Gulf International Bank UK Ltd Decreases Stake in Vulcan Materials Company (NYSE:VMC)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Vulcan Materials Company by 23.8%, selling 2,482 shares during the first quarter and now owns 7,929 shares valued at approximately $1.85 million.
• Vulcan Materials reported earnings per share of $2.45 for the last quarter, missing estimates by $0.20, and had a revenue of $2.10 billion, also below expectations.
• The company declared a quarterly dividend of $0.49 per share, with the ex-dividend date on August 14th, representing a 0.7% yield and a 27.37% payout ratio.

Gulf International Bank UK Ltd reduced its holdings in Vulcan Materials Company (NYSE:VMC - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,929 shares of the construction company's stock after selling 2,482 shares during the period. Gulf International Bank UK Ltd's holdings in Vulcan Materials were worth $1,849,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of VMC. Vanguard Group Inc. increased its position in Vulcan Materials by 2.1% during the first quarter. Vanguard Group Inc. now owns 16,699,662 shares of the construction company's stock worth $3,896,031,000 after purchasing an additional 347,155 shares during the last quarter. JPMorgan Chase & Co. increased its position in Vulcan Materials by 5.6% during the first quarter. JPMorgan Chase & Co. now owns 6,967,777 shares of the construction company's stock worth $1,625,583,000 after purchasing an additional 370,434 shares during the last quarter. Principal Financial Group Inc. increased its position in Vulcan Materials by 7.4% during the first quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company's stock worth $1,518,291,000 after purchasing an additional 445,691 shares during the last quarter. Stockbridge Partners LLC increased its position in Vulcan Materials by 11.3% during the fourth quarter. Stockbridge Partners LLC now owns 1,746,482 shares of the construction company's stock worth $449,248,000 after purchasing an additional 177,918 shares during the last quarter. Finally, Alkeon Capital Management LLC increased its position in Vulcan Materials by 54.1% during the fourth quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company's stock worth $329,769,000 after purchasing an additional 450,000 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Stock Down 0.4%

Shares of NYSE VMC traded down $1.23 during mid-day trading on Friday, hitting $291.87. The company had a trading volume of 789,091 shares, compared to its average volume of 1,040,831. The company has a market capitalization of $38.56 billion, a PE ratio of 40.76, a price-to-earnings-growth ratio of 2.38 and a beta of 0.83. The business's 50-day simple moving average is $269.74 and its 200 day simple moving average is $258.52. Vulcan Materials Company has a 1-year low of $215.08 and a 1-year high of $298.31. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13.

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

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th will be paid a $0.49 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. Vulcan Materials's payout ratio is currently 27.37%.

Analyst Ratings Changes

Several research firms recently issued reports on VMC. UBS Group upgraded shares of Vulcan Materials from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $280.00 to $318.00 in a research report on Friday, May 16th. Royal Bank Of Canada cut their price objective on shares of Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a research report on Friday, August 1st. Argus upgraded shares of Vulcan Materials to a "strong-buy" rating in a research report on Thursday, April 24th. Barclays boosted their price target on shares of Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Raymond James Financial reduced their price target on shares of Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Three research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $304.27.

Vulcan Materials 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.