Public Employees Retirement System of Ohio Cuts Position in Vulcan Materials Company $VMC

Key Points

• Public Employees Retirement System of Ohio reduced its Vulcan Materials stake by 13.7% in the first quarter, selling 8,685 shares and retaining 54,860 shares valued at approximately $14.9 million.
• Vulcan Materials reported stronger-than-expected quarterly results, with EPS of $1.35 and revenue of $1.76 billion; revenue increased 7.4% year over year. The company also declared a quarterly dividend of $0.52 per share.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $327.79, although several firms recently lowered their targets. Institutional investors own 90.39% of the stock.

Public Employees Retirement System of Ohio cut its stake in Vulcan Materials Company (NYSE:VMC - Free Report) by 13.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,860 shares of the construction company's stock after selling 8,685 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Vulcan Materials were worth $14,938,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in Vulcan Materials during the fourth quarter valued at about $383,613,000. Egerton Capital UK LLP bought a new position in Vulcan Materials in the fourth quarter worth about $273,861,000. Arrowstreet Capital Limited Partnership raised its holdings in Vulcan Materials by 121.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 717,409 shares of the construction company's stock worth $204,619,000 after purchasing an additional 393,339 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Vulcan Materials during the third quarter valued at about $98,911,000. Finally, Schroder Investment Management Group lifted its position in shares of Vulcan Materials by 68.1% during the fourth quarter. Schroder Investment Management Group now owns 769,656 shares of the construction company's stock valued at $219,521,000 after buying an additional 311,723 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $280.20 on Monday. Vulcan Materials Company has a fifty-two week low of $252.35 and a fifty-two week high of $331.09. The company has a market cap of $36.36 billion, a PE ratio of 33.32, a P/E/G ratio of 2.01 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.59. The business has a 50-day simple moving average of $286.78 and a two-hundred day simple moving average of $290.55.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.25. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.64 billion. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 earnings per share. As a group, equities analysts expect that Vulcan Materials Company will post 9.3 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 13th. Vulcan Materials's payout ratio is currently 24.73%.

Analysts Set New Price Targets

VMC has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Vulcan Materials from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. Royal Bank Of Canada lowered their target price on shares of Vulcan Materials from $298.00 to $293.00 and set a "sector perform" rating for the company in a research note on Tuesday, June 30th. Wells Fargo & Company cut their price target on shares of Vulcan Materials from $310.00 to $305.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 8th. Zacks Research raised shares of Vulcan Materials from a "strong sell" rating to a "hold" rating in a report on Thursday, April 9th. Finally, Morgan Stanley reduced their price target on Vulcan Materials from $322.00 to $321.00 and set an "equal weight" rating on the stock in a research report on Monday, April 6th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $327.79.

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $292.29, for a total transaction of $646,545.48. Following the transaction, the senior vice president owned 8,716 shares in the company, valued at approximately $2,547,599.64. This represents a 20.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.65% of the company's stock.

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.

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