Vulcan Materials Company (NYSE:VMC) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden has decreased its stake in Vulcan Materials Company by 22.4%, selling 7,400 shares, leaving it with 25,600 shares valued at approximately $5.97 million.
• Vulcan Materials reported a $2.45 EPS for the last quarter, missing estimates by $0.20, with revenues of $2.10 billion which also fell short of forecasts.
• The company has announced a quarterly dividend of $0.49 per share, representing an annualized payout of $1.96 and a yield of 0.7%.

Forsta AP Fonden lessened its stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 22.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,600 shares of the construction company's stock after selling 7,400 shares during the quarter. Forsta AP Fonden's holdings in Vulcan Materials were worth $5,972,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of VMC. Opal Wealth Advisors LLC acquired a new position in shares of Vulcan Materials during the first quarter worth about $27,000. Kapitalo Investimentos Ltda acquired a new position in shares of Vulcan Materials during the fourth quarter worth about $35,000. Manchester Capital Management LLC lifted its stake in shares of Vulcan Materials by 26.9% during the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock worth $43,000 after purchasing an additional 39 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Vulcan Materials during the first quarter worth about $45,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Vulcan Materials during the fourth quarter worth about $46,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Vulcan Materials Stock Performance

Shares of NYSE:VMC traded up $6.96 during trading on Tuesday, hitting $292.20. 1,070,324 shares of the company traded hands, compared to its average volume of 1,047,517. The stock has a market capitalization of $38.61 billion, a price-to-earnings ratio of 40.81, a PEG ratio of 2.33 and a beta of 0.83. The business's fifty day moving average is $268.04 and its 200-day moving average is $258.11. Vulcan Materials Company has a one year low of $215.08 and a one year high of $298.31. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its earnings results on Thursday, July 31st. The construction company reported $2.45 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.20). The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.23 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $2.35 earnings per share. As a group, equities analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. Vulcan Materials's dividend payout ratio is 27.37%.

Analyst Upgrades and Downgrades

Several research firms recently commented on VMC. Citigroup reiterated a "buy" rating and issued a $321.00 price target (up previously from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Barclays boosted their price target on Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Stephens set a $315.00 price target on Vulcan Materials and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Morgan Stanley decreased their price target on shares of Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating for the company in a research report on Monday, July 28th. Finally, UBS Group raised shares of Vulcan Materials from a "neutral" rating to a "buy" rating and raised their price target for the stock from $280.00 to $318.00 in a research report on Friday, May 16th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $304.27.

Insider Activity at Vulcan Materials

In other news, SVP David P. Clement sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $270.00, for a total transaction of $405,000.00. Following the completion of the transaction, the senior vice president directly owned 2,832 shares of the company's stock, valued at approximately $764,640. This represents a 34.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company's stock.

About Vulcan Materials

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.