Vulcan Materials Company $VMC Stock Sold by Fenimore Asset Management Inc

Key Points

• Fenimore Asset Management reduced its Vulcan Materials stake by 0.8%, selling 5,154 shares and retaining 655,412 shares valued at approximately $160.3 million. Institutional investors collectively own 90.39% of the company.
• Analysts maintain a mixed outlook, with eight Buy, eight Hold and one Sell rating; the consensus rating is Hold with a target price of $316.57.
• Vulcan Materials recently reported quarterly revenue of $2.16 billion and EPS of $2.59, exceeding estimates, and declared a $0.52 quarterly dividend. Shares traded near $245.98, close to the 52-week low of $237.03.

Fenimore Asset Management Inc lessened its stake in Vulcan Materials Company (NYSE:VMC - Free Report) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 655,412 shares of the construction company's stock after selling 5,154 shares during the quarter. Vulcan Materials makes up about 3.5% of Fenimore Asset Management Inc's holdings, making the stock its 8th largest position. Fenimore Asset Management Inc owned approximately 0.51% of Vulcan Materials worth $160,333,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Vulcan Materials during the 2nd quarter worth approximately $2,868,444,000. SCS Capital Management LLC purchased a new stake in shares of Vulcan Materials during the second quarter valued at approximately $19,628,000. Silvant Capital Management LLC purchased a new stake in shares of Vulcan Materials during the second quarter valued at approximately $35,140,000. Veritas Asset Management LLP bought a new stake in Vulcan Materials during the second quarter worth $306,641,000. Finally, Family Legacy Inc. bought a new stake in Vulcan Materials during the second quarter worth $6,403,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VMC. Truist Financial reduced their price objective on Vulcan Materials from $360.00 to $320.00 and set a "buy" rating for the company in a research note on Monday. Raymond James Financial reiterated an "outperform" rating on shares of Vulcan Materials in a research note on Wednesday, July 15th. UBS Group reduced their price target on shares of Vulcan Materials from $349.00 to $326.00 and set a "buy" rating for the company in a research report on Thursday. DA Davidson restated a "buy" rating and set a $330.00 price objective on shares of Vulcan Materials in a report on Monday, September 21st. Finally, Royal Bank Of Canada lifted their price objective on shares of Vulcan Materials from $293.00 to $300.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $316.57.

Insiders Place Their Bets

In related news, SVP David Clement sold 2,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $285.10, for a total transaction of $570,200.00. Following the sale, the senior vice president owned 6,716 shares of the company's stock, valued at approximately $1,914,731.60. This represents a 22.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J. Hill sold 14,000 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $276.17, for a total value of $3,866,380.00. Following the completion of the transaction, the director owned 58,209 shares of the company's stock, valued at approximately $16,075,579.53. This represents a 19.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.65% of the company's stock.

Vulcan Materials Stock Performance

NYSE:VMC traded up $1.85 on Thursday, reaching $245.98. 1,434,240 shares of the company's stock were exchanged, compared to its average volume of 1,166,198. The firm has a market cap of $31.87 billion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 2.51 and a beta of 1.05. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20. The stock has a fifty day simple moving average of $262.56 and a 200-day simple moving average of $277.30. Vulcan Materials Company has a 52 week low of $237.03 and a 52 week high of $331.09.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.13. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the firm posted $2.42 earnings per share. The company's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts predict that Vulcan Materials Company will post 9.1 earnings per share for the current year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th were given a $0.52 dividend. The ex-dividend date was Thursday, August 13th. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. Vulcan Materials's payout ratio is 24.56%.

About Vulcan Materials

Vulcan Materials Company NYSE: VMC is a major producer and supplier of construction materials in the United States. The company primarily produces and distributes construction aggregates, including crushed stone, sand and gravel, which are used in infrastructure, commercial, residential and industrial projects.

In addition to aggregates, Vulcan produces asphalt mix and ready-mixed concrete and provides related construction-material services. Its products support highways, bridges, airports, buildings and other essential infrastructure.

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