Vulcan Materials Company $VMC Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Key Points

• Meiji Yasuda Asset Management Co Ltd. reduced its holdings in Vulcan Materials Company by 4.0%, selling 871 shares, bringing its total ownership to 20,892 shares valued at approximately $4.87 million.
• Vulcan Materials reported earnings per share of $2.45 for the recent quarter, which fell short of analysts' expectations of $2.65, while revenue was reported at $2.1 billion, also below the consensus estimate.
• The company announced a quarterly dividend of $0.49 per share, with an annualized payout of $1.96, translating to a dividend yield of 0.7%.

Meiji Yasuda Asset Management Co Ltd. lessened its holdings in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 4.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,892 shares of the construction company's stock after selling 871 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Vulcan Materials were worth $4,874,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in VMC. Vanguard Group Inc. raised its stake in shares of Vulcan Materials by 2.1% during the first quarter. Vanguard Group Inc. now owns 16,699,662 shares of the construction company's stock valued at $3,896,031,000 after purchasing an additional 347,155 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Vulcan Materials by 5.6% in the 1st quarter. JPMorgan Chase & Co. now owns 6,967,777 shares of the construction company's stock valued at $1,625,583,000 after buying an additional 370,434 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Vulcan Materials by 7.4% in the 1st quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company's stock valued at $1,518,291,000 after buying an additional 445,691 shares in the last quarter. Stockbridge Partners LLC grew its stake in shares of Vulcan Materials by 11.3% in the 4th quarter. Stockbridge Partners LLC now owns 1,746,482 shares of the construction company's stock valued at $449,248,000 after buying an additional 177,918 shares in the last quarter. Finally, Alkeon Capital Management LLC boosted its position in Vulcan Materials by 4.4% during the first quarter. Alkeon Capital Management LLC now owns 1,338,346 shares of the construction company's stock worth $312,236,000 after purchasing an additional 56,345 shares during the period. Institutional investors and hedge funds own 90.39% of the company's stock.

Vulcan Materials Price Performance

NYSE:VMC traded up $7.35 during trading hours on Thursday, hitting $301.78. 808,082 shares of the company's stock traded hands, compared to its average volume of 716,890. The firm has a market cap of $39.87 billion, a P/E ratio of 42.15, a P/E/G ratio of 2.41 and a beta of 0.86. Vulcan Materials Company has a 52 week low of $215.08 and a 52 week high of $302.22. The business's fifty day simple moving average is $281.42 and its two-hundred day simple moving average is $261.72. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52.

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

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders 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 dividend yield of 0.6%. Vulcan Materials's dividend payout ratio (DPR) is 27.37%.

Analyst Ratings Changes

A number of research analysts recently commented on VMC shares. UBS Group upgraded Vulcan Materials from a "neutral" rating to a "buy" rating and upped their target price for the company from $280.00 to $318.00 in a research note on Friday, May 16th. Royal Bank Of Canada decreased their price target on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. Citigroup reissued a "buy" rating and issued a $321.00 target price (up previously from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Barclays lifted their target price on Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Morgan Stanley reduced their target price on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating for the company in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Vulcan Materials presently has an average rating of "Buy" and an average target price of $308.36.

Vulcan Materials 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.