Massachusetts Financial Services Co. MA Decreases Stake in Vulcan Materials Company $VMC

Key Points

• Massachusetts Financial Services Co. MA trimmed its stake in Vulcan Materials by 2.3%, selling 49,523 shares and leaving 2,102,151 shares (approximately 1.59% of the company) valued at about $599.6 million.
• Vulcan Materials missed quarterly estimates, reporting $1.70 EPS versus $2.11 expected and $1.91 billion in revenue versus $1.95 billion, while analysts maintain a consensus rating of "Moderate Buy" with an average target of $324.85.
• The company raised its quarterly dividend to $0.52 (annualized $2.08) for a yield of about 0.7%, and insiders currently own roughly 0.62% of the stock.

Massachusetts Financial Services Co. MA reduced its position in Vulcan Materials Company (NYSE:VMC - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,102,151 shares of the construction company's stock after selling 49,523 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.59% of Vulcan Materials worth $599,576,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VMC. Brighton Jones LLC purchased a new position in Vulcan Materials in the 4th quarter valued at about $497,000. NewEdge Advisors LLC boosted its position in Vulcan Materials by 3.9% in the 1st quarter. NewEdge Advisors LLC now owns 4,359 shares of the construction company's stock valued at $1,017,000 after buying an additional 163 shares during the last quarter. Empowered Funds LLC boosted its position in Vulcan Materials by 6.3% in the 1st quarter. Empowered Funds LLC now owns 3,195 shares of the construction company's stock valued at $745,000 after buying an additional 190 shares during the last quarter. Focus Partners Wealth boosted its position in Vulcan Materials by 28.5% in the 1st quarter. Focus Partners Wealth now owns 3,321 shares of the construction company's stock valued at $775,000 after buying an additional 736 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Vulcan Materials by 31.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 334 shares of the construction company's stock valued at $78,000 after buying an additional 80 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VMC. Wall Street Zen cut shares of Vulcan Materials from a "hold" rating to a "sell" rating in a research report on Saturday, February 21st. Truist Financial upped their target price on shares of Vulcan Materials from $320.00 to $360.00 and gave the company a "buy" rating in a research note on Thursday, February 19th. Weiss Ratings restated a "buy (b)" rating on shares of Vulcan Materials in a research note on Tuesday, January 27th. DA Davidson cut their target price on shares of Vulcan Materials from $330.00 to $320.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 18th. Finally, Wells Fargo & Company cut their target price on shares of Vulcan Materials from $317.00 to $315.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $324.85.

Insiders Place Their Bets

In related news, Director Melissa H. Anderson sold 1,137 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $303.72, for a total transaction of $345,329.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.62% of the stock is currently owned by company insiders.

Vulcan Materials Stock Performance

Shares of Vulcan Materials stock opened at $295.32 on Friday. The firm has a market cap of $38.53 billion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 2.07 and a beta of 1.10. The firm's 50-day simple moving average is $290.77 and its 200-day simple moving average is $293.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.97 and a current ratio of 2.69. Vulcan Materials Company has a 1 year low of $231.76 and a 1 year high of $331.09.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its earnings results on Tuesday, February 17th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.11 by ($0.41). The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.95 billion. Vulcan Materials had a net margin of 13.56% and a return on equity of 12.56%. The business's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.17 EPS. Equities analysts forecast that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Monday, March 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.7%. This is a positive change from Vulcan Materials's previous quarterly dividend of $0.49. The ex-dividend date was Monday, March 9th. Vulcan Materials's dividend payout ratio (DPR) is currently 25.62%.

Vulcan Materials Profile

Vulcan Materials Company NYSE: VMC is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company's primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.

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