M&T Bank Corp reduced its position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,105 shares of the construction company's stock after selling 972 shares during the period. M&T Bank Corp's holdings in Vulcan Materials were worth $3,290,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of Vulcan Materials in the 1st quarter worth about $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Vulcan Materials during the fourth quarter worth about $30,000. SBI Securities Co. Ltd. purchased a new position in Vulcan Materials in the fourth quarter valued at approximately $31,000. Generali Asset Management SPA SGR purchased a new position in Vulcan Materials in the 4th quarter valued at $32,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Vulcan Materials during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 90.39% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on VMC. Stephens set a $315.00 target price on Vulcan Materials and gave the company an "overweight" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. upgraded Vulcan Materials from a "neutral" rating to an "overweight" rating and lowered their price target for the stock from $290.00 to $285.00 in a report on Wednesday, March 19th. Loop Capital lowered their price objective on Vulcan Materials from $325.00 to $320.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Morgan Stanley upped their price target on Vulcan Materials from $273.00 to $303.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Finally, Stifel Nicolaus increased their price objective on Vulcan Materials from $287.00 to $309.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Vulcan Materials presently has a consensus rating of "Moderate Buy" and an average target price of $302.91.
Read Our Latest Stock Analysis on Vulcan Materials
Insider Buying and Selling
In other Vulcan Materials news, SVP David P. Clement sold 1,500 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $270.00, for a total value of $405,000.00. Following the completion of the sale, the senior vice president owned 2,832 shares in the company, valued at $764,640. This trade represents a 34.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is currently owned by company insiders.
Vulcan Materials Stock Performance
Vulcan Materials stock traded up $0.76 during mid-day trading on Monday, reaching $269.76. 768,632 shares of the stock traded hands, compared to its average volume of 984,295. The stock has a market capitalization of $35.64 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 2.40 and a beta of 0.82. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.42 and a quick ratio of 1.51. The business's 50-day moving average is $265.70 and its 200-day moving average is $256.32. Vulcan Materials Company has a 12-month low of $215.08 and a 12-month high of $298.31.
Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.80 by $0.20. Vulcan Materials had a return on equity of 12.91% and a net margin of 12.50%. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the business earned $0.80 EPS. Vulcan Materials's quarterly revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts predict that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.
Vulcan Materials Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.73%. Vulcan Materials's dividend payout ratio is currently 27.80%.
About Vulcan Materials
(
Free Report)
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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