Price T Rowe Associates Inc. MD Sells 304,089 Shares of Vulcan Materials Company $VMC

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Vulcan Materials Company by 28.1%, owning 779,040 shares worth approximately $181.75 million as of the latest SEC filing.
• Vulcan Materials reported $2.10 billion in revenue for the last quarter, which was below analyst estimates, and its earnings per share were $2.45, missing the consensus expectation of $2.65.
• The company announced a quarterly dividend of $0.49, resulting in an annualized dividend yield of 0.7%, with a payout ratio of 27.37%.

Price T Rowe Associates Inc. MD decreased its holdings in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 28.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 779,040 shares of the construction company's stock after selling 304,089 shares during the period. Price T Rowe Associates Inc. MD owned 0.59% of Vulcan Materials worth $181,752,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. EntryPoint Capital LLC bought a new position in shares of Vulcan Materials during the first quarter valued at approximately $379,000. Credit Agricole S A increased its stake in shares of Vulcan Materials by 7.6% during the first quarter. Credit Agricole S A now owns 38,741 shares of the construction company's stock valued at $9,038,000 after purchasing an additional 2,724 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of Vulcan Materials by 34.4% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 39,585 shares of the construction company's stock valued at $9,252,000 after purchasing an additional 10,135 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Vulcan Materials during the first quarter valued at approximately $1,726,000. Finally, Qtron Investments LLC boosted its stake in Vulcan Materials by 76.7% in the 1st quarter. Qtron Investments LLC now owns 2,299 shares of the construction company's stock worth $536,000 after purchasing an additional 998 shares in the last quarter. Institutional investors own 90.39% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. UBS Group upgraded shares of Vulcan Materials from a "neutral" rating to a "buy" rating and upped their price target for the stock from $280.00 to $318.00 in a research note on Friday, May 16th. Citigroup reiterated a "buy" rating and issued a $321.00 price target (up previously from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. JPMorgan Chase & Co. upped their price target on shares of Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a research note on Tuesday. Stifel Nicolaus upped their price target on shares of Vulcan Materials from $287.00 to $309.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada lowered 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 research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $308.36.

Vulcan Materials Price Performance

VMC traded down $0.07 on Friday, hitting $291.09. 609,873 shares of the company's stock traded hands, compared to its average volume of 862,417. The company's 50 day simple moving average is $275.65 and its 200-day simple moving average is $259.85. The firm has a market cap of $38.46 billion, a price-to-earnings ratio of 40.66, a P/E/G ratio of 2.38 and a beta of 0.83. Vulcan Materials Company has a one year low of $215.08 and a one year high of $298.31. 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 (NYSE:VMC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.45 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.20). Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period last year, the company earned $2.35 EPS. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, research analysts anticipate that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 14th. Vulcan Materials's dividend payout ratio 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.