Meiji Yasuda Life Insurance Co Sells 866 Shares of Vulcan Materials Company $VMC

Key Points

• Meiji Yasuda Life Insurance Co reduced its stake in Vulcan Materials Company by 10.9%, selling 866 shares and now holding 7,101 shares valued at approximately $1.66 million.
• Analyst recommendations for Vulcan Materials vary, with Citigroup issuing a "buy" rating and increasing the price target to $321, while Royal Bank of Canada lowered its price objective from $286 to $279.
• Vulcan Materials declared a quarterly dividend of $0.49, translating to an annualized dividend of $1.96, with a payout ratio of 27.37% as of the most recent earnings report.

Meiji Yasuda Life Insurance Co trimmed its stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 10.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,101 shares of the construction company's stock after selling 866 shares during the quarter. Meiji Yasuda Life Insurance Co's holdings in Vulcan Materials were worth $1,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in Vulcan Materials during the 1st quarter worth approximately $27,000. Fourth Dimension Wealth LLC bought a new stake in shares of Vulcan Materials in the 4th quarter worth approximately $46,000. Manchester Capital Management LLC grew its position in shares of Vulcan Materials by 26.9% in the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock worth $43,000 after buying an additional 39 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Vulcan Materials in the 1st quarter worth approximately $45,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Vulcan Materials in the 1st quarter worth approximately $54,000. 90.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Vulcan Materials Stock Up 0.8%

Shares of NYSE:VMC opened at $294.64 on Monday. The stock has a fifty day simple moving average of $278.81 and a two-hundred day simple moving average of $260.60. The stock has a market capitalization of $38.93 billion, a price-to-earnings ratio of 41.15, a PEG ratio of 2.41 and a beta of 0.86. Vulcan Materials Company has a 12-month low of $215.08 and a 12-month high of $298.31. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). The company had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.23 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.35 EPS. 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th were paid a $0.49 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. Vulcan Materials's payout ratio is currently 27.37%.

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.

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