Vulcan Materials Company $VMC Stock Position Lessened by Point72 Europe London LLP

Key Points

• Point72 Europe London LLP has significantly reduced its stake in Vulcan Materials Company by 73.8%, now owning 52,592 shares worth approximately $12.27 million.
• Analysts have mixed views on Vulcan Materials, with price targets ranging from $279 to $330, and a current consensus rating of "Buy."
• Vulcan Materials announced a quarterly dividend of $0.49 per share, with a yield of 0.7%, to be paid on September 3rd to shareholders of record as of August 14th.

Point72 Europe London LLP cut its stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 73.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 52,592 shares of the construction company's stock after selling 147,844 shares during the period. Point72 Europe London LLP's holdings in Vulcan Materials were worth $12,270,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in VMC. BNP Paribas Financial Markets raised its position in shares of Vulcan Materials by 239.8% in the 4th quarter. BNP Paribas Financial Markets now owns 739,003 shares of the construction company's stock valued at $190,094,000 after purchasing an additional 521,508 shares in the last quarter. Alkeon Capital Management LLC raised its position in shares of Vulcan Materials by 54.1% in the 4th quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company's stock valued at $329,769,000 after purchasing an additional 450,000 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Vulcan Materials by 7.4% in the 1st quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company's stock valued at $1,518,291,000 after purchasing an additional 445,691 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Vulcan Materials by 29,580.1% in the 1st quarter. GAMMA Investing LLC now owns 398,010 shares of the construction company's stock valued at $92,856,000 after purchasing an additional 396,669 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Vulcan Materials by 5.6% in the 1st quarter. JPMorgan Chase & Co. now owns 6,967,777 shares of the construction company's stock valued at $1,625,583,000 after purchasing an additional 370,434 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley dropped their price target on 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. JPMorgan Chase & Co. upped their price target on Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Citigroup reissued a "buy" rating and set a $321.00 price target (up from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. UBS Group raised Vulcan Materials from a "neutral" rating to a "buy" rating and upped their price target for the company from $280.00 to $318.00 in a research report on Friday, May 16th. Finally, Royal Bank Of Canada dropped their price target on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $308.36.

Vulcan Materials Stock Performance

VMC traded up $1.20 during trading on Tuesday, reaching $292.36. 1,143,651 shares of the company were exchanged, compared to its average volume of 753,226. The stock has a market cap of $38.63 billion, a P/E ratio of 40.83, a PEG ratio of 2.38 and a beta of 0.86. The firm has a 50 day moving average of $276.81 and a 200 day moving average of $260.12. The company has a current ratio of 1.67, a quick ratio of 1.13 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 $298.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.45 EPS for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.Vulcan Materials's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.35 earnings per share. On average, sell-side analysts forecast 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 paid a $0.49 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. Vulcan Materials's dividend payout ratio is presently 27.37%.

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.