Handelsbanken Fonder AB Has $21.90 Million Stake in Vulcan Materials Company $VMC

Key Points

• Handelsbanken Fonder AB cut its Vulcan Materials stake by 8.6% in the fourth quarter, but still held 76,769 shares valued at about $21.9 million.
• Vulcan Materials reported strong quarterly results, with EPS of $1.35 beating estimates and revenue of $1.76 billion topping expectations, while sales rose 7.4% year over year.
• The company declared a quarterly dividend of $0.52 per share, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $330.58.

Handelsbanken Fonder AB decreased its position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,769 shares of the construction company's stock after selling 7,191 shares during the period. Handelsbanken Fonder AB owned 0.06% of Vulcan Materials worth $21,896,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VMC. Lone Pine Capital LLC acquired a new position in Vulcan Materials during the 3rd quarter worth $425,938,000. Principal Financial Group Inc. lifted its position in Vulcan Materials by 5.8% during the 3rd quarter. Principal Financial Group Inc. now owns 7,625,271 shares of the construction company's stock worth $2,345,703,000 after acquiring an additional 414,828 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Vulcan Materials by 993.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 396,628 shares of the construction company's stock worth $113,126,000 after acquiring an additional 360,368 shares during the last quarter. Freestone Grove Partners LP acquired a new position in Vulcan Materials during the 3rd quarter worth $98,911,000. Finally, Vanguard Group Inc. lifted its position in Vulcan Materials by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 17,207,183 shares of the construction company's stock worth $5,293,274,000 after acquiring an additional 311,539 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Insider Transactions at Vulcan Materials

In related news, Director Melissa H. Anderson sold 1,137 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $303.72, for a total value of $345,329.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is owned by company insiders.

Vulcan Materials Stock Performance

NYSE:VMC opened at $263.06 on Thursday. The firm's 50-day moving average is $279.12 and its 200-day moving average is $291.37. Vulcan Materials Company has a 52-week low of $252.35 and a 52-week high of $331.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.59. The company has a market cap of $34.13 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 1.88 and a beta of 1.09.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.25. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The business had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter in the previous year, the firm posted $1.00 earnings per share. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts anticipate that Vulcan Materials Company will post 9.29 earnings per share for the current year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, May 22nd. Vulcan Materials's dividend payout ratio is 24.73%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on VMC shares. JPMorgan Chase & Co. restated a "neutral" rating and set a $320.00 price objective (down from $335.00) on shares of Vulcan Materials in a report on Wednesday, March 4th. Raymond James Financial set a $325.00 price objective on shares of Vulcan Materials in a report on Thursday, April 30th. Royal Bank Of Canada boosted their price objective on shares of Vulcan Materials from $296.00 to $298.00 and gave the stock a "sector perform" rating in a report on Thursday, April 30th. Truist Financial boosted their price objective on shares of Vulcan Materials from $320.00 to $360.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. Finally, Stifel Nicolaus set a $333.00 price objective on shares of Vulcan Materials in a report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $330.58.

About Vulcan Materials

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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