Vulcan Materials Company (NYSE:VMC) Shares Sold by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management Co. LP decreased its holdings in Vulcan Materials by 9.1%, owning 254,781 shares valued at $59.44 million by the end of the recent quarter.
• Vulcan Materials missed earnings estimates for the latest quarter with an EPS of $2.45, lower than the expected $2.65, and reported revenue of $2.10 billion against a forecast of $2.23 billion.
• The company recently declared a quarterly dividend of $0.49 per share, which results in an annualized dividend payout of $1.96 and a yield of 0.7%.

Westfield Capital Management Co. LP lessened its holdings in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 9.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 254,781 shares of the construction company's stock after selling 25,419 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.19% of Vulcan Materials worth $59,440,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in VMC. Opal Wealth Advisors LLC acquired a new stake in shares of Vulcan Materials during the 1st quarter worth $27,000. Kapitalo Investimentos Ltda purchased a new stake in Vulcan Materials during the 4th quarter worth $35,000. Fourth Dimension Wealth LLC purchased a new stake in Vulcan Materials during the 4th quarter worth $46,000. Manchester Capital Management LLC lifted its holdings in Vulcan Materials by 26.9% in the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock worth $43,000 after buying an additional 39 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in Vulcan Materials in the 1st quarter worth $45,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on VMC shares. Citigroup reiterated a "buy" rating and issued a $321.00 price objective (up previously from $305.00) on shares of Vulcan Materials in a report on Monday. Royal Bank Of Canada dropped their target price on shares of Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a research report on Friday, August 1st. Barclays boosted their target price on shares of Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Argus raised shares of Vulcan Materials to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, Wolfe Research raised shares of Vulcan Materials from a "peer perform" rating to an "outperform" rating in a research report on Thursday, April 10th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $304.27.

Vulcan Materials Stock Performance

Shares of NYSE VMC traded up $4.68 during midday trading on Friday, hitting $286.78. The company's stock had a trading volume of 277,401 shares, compared to its average volume of 1,062,029. Vulcan Materials Company has a 1-year low of $215.08 and a 1-year high of $298.31. The firm's fifty day moving average price is $266.62 and its 200-day moving average price is $257.98. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67. The firm has a market cap of $37.89 billion, a P/E ratio of 40.05, a P/E/G ratio of 2.30 and a beta of 0.83.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.45 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.20). Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period last year, the firm posted $2.35 earnings per share. The company's quarterly revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts forecast that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th will be given a $0.49 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.96 annualized dividend and a yield of 0.7%. Vulcan Materials's dividend payout ratio (DPR) is currently 27.37%.

Insiders Place Their Bets

In related news, SVP David P. Clement sold 1,500 shares of Vulcan Materials stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $270.00, for a total value of $405,000.00. Following the sale, the senior vice president directly owned 2,832 shares in the company, valued at $764,640. This trade represents a 34.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.62% of the stock is currently owned by corporate 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.