Janney Montgomery Scott LLC Cuts Stock Holdings in Vulcan Materials Company $VMC

Key Points

• Janney Montgomery Scott LLC reduced its stake in Vulcan Materials by 7.1%, now holding 49,837 shares worth approximately $12.99 million after selling 3,784 shares in the 2nd quarter.
• Vulcan Materials Company reported $2.45 EPS for the last quarter, missing estimates, and experienced a 4.4% revenue increase year-over-year with total revenue of $2.10 billion.
• The company announced a quarterly dividend of $0.49 per share, with a current annualized yield of 0.6%, paid to shareholders on September 3rd.

Janney Montgomery Scott LLC trimmed its stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 7.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,837 shares of the construction company's stock after selling 3,784 shares during the period. Janney Montgomery Scott LLC's holdings in Vulcan Materials were worth $12,999,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Golden State Wealth Management LLC grew its stake in shares of Vulcan Materials by 21.0% in the 1st quarter. Golden State Wealth Management LLC now owns 951 shares of the construction company's stock worth $222,000 after buying an additional 165 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Vulcan Materials by 42.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,798 shares of the construction company's stock worth $3,686,000 after buying an additional 4,678 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Vulcan Materials by 24.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 921 shares of the construction company's stock worth $215,000 after buying an additional 180 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Vulcan Materials by 27.2% in the 1st quarter. GAMMA Investing LLC now owns 1,706 shares of the construction company's stock worth $398,000 after buying an additional 365 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Vulcan Materials by 5.6% in the 4th quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock worth $249,000 after buying an additional 51 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Trading Up 0.6%

Shares of VMC opened at $305.13 on Friday. Vulcan Materials Company has a 1-year low of $215.08 and a 1-year high of $309.17. The company has a 50-day moving average of $291.36 and a 200 day moving average of $268.67. The firm has a market capitalization of $40.31 billion, a price-to-earnings ratio of 42.62, a PEG ratio of 2.48 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the business earned $2.35 EPS. The company's quarterly revenue was up 4.4% compared to the same quarter last year. On average, research analysts expect that Vulcan Materials Company will post 8.69 EPS for the current 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 given 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 yield of 0.6%. Vulcan Materials's dividend payout ratio (DPR) is 27.37%.

Analyst Ratings Changes

A number of equities analysts have commented on VMC shares. Citigroup reissued a "buy" rating and issued a $321.00 price objective (up from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Weiss Ratings restated a "buy (b-)" rating on shares of Vulcan Materials in a report on Saturday, September 27th. Morgan Stanley lowered their target price on shares of Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating for the company in a report on Monday, July 28th. Royal Bank Of Canada lowered their target price 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. Finally, Barclays raised their target price on shares of Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Vulcan Materials currently has a consensus rating of "Buy" and an average price target of $308.36.

Insider Buying and Selling

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $298.56, for a total transaction of $208,394.88. Following the transaction, the senior vice president owned 2,832 shares of the company's stock, valued at approximately $845,521.92. This trade represents a 19.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.62% of the company's stock.

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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