Vulcan Materials Company $VMC Shares Sold by Dai ichi Life Insurance Company Ltd

Key Points

• Dai ichi Life Insurance cut its Vulcan Materials stake by 77.2% in the first quarter, selling 22,476 shares and retaining 6,648 shares valued at approximately $1.81 million.
• Vulcan Materials reported stronger-than-expected quarterly results, with EPS of $1.35 versus the $1.10 consensus estimate and revenue of $1.76 billion, up 7.4% year over year.
• The company declared a quarterly dividend of $0.52, equivalent to $2.08 annually and a 0.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $327.79, despite some target-price reductions.

Dai ichi Life Insurance Company Ltd lowered its holdings in Vulcan Materials Company (NYSE:VMC - Free Report) by 77.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,648 shares of the construction company's stock after selling 22,476 shares during the period. Dai ichi Life Insurance Company Ltd's holdings in Vulcan Materials were worth $1,810,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VMC. Atria Investments Inc boosted its holdings in shares of Vulcan Materials by 54.1% during the fourth quarter. Atria Investments Inc now owns 12,334 shares of the construction company's stock valued at $3,518,000 after acquiring an additional 4,331 shares during the period. Y.D. More Investments Ltd acquired a new stake in shares of Vulcan Materials in the 4th quarter worth about $1,318,000. North Dakota State Investment Board bought a new stake in Vulcan Materials in the 4th quarter valued at about $1,293,000. Westfield Capital Management Co. LP lifted its position in Vulcan Materials by 7.4% in the 4th quarter. Westfield Capital Management Co. LP now owns 254,044 shares of the construction company's stock valued at $72,459,000 after purchasing an additional 17,488 shares during the last quarter. Finally, ABC Arbitrage SA bought a new stake in Vulcan Materials in the 4th quarter valued at about $5,821,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In related news, SVP David P. Clement sold 2,212 shares of the firm'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 $2,547,599.64. This trade represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is owned by company insiders.

Vulcan Materials Stock Performance

VMC stock opened at $280.20 on Monday. The company has a market capitalization of $36.36 billion, a P/E ratio of 33.32, a PEG ratio of 2.01 and a beta of 1.05. The company has a 50-day simple moving average of $286.78 and a 200 day simple moving average of $290.55. 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 quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.51.

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

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th will be issued a $0.52 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. Vulcan Materials's dividend payout ratio (DPR) is 24.73%.

Analysts Set New Price Targets

Several research firms have commented on VMC. Royal Bank Of Canada decreased 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 report on Tuesday, June 30th. Wall Street Zen cut Vulcan Materials from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. Citigroup reduced their price objective on Vulcan Materials from $365.00 to $355.00 and set a "buy" rating for the company in a research report on Friday, May 1st. UBS Group decreased their price objective on Vulcan Materials from $350.00 to $349.00 and set a "buy" rating for the company in a report on Wednesday, July 8th. Finally, Morgan Stanley decreased their price objective on Vulcan Materials from $322.00 to $321.00 and set an "equal weight" rating for the company in a report on Monday, April 6th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $327.79.

Vulcan Materials Profile

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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