Howard Capital Management Group LLC Sells 1,180 Shares of Vulcan Materials Company $VMC

Key Points

• Howard Capital Management Group LLC reduced its holdings in Vulcan Materials Company by 0.8%, now owning 137,896 shares worth approximately $35.97 million.
• Vulcan Materials recently reported earnings of $2.45 per share for the last quarter, missing estimates, and had revenue of $2.10 billion, which was also below expectations.
• Several institutional investors increased their stakes in Vulcan Materials, with notable enhancements from Principal Financial Group Inc. and GAMMA Investing LLC, highlighting a significant interest from the investment community.

Howard Capital Management Group LLC trimmed its position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 137,896 shares of the construction company's stock after selling 1,180 shares during the period. Vulcan Materials comprises 2.5% of Howard Capital Management Group LLC's portfolio, making the stock its 14th largest position. Howard Capital Management Group LLC owned 0.10% of Vulcan Materials worth $35,966,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of VMC. Principal Financial Group Inc. raised its stake in shares of 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 valued at $1,518,291,000 after acquiring an additional 445,691 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Vulcan Materials by 11,723.8% during the first quarter. Jones Financial Companies Lllp now owns 425,538 shares of the construction company's stock valued at $99,278,000 after acquiring an additional 421,939 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Vulcan Materials by 29,580.1% during the first quarter. GAMMA Investing LLC now owns 398,010 shares of the construction company's stock valued at $92,856,000 after acquiring an additional 396,669 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Vulcan Materials by 5.6% during the first quarter. JPMorgan Chase & Co. now owns 6,967,777 shares of the construction company's stock valued at $1,625,583,000 after acquiring an additional 370,434 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Vulcan Materials during the first quarter valued at about $82,659,000. 90.39% of the stock is owned by institutional investors.

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 698 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $298.56, for a total transaction of $208,394.88. Following the sale, the senior vice president owned 2,832 shares in the company, valued at $845,521.92. This represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.62% of the company's stock.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $299.28 on Friday. Vulcan Materials Company has a fifty-two week low of $215.08 and a fifty-two week high of $302.21. The company has a 50 day simple moving average of $287.89 and a two-hundred day simple moving average of $266.15. The company has a market capitalization of $39.54 billion, a price-to-earnings ratio of 41.80, a P/E/G ratio of 2.41 and a beta of 0.86. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share 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 business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the business posted $2.35 EPS. Vulcan Materials's revenue for the quarter was up 4.4% on a year-over-year basis. Analysts expect that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.7%. Vulcan Materials's dividend payout ratio (DPR) is currently 27.37%.

Analysts Set New Price Targets

Several brokerages have commented on VMC. Royal Bank Of Canada lowered 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 report on Friday, August 1st. JPMorgan Chase & Co. raised their price objective on shares of Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. Citigroup reaffirmed a "buy" rating and issued a $321.00 price target (up from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Morgan Stanley reduced their price target on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a research note on Monday, July 28th. Finally, Barclays upped 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. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $308.36.

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.

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