ING Groep NV Decreases Stock Holdings in Vulcan Materials Company (NYSE:VMC)

Key Points

• ING Groep NV reduced its stake in Vulcan Materials Company (NYSE: VMC) by 54.2%, owning 25,563 shares after selling 30,304 shares, with holdings valued at approximately $5.96 million.
• Vulcan Materials reported earnings per share of $2.45, missing consensus estimates by $0.20, and total revenue of $2.10 billion, below the expected $2.23 billion, despite a year-over-year revenue increase of 4.4%.
• The company declared a quarterly dividend of $0.49 per share, with an annual yield of 0.7%, set to be paid on September 3rd to investors of record as of August 14th.

ING Groep NV decreased its position in Vulcan Materials Company (NYSE:VMC - Free Report) by 54.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,563 shares of the construction company's stock after selling 30,304 shares during the quarter. ING Groep NV's holdings in Vulcan Materials were worth $5,964,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets raised its stake in shares of Vulcan Materials by 239.8% in the fourth quarter. BNP Paribas Financial Markets now owns 739,003 shares of the construction company's stock worth $190,094,000 after buying an additional 521,508 shares during the period. Alkeon Capital Management LLC raised its stake in shares of Vulcan Materials by 54.1% in the fourth quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company's stock worth $329,769,000 after buying an additional 450,000 shares during the period. Principal Financial Group Inc. raised its stake in shares of Vulcan Materials by 7.4% in 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 buying an additional 445,691 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Vulcan Materials by 271.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 559,643 shares of the construction company's stock worth $143,957,000 after buying an additional 408,803 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Vulcan Materials by 29,580.1% in the first quarter. GAMMA Investing LLC now owns 398,010 shares of the construction company's stock worth $92,856,000 after buying an additional 396,669 shares during the period. Institutional investors own 90.39% of the company's stock.

Insider Buying and Selling

In related news, SVP David P. Clement sold 1,500 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $270.00, for a total transaction of $405,000.00. Following the completion of the transaction, the senior vice president owned 2,832 shares in the company, valued at $764,640. The trade was a 34.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is owned by insiders.

Vulcan Materials Price Performance

Shares of NYSE VMC traded up $4.82 during mid-day trading on Friday, hitting $286.92. 638,398 shares of the company's stock traded hands, compared to its average volume of 1,060,300. The company has a market capitalization of $37.91 billion, a P/E ratio of 40.07, a PEG ratio of 2.31 and a beta of 0.83. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13. The company's 50-day moving average is $267.06 and its two-hundred day moving average is $258.06. Vulcan Materials Company has a 1 year low of $215.08 and a 1 year high of $298.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $2.45 EPS for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). The company had revenue of $2.10 billion during 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%. Vulcan Materials's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.35 EPS. On average, equities analysts anticipate that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently commented on VMC shares. UBS Group raised 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 note on Friday, May 16th. Citigroup reissued 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. Argus raised Vulcan Materials to a "strong-buy" rating in a research note on Thursday, April 24th. Royal Bank Of Canada decreased their target price on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. Finally, Stifel Nicolaus lifted their target price on Vulcan Materials from $287.00 to $309.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Vulcan Materials has a consensus rating of "Moderate Buy" and an average price target of $304.27.

Vulcan Materials Company 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.