Maryland State Retirement & Pension System Sells 880 Shares of Vulcan Materials Company (NYSE:VMC)

Key Points

• The Maryland State Retirement & Pension System reduced its stake in Vulcan Materials Company by 12.5%, selling 880 shares and holding 6,186 shares worth $1,443,000 at the end of the latest reporting period.
• Vulcan Materials reported earnings of $2.45 per share for the last quarter, missing estimates by $0.20, with revenue of $2.10 billion compared to analysts' expectations of $2.23 billion.
• The company recently announced a quarterly dividend of $0.49 per share, which will be paid on September 3rd, with a dividend yield of 0.7% and a payout ratio of 27.37%.

Maryland State Retirement & Pension System trimmed its stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 12.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,186 shares of the construction company's stock after selling 880 shares during the quarter. Maryland State Retirement & Pension System's holdings in Vulcan Materials were worth $1,443,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its position in Vulcan Materials by 21.0% during the first quarter. Golden State Wealth Management LLC now owns 951 shares of the construction company's stock worth $222,000 after purchasing an additional 165 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of 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 buying an additional 4,678 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of 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 buying an additional 180 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Vulcan Materials by 27.2% during the first 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 lifted its holdings in shares of Vulcan Materials by 5.6% during the fourth 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 institutional investors.

Wall Street Analysts Forecast Growth

VMC has been the subject of a number of research reports. Citigroup reissued a "buy" rating and set a $321.00 target price (up previously from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Royal Bank Of Canada dropped their target price on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a report on Friday, August 1st. Stifel Nicolaus lifted their target price on Vulcan Materials from $287.00 to $309.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Argus raised Vulcan Materials to a "strong-buy" rating in a report on Thursday, April 24th. Finally, Raymond James Financial dropped their price target on Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. Three investment 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $304.27.

Vulcan Materials Price Performance

NYSE VMC traded up $6.96 during trading on Tuesday, hitting $292.20. 1,070,324 shares of the company's stock were exchanged, compared to its average volume of 1,047,517. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The company has a market cap of $38.61 billion, a PE ratio of 40.81, a P/E/G ratio of 2.33 and a beta of 0.83. Vulcan Materials Company has a fifty-two week low of $215.08 and a fifty-two week high of $298.31. The stock's 50 day moving average price is $268.04 and its two-hundred day moving average price is $258.11.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $2.45 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.20). The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%. The firm's revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.35 EPS. Research analysts expect that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Dividend Announcement

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

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 1,500 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $270.00, for a total transaction of $405,000.00. Following the sale, the senior vice president directly owned 2,832 shares in the company, valued at approximately $764,640. The trade was a 34.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.61% of the company's stock.

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.