Vident Advisory LLC Trims Position in Vulcan Materials Company $VMC

Key Points

• Vident Advisory LLC has decreased its shareholding in Vulcan Materials Company by 39%, selling 2,165 shares and now owning a total of 3,385 shares valued at $790,000.
• Analysts generally maintain a positive outlook on Vulcan Materials, with multiple price target increases, including Citigroup raising their target to $321.00 and JPMorgan Chase to $330.00.
• Vulcan Materials reported $2.45 earnings per share, missing expectations of $2.65, while achieving a revenue of $2.10 billion for the quarter.

Vident Advisory LLC cut its stake in Vulcan Materials Company (NYSE:VMC - Free Report) by 39.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,385 shares of the construction company's stock after selling 2,165 shares during the quarter. Vident Advisory LLC's holdings in Vulcan Materials were worth $790,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Opal Wealth Advisors LLC purchased a new stake in Vulcan Materials in the 1st quarter valued at $27,000. Fourth Dimension Wealth LLC bought a new position in shares of Vulcan Materials during the 4th quarter valued at approximately $46,000. Manchester Capital Management LLC raised its stake in shares of Vulcan Materials by 26.9% in the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock valued at $43,000 after buying an additional 39 shares during the period. Wayfinding Financial LLC purchased a new stake in Vulcan Materials during the first quarter valued at about $45,000. Finally, Rakuten Securities Inc. purchased a new position in Vulcan Materials in the 1st quarter valued at approximately $54,000. Institutional investors own 90.39% of the company's stock.

Wall Street Analysts Forecast Growth

VMC has been the subject of a number of recent analyst reports. Royal Bank Of Canada reduced their target price on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a report on Friday, August 1st. UBS Group upgraded shares of Vulcan Materials from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $280.00 to $318.00 in a research report on Friday, May 16th. Citigroup restated a "buy" rating and set a $321.00 price objective (up previously from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. Barclays raised their price target on Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $308.36.

Vulcan Materials Stock Performance

Shares of NYSE VMC traded up $4.21 during midday trading on Monday, hitting $299.02. 776,220 shares of the company's stock traded hands, compared to its average volume of 1,035,281. The firm has a fifty day moving average of $278.81 and a 200 day moving average of $260.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67. The stock has a market capitalization of $39.51 billion, a price-to-earnings ratio of 41.76, a price-to-earnings-growth ratio of 2.41 and a beta of 0.86. Vulcan Materials Company has a 1 year low of $215.08 and a 1 year high of $299.29.

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 analysts' consensus estimates of $2.65 by ($0.20). The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.23 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The company's revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.35 EPS. On average, analysts forecast that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th were issued a $0.49 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.96 annualized dividend and a yield of 0.7%. Vulcan Materials's dividend payout ratio is currently 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.