MQS Management LLC Cuts Position in Vulcan Materials Company $VMC

Key Points

• MQS Management LLC sharply reduced its stake in Vulcan Materials, cutting holdings by 81.9% in the first quarter and selling 4,038 shares. After the sale, it owned 890 shares worth about $242,000.
• Vulcan Materials reported stronger-than-expected results for the latest quarter, posting EPS of $1.35 versus estimates of $1.10 and revenue of $1.76 billion versus expectations of $1.64 billion. Revenue rose 7.4% year over year.
• Analyst sentiment remains mixed on VMC, with a consensus rating of “Hold” and an average target price of $326.54. The stock also rose 2.9% on the day described, opening at $303.45.

MQS Management LLC decreased its holdings in Vulcan Materials Company (NYSE:VMC - Free Report) by 81.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 890 shares of the construction company's stock after selling 4,038 shares during the quarter. MQS Management LLC's holdings in Vulcan Materials were worth $242,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Inspire Investing LLC raised its stake in shares of Vulcan Materials by 7.9% during the 1st quarter. Inspire Investing LLC now owns 1,232 shares of the construction company's stock worth $335,000 after buying an additional 90 shares during the period. Princeton Global Asset Management LLC grew its stake in Vulcan Materials by 0.6% in the 1st quarter. Princeton Global Asset Management LLC now owns 15,207 shares of the construction company's stock valued at $4,141,000 after acquiring an additional 90 shares during the period. Pictet Asset Management Holding SA grew its stake in Vulcan Materials by 1.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 64,429 shares of the construction company's stock valued at $17,544,000 after acquiring an additional 1,220 shares during the period. Venturi Wealth Management LLC purchased a new stake in Vulcan Materials in the 1st quarter worth $748,000. Finally, Meyer Handelman Co. increased its holdings in Vulcan Materials by 22.6% in the 1st quarter. Meyer Handelman Co. now owns 2,121 shares of the construction company's stock worth $578,000 after acquiring an additional 391 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 2,212 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $292.29, for a total transaction of $646,545.48. Following the transaction, the senior vice president directly owned 8,716 shares in the company, valued at $2,547,599.64. The trade was a 20.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on VMC. Wells Fargo & Company increased their price objective on shares of Vulcan Materials from $305.00 to $310.00 and gave the company an "equal weight" rating in a report on Friday, May 1st. Citigroup cut their target price on shares of Vulcan Materials from $365.00 to $355.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Morgan Stanley reduced their price target on shares of Vulcan Materials from $322.00 to $321.00 and set an "equal weight" rating for the company in a research report on Monday, April 6th. Wall Street Zen raised shares of Vulcan Materials from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Royal Bank Of Canada lowered their price objective on Vulcan Materials from $298.00 to $293.00 and set a "sector perform" rating on the stock in a report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Vulcan Materials presently has a consensus rating of "Hold" and an average target price of $326.54.

Vulcan Materials Trading Up 2.9%

Shares of VMC opened at $303.45 on Friday. Vulcan Materials Company has a 52-week low of $252.35 and a 52-week high of $331.09. The stock has a market cap of $39.37 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. The firm's fifty day moving average is $286.22 and its two-hundred day moving average is $290.80. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.51.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its earnings results on Wednesday, April 29th. The construction company reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.25. The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.64 billion. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 earnings per share. Research analysts forecast that Vulcan Materials Company will post 9.28 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, May 22nd. Vulcan Materials's dividend payout ratio (DPR) is 24.73%.

About Vulcan Materials

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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