Home Federal Bank of Tennessee Sells 1,649 Shares of Vulcan Materials Company $VMC

Key Points

• Home Federal Bank of Tennessee decreased its holdings in Vulcan Materials by 31.6%, selling 1,649 shares during the second quarter, leaving it with 3,571 shares worth approximately $931,000.
• Vulcan Materials has received mixed analyst ratings, with price targets ranging from $279.00 to $330.00, and an average rating of "Buy" reflecting positive market sentiment.
• The company recently announced a $0.49 quarterly dividend, which represents an annual yield of 0.7% and indicates a payout ratio of 27.37%.

Home Federal Bank of Tennessee cut its holdings in Vulcan Materials Company (NYSE:VMC - Free Report) by 31.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,571 shares of the construction company's stock after selling 1,649 shares during the quarter. Home Federal Bank of Tennessee's holdings in Vulcan Materials were worth $931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of VMC. Opal Wealth Advisors LLC bought a new stake in shares of Vulcan Materials in the first quarter worth about $27,000. Manchester Capital Management LLC grew its stake in shares of Vulcan Materials by 26.9% in 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 during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Vulcan Materials in the first quarter worth about $45,000. Rakuten Securities Inc. bought a new stake in shares of Vulcan Materials in the first quarter worth about $54,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Vulcan Materials by 866.7% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 232 shares of the construction company's stock worth $61,000 after purchasing an additional 208 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VMC has been the topic of several recent analyst reports. Barclays raised their target price on Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Royal Bank Of Canada cut their price objective on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Citigroup reaffirmed a "buy" rating and set a $321.00 price objective (up from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. Finally, Morgan Stanley cut their price objective on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a research report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $308.36.

Insider Transactions at Vulcan Materials

In related news, SVP David P. Clement sold 698 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $298.56, for a total value of $208,394.88. Following the transaction, the senior vice president directly owned 2,832 shares of the company's stock, valued at approximately $845,521.92. This represents a 19.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.61% of the company's stock.

Vulcan Materials Stock Down 0.5%

VMC stock opened at $297.36 on Wednesday. Vulcan Materials Company has a twelve month low of $215.08 and a twelve month high of $302.21. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. The firm has a market cap of $39.29 billion, a PE ratio of 41.53, a price-to-earnings-growth ratio of 2.44 and a beta of 0.86. The business has a 50 day moving average of $285.95 and a 200 day moving average of $264.94.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.65 by ($0.20). The business had revenue of $2.10 billion during 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 business's revenue 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. On average, research analysts forecast that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th were given a $0.49 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.96 annualized dividend and a yield of 0.7%. Vulcan Materials's dividend payout ratio is 27.37%.

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.

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