Kestra Investment Management LLC Cuts Stock Holdings in Vulcan Materials Company $VMC

Key Points

• Kestra Investment Management LLC reduced its stake in Vulcan Materials Company by 59.3% in Q1, now holding 699 shares worth $163,000.
• Other institutional investors like Vanguard Group Inc. and JPMorgan Chase & Co. increased their holdings, with Vanguard owning over 16 million shares, valued at nearly $3.9 billion.
• Vulcan Materials reported earnings of $2.45 per share for the last quarter, falling short of the consensus estimate of $2.65, with a revenue of $2.10 billion.

Kestra Investment Management LLC lowered its position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 59.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 699 shares of the construction company's stock after selling 1,020 shares during the quarter. Kestra Investment Management LLC's holdings in Vulcan Materials were worth $163,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its holdings in shares of Vulcan Materials by 21.0% in the first quarter. Golden State Wealth Management LLC now owns 951 shares of the construction company's stock valued at $222,000 after buying an additional 165 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Vulcan Materials by 42.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,798 shares of the construction company's stock worth $3,686,000 after acquiring an additional 4,678 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Vulcan Materials by 24.3% during the first quarter. Exchange Traded Concepts LLC now owns 921 shares of the construction company's stock worth $215,000 after acquiring an additional 180 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Vulcan Materials by 27.2% in the first quarter. GAMMA Investing LLC now owns 1,706 shares of the construction company's stock valued at $398,000 after purchasing an additional 365 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Vulcan Materials by 5.6% in the fourth quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock valued at $249,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 90.39% of the company's stock.

Vulcan Materials Trading Down 0.1%

Shares of NYSE:VMC traded down $0.27 during mid-day trading on Monday, hitting $294.67. The company had a trading volume of 85,641 shares, compared to its average volume of 1,020,970. The firm has a fifty day moving average price of $281.99 and a 200 day moving average price of $262.23. The company has a market capitalization of $38.93 billion, a PE ratio of 41.18, a price-to-earnings-growth ratio of 2.41 and a beta of 0.86. 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 Company has a one year low of $215.08 and a one year high of $302.21.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings results 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). 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 during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the previous year, the business posted $2.35 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, research analysts forecast that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently commented on VMC. Citigroup restated 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. Barclays upped their price target on shares of Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a research note on Tuesday, August 26th. Morgan Stanley reduced their price objective on shares of 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, Royal Bank Of Canada reduced their price objective on shares of 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. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Vulcan Materials has a consensus rating of "Buy" and a consensus price target of $308.36.

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.