Nordea Investment Management AB Sells 2,303 Shares of Vulcan Materials Company $VMC

Key Points

• Nordea Investment Management AB has reduced its stake in Vulcan Materials Company by 0.4%, selling 2,303 shares, bringing its total ownership to approximately 601,680 shares valued at $157.64 million.
• Analysts have given a mixed outlook for Vulcan Materials, with Barclays raising its price target from $285 to $305 and Citigroup increasing its target to $321, while Morgan Stanley lowered its target to $285.
• The company plans to pay a quarterly dividend of $0.49 on November 25, which translates to a 0.7% yield based on its current share price, bringing its annualized dividend to $1.96.

Nordea Investment Management AB lowered its position in Vulcan Materials Company (NYSE:VMC - Free Report) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 601,680 shares of the construction company's stock after selling 2,303 shares during the period. Nordea Investment Management AB owned approximately 0.46% of Vulcan Materials worth $157,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in VMC. Unified Investment Management increased its position in shares of Vulcan Materials by 1.7% during the second quarter. Unified Investment Management now owns 2,259 shares of the construction company's stock worth $589,000 after acquiring an additional 38 shares during the period. Rosenberg Matthew Hamilton increased its position in shares of Vulcan Materials by 6.2% during the second quarter. Rosenberg Matthew Hamilton now owns 648 shares of the construction company's stock worth $169,000 after acquiring an additional 38 shares during the period. Manchester Capital Management LLC increased its position in shares of Vulcan Materials by 26.9% during the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock worth $43,000 after acquiring an additional 39 shares during the period. Chemistry Wealth Management LLC increased its position in shares of Vulcan Materials by 3.0% during the second quarter. Chemistry Wealth Management LLC now owns 1,343 shares of the construction company's stock worth $350,000 after acquiring an additional 39 shares during the period. Finally, ORG Partners LLC increased its position in shares of Vulcan Materials by 86.3% during the second quarter. ORG Partners LLC now owns 95 shares of the construction company's stock worth $25,000 after acquiring an additional 44 shares during the period. Institutional investors own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

VMC has been the topic of a number of research reports. Barclays raised their target price on shares of Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Citigroup reaffirmed a "buy" rating and set a $321.00 target price (up from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. Morgan Stanley reduced their target price on shares of 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. Wells Fargo & Company raised shares of Vulcan Materials to a "hold" rating in a report on Wednesday, October 8th. Finally, 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 on the stock in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Vulcan Materials has an average rating of "Moderate Buy" and an average price target of $308.58.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $298.56, for a total value of $208,394.88. Following the completion of the sale, the senior vice president directly owned 2,832 shares in the company, valued at $845,521.92. This trade represents a 19.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is currently owned by company insiders.

Vulcan Materials Stock Performance

Shares of VMC stock opened at $295.37 on Friday. The firm has a market cap of $39.02 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.42 and a beta of 0.92. The company's 50 day moving average is $296.12 and its 200 day moving average is $273.13. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $311.74.

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 the consensus estimate of $2.65 by ($0.20). The business 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 business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.35 earnings per share. On average, sell-side analysts anticipate that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Monday, November 10th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, November 10th. Vulcan Materials's dividend payout ratio (DPR) is 27.37%.

Vulcan Materials Company 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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