Hsbc Holdings PLC Sells 29,538 Shares of Vulcan Materials Company $VMC

Key Points

• Hsbc Holdings PLC has reduced its stake in Vulcan Materials Company by 11.2%, selling 29,538 shares during the first quarter, leaving it with 233,728 shares valued at approximately $54.29 million.
• The construction company announced a quarterly dividend of $0.49 per share, which will be paid on September 3rd, representing an annualized yield of 0.7%.
• Vulcan Materials recently reported earnings of $2.45 per share for the last quarter, missing estimates, with a revenue of $2.1 billion, below the expected $2.23 billion.

Hsbc Holdings PLC reduced its stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 11.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 233,728 shares of the construction company's stock after selling 29,538 shares during the quarter. Hsbc Holdings PLC owned about 0.18% of Vulcan Materials worth $54,291,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Quantbot Technologies LP bought a new position in shares of Vulcan Materials during the first quarter valued at approximately $1,726,000. Qtron Investments LLC grew its stake in shares of Vulcan Materials by 76.7% during the first quarter. Qtron Investments LLC now owns 2,299 shares of the construction company's stock valued at $536,000 after buying an additional 998 shares during the last quarter. Aptus Capital Advisors LLC grew its stake in shares of Vulcan Materials by 3.9% during the first quarter. Aptus Capital Advisors LLC now owns 7,372 shares of the construction company's stock valued at $1,720,000 after buying an additional 276 shares during the last quarter. Brooklyn Investment Group grew its stake in shares of Vulcan Materials by 11.2% during the first quarter. Brooklyn Investment Group now owns 980 shares of the construction company's stock valued at $229,000 after buying an additional 99 shares during the last quarter. Finally, Valley Brook Capital Group Inc. grew its stake in shares of Vulcan Materials by 51.7% during the first quarter. Valley Brook Capital Group Inc. now owns 1,585 shares of the construction company's stock valued at $370,000 after buying an additional 540 shares during the last quarter. Institutional investors own 90.39% of the company's stock.

Vulcan Materials Stock Up 0.7%

Shares of NYSE:VMC opened at $288.32 on Friday. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $298.31. The stock has a market cap of $38.09 billion, a P/E ratio of 40.27, a price-to-earnings-growth ratio of 2.34 and a beta of 0.83. The business's 50 day moving average is $271.73 and its 200 day moving average is $259.05. 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 earnings per share for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). The company had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.35 EPS. Sell-side analysts predict that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.49 per share. 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 dividend payout ratio is currently 27.37%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VMC. Citigroup reaffirmed a "buy" rating and set a $321.00 target price (up previously from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Raymond James Financial cut their target price on Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Barclays upped their target price on Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Stephens set a $315.00 price objective on Vulcan Materials and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus increased their price objective on Vulcan Materials from $287.00 to $309.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Vulcan Materials presently has an average rating of "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.

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