and a consensus target price of $325.00.

About Vulcan Materials

Vulcan Materials Company NYSE: VMC is a major U.S. producer and supplier of construction materials. The company's primary business is aggregates, including crushed stone, sand and gravel, which are used in roads, bridges, buildings and other infrastructure projects.

Vulcan also produces and distributes asphalt and ready-mixed concrete, as well as calcium products used in construction, industrial and other applications. Its products are sold to public-sector customers, contractors, commercial developers and other businesses involved in construction and infrastructure development.

Founded in 1909 and headquartered in Birmingham, Alabama, Vulcan Materials has expanded through organic growth and acquisitions to operate production facilities, distribution terminals and related assets across much of the United States.

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.