Cullinan Associates Inc. Has $409,000 Stake in Vulcan Materials (NYSE:VMC)

Cullinan Associates Inc. decreased its holdings in Vulcan Materials (NYSE:VMC) by 86.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,500 shares of the construction company’s stock after selling 9,600 shares during the period. Cullinan Associates Inc.’s holdings in Vulcan Materials were worth $409,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in VMC. Bank of Nova Scotia grew its stake in shares of Vulcan Materials by 14.8% in the 3rd quarter. Bank of Nova Scotia now owns 12,698 shares of the construction company’s stock valued at $2,565,000 after buying an additional 1,638 shares in the last quarter. Quadrature Capital Ltd grew its stake in shares of Vulcan Materials by 378.1% in the 3rd quarter. Quadrature Capital Ltd now owns 10,753 shares of the construction company’s stock valued at $2,172,000 after buying an additional 8,504 shares in the last quarter. Glenmede Trust Co. NA grew its stake in shares of Vulcan Materials by 1.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 7,026 shares of the construction company’s stock valued at $1,419,000 after buying an additional 73 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Vulcan Materials by 5.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 33,203 shares of the construction company’s stock valued at $6,708,000 after buying an additional 1,851 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in Vulcan Materials during the third quarter worth approximately $315,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

Vulcan Materials stock opened at $245.07 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.81. The stock has a fifty day moving average price of $256.61 and a two-hundred day moving average price of $250.14. Vulcan Materials has a 52-week low of $190.51 and a 52-week high of $276.58. The firm has a market capitalization of $32.41 billion, a P/E ratio of 35.78, a P/E/G ratio of 1.86 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.11). The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.50 billion. Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The business’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. As a group, analysts anticipate that Vulcan Materials will post 8.51 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, May 23rd. Vulcan Materials’s payout ratio is presently 26.86%.

Insider Transactions at Vulcan Materials

In other news, President Thompson S. Baker II sold 8,600 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $272.95, for a total transaction of $2,347,370.00. Following the sale, the president now owns 1,300 shares in the company, valued at $354,835. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Thompson S. Baker II sold 8,600 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $272.95, for a total value of $2,347,370.00. Following the transaction, the president now owns 1,300 shares in the company, valued at $354,835. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP David P. Clement sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $254.50, for a total value of $254,500.00. Following the completion of the transaction, the senior vice president now owns 2,660 shares in the company, valued at approximately $676,970. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,210 shares of company stock worth $4,653,520. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

VMC has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their target price on Vulcan Materials from $298.00 to $319.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Royal Bank of Canada upped their target price on Vulcan Materials from $269.00 to $272.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. Stephens increased their price objective on Vulcan Materials from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. reissued 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. Finally, Truist Financial increased their price objective on Vulcan Materials from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $277.08.

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.