Premier Fund Managers Ltd Sells 80,113 Shares of Vulcan Materials Company $VMC

Key Points

• Premier Fund Managers sold 80,113 shares of Vulcan Materials, cutting its stake by 49.2% to 82,880 shares (about 0.06% of the company) worth roughly $23.95 million.
• Vulcan Materials beat quarterly estimates with $1.35 EPS versus a $1.10 consensus and $1.76B in revenue, raised its quarterly dividend to $0.52, and carries a consensus "Moderate Buy" from analysts with an average target of $329.62.

Premier Fund Managers Ltd decreased its holdings in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 49.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 82,880 shares of the construction company's stock after selling 80,113 shares during the quarter. Premier Fund Managers Ltd owned 0.06% of Vulcan Materials worth $23,947,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Westside Investment Management Inc. grew its stake in shares of Vulcan Materials by 100.0% during the third quarter. Westside Investment Management Inc. now owns 84 shares of the construction company's stock valued at $25,000 after buying an additional 42 shares during the last quarter. NBT Bank N A NY bought a new position in shares of Vulcan Materials during the fourth quarter valued at approximately $26,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Vulcan Materials during the third quarter valued at approximately $29,000. Godsey & Gibb Inc. bought a new position in shares of Vulcan Materials during the fourth quarter valued at approximately $30,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Vulcan Materials during the third quarter valued at approximately $30,000. Institutional investors own 90.39% of the company's stock.

Vulcan Materials Stock Up 1.5%

Vulcan Materials stock opened at $295.77 on Thursday. The business has a fifty day moving average of $283.88 and a two-hundred day moving average of $292.74. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.51. The firm has a market cap of $38.38 billion, a P/E ratio of 35.17, a P/E/G ratio of 2.12 and a beta of 1.09. Vulcan Materials Company has a twelve month low of $252.35 and a twelve month high of $331.09.

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

Vulcan Materials Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 9th were issued a dividend of $0.52 per share. This is an increase from Vulcan Materials's previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, March 9th. Vulcan Materials's dividend payout ratio (DPR) is currently 24.73%.

Analysts Set New Price Targets

A number of research analysts have recently commented on VMC shares. Stifel Nicolaus set a $333.00 target price on Vulcan Materials in a research note on Thursday, April 30th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $320.00 price target (down from $335.00) on shares of Vulcan Materials in a report on Wednesday, March 4th. Stephens boosted their price target on Vulcan Materials from $330.00 to $340.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. B. Riley Financial assumed coverage on Vulcan Materials in a report on Thursday, January 15th. They issued a "buy" rating and a $345.00 price target for the company. Finally, Morgan Stanley lowered their price target on Vulcan Materials from $322.00 to $321.00 and set an "equal weight" rating for the company in a report on Monday, April 6th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $329.62.

Insiders Place Their Bets

In other Vulcan Materials news, Director Melissa H. Anderson sold 1,137 shares of the company's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $303.72, for a total transaction of $345,329.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.65% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.