Vulcan Materials Company $VMC Stake Lessened by Allspring Global Investments Holdings LLC

Key Points

• Allspring reduced its Vulcan Materials stake by 5.3% in the third quarter, selling 71,003 shares; it retained 1,277,688 shares, worth about $311.7 million. Institutional investors collectively own 90.39% of the company.
• Analysts’ consensus rating is Moderate Buy, with a $310.72 average price target. Vulcan reported quarterly EPS of $2.83, slightly above estimates, while revenue of $2.18 billion missed expectations and fell 4.7% year over year.
• Vulcan declared a quarterly dividend of $0.52 per share, equivalent to a 0.7% annualized yield. Director J. Hill also sold 28,000 shares for approximately $8 million.

Allspring Global Investments Holdings LLC lessened its holdings in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,277,688 shares of the construction company's stock after selling 71,003 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.00% of Vulcan Materials worth $311,730,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Putney Financial Group LLC boosted its position in shares of Vulcan Materials by 3.6% during the third quarter. Putney Financial Group LLC now owns 1,031 shares of the construction company's stock worth $252,000 after acquiring an additional 36 shares during the last quarter. North Dakota State Investment Board increased its holdings in Vulcan Materials by 1.0% in the 3rd quarter. North Dakota State Investment Board now owns 3,970 shares of the construction company's stock valued at $971,000 after acquiring an additional 39 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in Vulcan Materials by 71.7% in the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company's stock valued at $28,000 after acquiring an additional 43 shares during the last quarter. Wedmont Private Capital lifted its stake in Vulcan Materials by 2.6% in the 2nd quarter. Wedmont Private Capital now owns 1,877 shares of the construction company's stock worth $554,000 after purchasing an additional 47 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co lifted its stake in Vulcan Materials by 1.0% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 4,889 shares of the construction company's stock worth $1,442,000 after purchasing an additional 50 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on VMC. Morgan Stanley dropped their price objective on shares of Vulcan Materials from $321.00 to $311.00 and set an "equal weight" rating for the company in a report on Wednesday, November 4th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Vulcan Materials in a report on Monday, September 21st. Stephens boosted their target price on Vulcan Materials from $285.00 to $315.00 and gave the stock an "overweight" rating in a research report on Monday, November 2nd. UBS Group decreased their target price on Vulcan Materials from $349.00 to $326.00 and set a "buy" rating on the stock in a research report on Thursday, October 8th. Finally, Wells Fargo & Company increased their price target on Vulcan Materials from $249.00 to $253.00 and gave the company an "underweight" rating in a research note on Friday, October 30th. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Vulcan Materials has a consensus rating of "Moderate Buy" and a consensus price target of $310.72.

Vulcan Materials Price Performance

Vulcan Materials stock opened at $283.23 on Monday. Vulcan Materials Company has a 52-week low of $237.03 and a 52-week high of $331.09. The company has a quick ratio of 0.96, a current ratio of 1.43 and a debt-to-equity ratio of 0.47. The firm's fifty day moving average is $257.12 and its 200 day moving average is $280.04. The company has a market cap of $36.35 billion, a price-to-earnings ratio of 33.52, a PEG ratio of 2.92 and a beta of 0.99.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The construction company reported $2.83 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.02. The business had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.24 billion. Vulcan Materials had a net margin of 13.77% and a return on equity of 13.03%. The business's revenue was down 4.7% on a year-over-year basis. During the same period last year, the company posted $2.84 EPS. Sell-side analysts forecast that Vulcan Materials Company will post 8.89 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, November 9th will be given a $0.52 dividend. The ex-dividend date is Monday, November 9th. This represents a $2.08 annualized dividend and a yield of 0.7%. Vulcan Materials's dividend payout ratio (DPR) is currently 24.62%.

Insiders Place Their Bets

In other Vulcan Materials news, Director J. Hill sold 28,000 shares of the business's stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $285.40, for a total transaction of $7,991,200.00. Following the sale, the director directly owned 30,209 shares of the company's stock, valued at $8,621,648.60. The trade was a 48.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.65% of the stock is owned by insiders.

Vulcan Materials Profile

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