M&T Bank Corp Lowers Holdings in Vulcan Materials Company (NYSE:VMC)

M&T Bank Corp trimmed its position in Vulcan Materials Company (NYSE:VMC - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

A number of other hedge funds have also recently made changes to their positions in VMC. Norges Bank bought a new stake in Vulcan Materials during the fourth quarter valued at $380,369,000. BNP Paribas Financial Markets boosted its position in shares of Vulcan Materials by 239.8% during the 4th quarter. BNP Paribas Financial Markets now owns 739,003 shares of the construction company's stock valued at $190,094,000 after acquiring an additional 521,508 shares during the last quarter. Alkeon Capital Management LLC grew its holdings in shares of Vulcan Materials by 54.1% during the fourth quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company's stock worth $329,769,000 after purchasing an additional 450,000 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Vulcan Materials by 7.4% during the first quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company's stock worth $1,518,291,000 after purchasing an additional 445,691 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of Vulcan Materials by 271.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 559,643 shares of the construction company's stock worth $143,957,000 after purchasing an additional 408,803 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VMC has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded shares of Vulcan Materials from a "neutral" rating to an "overweight" rating and dropped their target price for the company from $290.00 to $285.00 in a research report on Wednesday, March 19th. Seaport Res Ptn upgraded shares of Vulcan Materials to a "strong-buy" rating in a research report on Friday, March 21st. Argus raised shares of Vulcan Materials to a "strong-buy" rating in a report on Thursday, April 24th. Citigroup reissued a "buy" rating on shares of Vulcan Materials in a research note on Monday, March 24th. Finally, Wolfe Research upgraded Vulcan Materials from a "peer perform" rating to an "outperform" rating in a research report on Thursday, April 10th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $302.91.

Vulcan Materials Stock Up 0.1%

Vulcan Materials stock opened at $270.31 on Friday. Vulcan Materials Company has a 12 month low of $215.08 and a 12 month high of $298.31. The stock has a fifty day simple moving average of $265.68 and a two-hundred day simple moving average of $256.40. The company has a current ratio of 2.42, a quick ratio of 1.51 and a debt-to-equity ratio of 0.60. The firm has a market cap of $35.71 billion, a price-to-earnings ratio of 38.34, a PEG ratio of 2.41 and a beta of 0.82.

Vulcan Materials (NYSE:VMC - Get Free Report) last released 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. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. Vulcan Materials had a return on equity of 12.91% and a net margin of 12.50%. Vulcan Materials's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company earned $0.80 EPS. Equities analysts predict that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.96 dividend on an annualized basis and a yield of 0.73%. Vulcan Materials's dividend payout ratio (DPR) is 27.80%.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 1,500 shares of Vulcan Materials stock in a transaction that occurred 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 of the company's stock, valued at approximately $764,640. The trade was a 34.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.62% of the stock is currently owned by company insiders.

About Vulcan Materials

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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