Vulcan Materials Company (NYSE:VMC) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. cut its position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 7.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,202 shares of the construction company's stock after selling 2,040 shares during the period. Sumitomo Life Insurance Co.'s holdings in Vulcan Materials were worth $6,113,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Vulcan Materials during the first quarter valued at approximately $27,000. Murphy & Mullick Capital Management Corp bought a new position in Vulcan Materials during the fourth quarter valued at approximately $30,000. Generali Asset Management SPA SGR bought a new position in Vulcan Materials during the fourth quarter valued at approximately $32,000. Kapitalo Investimentos Ltda bought a new position in Vulcan Materials during the fourth quarter valued at approximately $35,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Vulcan Materials in the 4th quarter valued at approximately $46,000. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Stock Down 0.3%

Shares of VMC traded down $0.78 during midday trading on Wednesday, reaching $260.78. 1,188,381 shares of the stock were exchanged, compared to its average volume of 987,239. Vulcan Materials Company has a 52 week low of $215.08 and a 52 week high of $298.31. 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's 50 day moving average is $265.58 and its two-hundred day moving average is $256.40. The company has a market capitalization of $34.45 billion, a P/E ratio of 36.99, a PEG ratio of 2.41 and a beta of 0.82.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.20. The firm had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.64 billion. Vulcan Materials had a return on equity of 12.91% and a net margin of 12.50%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 EPS. On average, sell-side analysts anticipate that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Thursday, August 14th. Vulcan Materials's dividend payout ratio (DPR) is currently 27.80%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on VMC. JPMorgan Chase & Co. raised Vulcan Materials from a "neutral" rating to an "overweight" rating and lowered their price objective for the company from $290.00 to $285.00 in a research note on Wednesday, March 19th. Argus raised Vulcan Materials to a "strong-buy" rating in a research note on Thursday, April 24th. Morgan Stanley raised their price target on Vulcan Materials from $273.00 to $303.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Wolfe Research raised Vulcan Materials from a "peer perform" rating to an "outperform" rating in a research note on Thursday, April 10th. Finally, UBS Group raised Vulcan Materials from a "neutral" rating to a "buy" rating and raised their price target for the stock from $280.00 to $318.00 in a research note on Friday, May 16th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $302.91.

Insider Buying and Selling at Vulcan Materials

In related news, SVP David P. Clement sold 1,500 shares of the company'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 completion of the sale, the senior vice president directly owned 2,832 shares in the company, valued at $764,640. This represents a 34.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.61% of the stock is owned by company insiders.

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.