Leavell Investment Management Inc. Reduces Stock Position in Vulcan Materials Company (NYSE:VMC)

Leavell Investment Management Inc. cut its holdings in Vulcan Materials Company (NYSE:VMC - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,190 shares of the construction company's stock after selling 2,155 shares during the period. Leavell Investment Management Inc.'s holdings in Vulcan Materials were worth $11,709,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VMC. Norges Bank acquired a new position in Vulcan Materials in the fourth quarter valued at approximately $380,369,000. BNP Paribas Financial Markets increased its stake in shares of Vulcan Materials by 239.8% in the 4th quarter. BNP Paribas Financial Markets now owns 739,003 shares of the construction company's stock valued at $190,094,000 after acquiring an additional 521,508 shares in the last quarter. Alkeon Capital Management LLC lifted its position in shares of Vulcan Materials by 54.1% during the 4th quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company's stock valued at $329,769,000 after acquiring an additional 450,000 shares during the period. Principal Financial Group Inc. boosted its stake in 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 worth $1,518,291,000 after acquiring an additional 445,691 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its holdings in 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 purchasing an additional 408,803 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Stock Performance

VMC traded down $2.13 during trading on Friday, hitting $268.60. 1,101,620 shares of the company traded hands, compared to its average volume of 984,555. Vulcan Materials Company has a one year low of $215.08 and a one year high of $298.31. The stock's fifty day moving average is $265.70 and its 200 day moving average is $256.43. The company has a quick ratio of 1.51, a current ratio of 2.42 and a debt-to-equity ratio of 0.60. The firm has a market cap of $35.48 billion, a P/E ratio of 38.10, a price-to-earnings-growth ratio of 2.41 and a beta of 0.82.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its earnings results on Wednesday, April 30th. The construction company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.20. Vulcan Materials had a net margin of 12.50% and a return on equity of 12.91%. The firm had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.64 billion. During the same period in the previous year, the company earned $0.80 earnings per share. The company's quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts predict that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 0.73%. Vulcan Materials's dividend payout ratio is currently 27.80%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Loop Capital cut their price objective on shares of Vulcan Materials from $325.00 to $320.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Seaport Res Ptn upgraded Vulcan Materials to a "strong-buy" rating in a report on Friday, March 21st. 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 report on Tuesday, April 29th. Wolfe Research raised shares of Vulcan Materials from a "peer perform" rating to an "outperform" rating in a research report on Thursday, April 10th. Finally, UBS Group upgraded shares of Vulcan Materials from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $280.00 to $318.00 in a report on Friday, May 16th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Vulcan Materials currently has a consensus rating of "Moderate Buy" and a consensus price target of $302.91.

Insider Activity

In other news, SVP David P. Clement sold 1,500 shares of the 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 approximately $764,640. This represents a 34.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is currently owned by insiders.

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.