MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 37,986 Shares of Vulcan Materials Company $VMC

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has reduced its stake in Vulcan Materials Company by 4.1%, selling 37,986 shares and now holding approximately 890,483 shares valued at approximately $207.7 million.
• Vulcan Materials reported a quarterly EPS of $2.45, missing analysts' expectations of $2.65, with a revenue of $2.10 billion compared to a forecast of $2.23 billion.
• The company recently declared a quarterly dividend of $0.49 per share, with a dividend yield of 0.7%, reflecting a payout ratio of 27.37%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its holdings in Vulcan Materials Company (NYSE:VMC - Free Report) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 890,483 shares of the construction company's stock after selling 37,986 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.67% of Vulcan Materials worth $207,749,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of VMC. Brighton Jones LLC bought a new stake in shares of Vulcan Materials in the fourth quarter valued at about $497,000. AXA S.A. lifted its position in Vulcan Materials by 248.1% during the fourth quarter. AXA S.A. now owns 7,881 shares of the construction company's stock worth $2,027,000 after purchasing an additional 5,617 shares during the period. Ameriprise Financial Inc. lifted its position in Vulcan Materials by 4.5% during the fourth quarter. Ameriprise Financial Inc. now owns 489,990 shares of the construction company's stock worth $126,041,000 after purchasing an additional 21,202 shares during the period. Algert Global LLC lifted its position in Vulcan Materials by 22.4% during the fourth quarter. Algert Global LLC now owns 2,265 shares of the construction company's stock worth $583,000 after purchasing an additional 415 shares during the period. Finally, Baird Financial Group Inc. lifted its position in Vulcan Materials by 8.7% during the fourth quarter. Baird Financial Group Inc. now owns 11,442 shares of the construction company's stock worth $2,943,000 after purchasing an additional 914 shares during the period. Institutional investors own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VMC. Royal Bank Of Canada cut their price objective on shares of Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a research report on Friday, August 1st. Citigroup reaffirmed a "buy" rating and set a $321.00 price objective (up previously from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. JPMorgan Chase & Co. boosted their target price on Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Barclays boosted their target price on Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Morgan Stanley lowered 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 equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $308.36.

Vulcan Materials Price Performance

NYSE VMC traded up $4.21 during trading on Monday, hitting $299.02. 776,220 shares of the company's stock were exchanged, compared to its average volume of 777,369. 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 $39.51 billion, a PE ratio of 41.76, a P/E/G ratio of 2.41 and a beta of 0.86. Vulcan Materials Company has a fifty-two week low of $215.08 and a fifty-two week high of $299.29. The stock's 50 day moving average price is $279.57 and its two-hundred day moving average price is $260.92.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued 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 business had revenue of $2.10 billion during the quarter, compared to the consensus estimate 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 last year, the business earned $2.35 EPS. Research analysts expect that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, August 14th. Vulcan Materials's dividend payout ratio (DPR) is 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.