Massachusetts Financial Services Co. MA Lowers Position in Vulcan Materials Company (NYSE:VMC)

Massachusetts Financial Services Co. MA reduced its holdings in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 10.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,532,622 shares of the construction company's stock after selling 416,153 shares during the period. Massachusetts Financial Services Co. MA owned approximately 2.67% of Vulcan Materials worth $824,161,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Opal Wealth Advisors LLC purchased a new position in shares of Vulcan Materials during the first quarter worth about $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in Vulcan Materials during the 4th quarter worth approximately $30,000. Generali Asset Management SPA SGR purchased a new position in shares of Vulcan Materials in the 4th quarter valued at approximately $32,000. Kapitalo Investimentos Ltda acquired a new position in shares of Vulcan Materials in the fourth quarter valued at approximately $35,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Vulcan Materials in the first quarter valued at approximately $45,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP David P. Clement sold 1,500 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $270.00, for a total transaction of $405,000.00. Following the sale, the senior vice president owned 2,832 shares in the company, valued at $764,640. This trade represents a 34.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on VMC shares. Stifel Nicolaus lifted their price objective on shares of Vulcan Materials from $287.00 to $309.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Loop Capital lowered their target price on shares of Vulcan Materials from $325.00 to $320.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Argus upgraded shares of Vulcan Materials to a "strong-buy" rating in a research note on Thursday, April 24th. Seaport Res Ptn upgraded shares of Vulcan Materials to a "strong-buy" rating in a research report on Friday, March 21st. Finally, Citigroup reiterated a "buy" rating on shares of Vulcan Materials in a research report on Monday, March 24th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Vulcan Materials has a consensus rating of "Moderate Buy" and an average price target of $302.91.

Vulcan Materials Price Performance

Shares of NYSE:VMC traded up $0.76 on Monday, hitting $269.76. The company had a trading volume of 768,637 shares, compared to its average volume of 1,066,427. The company has a current ratio of 2.42, a quick ratio of 1.51 and a debt-to-equity ratio of 0.60. The company has a market cap of $35.64 billion, a PE ratio of 38.26, a PEG ratio of 2.40 and a beta of 0.82. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $298.31. The business has a 50 day moving average of $265.70 and a 200 day moving average of $256.32.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The construction company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.20. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. Vulcan Materials had a net margin of 12.50% and a return on equity of 12.91%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 EPS. As a group, equities analysts anticipate that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders 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 yield of 0.73%. Vulcan Materials's payout ratio is currently 27.80%.

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.