Sumitomo Mitsui Trust Holdings Inc. Lowers Stake in Vulcan Materials (NYSE:VMC)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of Vulcan Materials (NYSE:VMC - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 315,195 shares of the construction company's stock after selling 4,327 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.24% of Vulcan Materials worth $71,552,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in VMC. JPMorgan Chase & Co. grew its position in Vulcan Materials by 47.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,484 shares of the construction company's stock worth $909,794,000 after purchasing an additional 1,447,700 shares in the last quarter. Norges Bank bought a new stake in Vulcan Materials in the 4th quarter worth about $217,300,000. Wellington Management Group LLP grew its position in Vulcan Materials by 30,160.4% in the 3rd quarter. Wellington Management Group LLP now owns 541,359 shares of the construction company's stock worth $109,365,000 after purchasing an additional 539,570 shares in the last quarter. Palestra Capital Management LLC grew its position in Vulcan Materials by 68.9% in the 3rd quarter. Palestra Capital Management LLC now owns 560,315 shares of the construction company's stock worth $113,195,000 after purchasing an additional 228,510 shares in the last quarter. Finally, Barclays PLC grew its position in Vulcan Materials by 98.7% in the 2nd quarter. Barclays PLC now owns 427,683 shares of the construction company's stock worth $96,416,000 after purchasing an additional 212,432 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $270.00 price objective (up from $245.00) on shares of Vulcan Materials in a research report on Friday, March 22nd. Jefferies Financial Group upped their price objective on shares of Vulcan Materials from $298.00 to $319.00 and gave the stock a "buy" rating in a research report on Thursday. Truist Financial boosted their target price on shares of Vulcan Materials from $300.00 to $320.00 and gave the company a "buy" rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group boosted their target price on shares of Vulcan Materials from $264.00 to $292.00 and gave the company a "buy" rating in a research note on Tuesday, February 20th. Finally, Morgan Stanley initiated coverage on shares of Vulcan Materials in a research note on Monday, January 8th. They issued an "equal weight" rating and a $208.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $273.00.

Insiders Place Their Bets

In other Vulcan Materials news, SVP Denson N. Franklin III sold 3,200 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total value of $862,336.00. Following the sale, the senior vice president now directly owns 5,395 shares in the company, valued at approximately $1,453,844.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vulcan Materials news, insider Stanley G. Bass sold 8,310 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $251.68, for a total value of $2,091,460.80. Following the sale, the insider now directly owns 29,311 shares in the company, valued at approximately $7,376,992.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Denson N. Franklin III sold 3,200 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $269.48, for a total transaction of $862,336.00. Following the completion of the transaction, the senior vice president now directly owns 5,395 shares in the company, valued at approximately $1,453,844.60. The disclosure for this sale can be found here. Insiders have sold 13,017 shares of company stock worth $3,344,741 in the last three months. 0.62% of the stock is currently owned by corporate insiders.

Vulcan Materials Stock Performance

Shares of VMC stock traded down $3.19 during trading on Thursday, reaching $255.07. 537,984 shares of the company's stock traded hands, compared to its average volume of 791,350. The company has a market capitalization of $33.74 billion, a P/E ratio of 36.54, a PEG ratio of 1.88 and a beta of 0.83. The company has a current ratio of 3.17, a quick ratio of 2.39 and a debt-to-equity ratio of 0.52. The firm's 50-day moving average is $263.13 and its 200 day moving average is $232.60. Vulcan Materials has a 1 year low of $166.43 and a 1 year high of $276.58.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings results on Friday, February 16th. The construction company reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $0.06. The company had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $1.84 billion. Vulcan Materials had a net margin of 11.99% and a return on equity of 12.80%. Vulcan Materials's revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.08 EPS. Equities research analysts expect that Vulcan Materials will post 8.43 EPS for the current year.

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were paid a $0.46 dividend. The ex-dividend date of this dividend was Friday, March 1st. This is a boost from Vulcan Materials's previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 0.72%. Vulcan Materials's dividend payout ratio is currently 26.36%.

Vulcan Materials Company Profile

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.