Swiss National Bank Lowers Stock Position in Vulcan Materials (NYSE:VMC)

Swiss National Bank cut its holdings in shares of Vulcan Materials (NYSE:VMC) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 397,900 shares of the construction company’s stock after selling 17,600 shares during the period. Swiss National Bank’s holdings in Vulcan Materials were worth $108,595,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of VMC. Norges Bank purchased a new position in shares of Vulcan Materials during the fourth quarter worth approximately $282,528,000. Point72 Asset Management L.P. grew its position in shares of Vulcan Materials by 271.0% during the fourth quarter. Point72 Asset Management L.P. now owns 823,141 shares of the construction company’s stock worth $186,861,000 after acquiring an additional 601,268 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Vulcan Materials by 30,160.4% during the third quarter. Wellington Management Group LLP now owns 541,359 shares of the construction company’s stock worth $109,365,000 after acquiring an additional 539,570 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Vulcan Materials by 621.1% during the first quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock worth $64,581,000 after acquiring an additional 203,166 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Vulcan Materials by 190.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 270,069 shares of the construction company’s stock worth $61,308,000 after acquiring an additional 177,085 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP David P. Clement sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $254.50, for a total transaction of $254,500.00. Following the completion of the transaction, the senior vice president now owns 2,660 shares of the company’s stock, valued at approximately $676,970. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Vulcan Materials news, President Thompson S. Baker II sold 6,610 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $272.64, for a total value of $1,802,150.40. Following the completion of the sale, the president now owns 4,784 shares of the company’s stock, valued at $1,304,309.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David P. Clement sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $254.50, for a total transaction of $254,500.00. Following the completion of the sale, the senior vice president now directly owns 2,660 shares of the company’s stock, valued at approximately $676,970. The disclosure for this sale can be found here. Insiders sold a total of 17,210 shares of company stock valued at $4,653,520 in the last 90 days. 0.62% of the stock is currently owned by insiders.

Vulcan Materials Price Performance

Shares of NYSE VMC traded up $1.07 during trading on Monday, hitting $253.58. 40,992 shares of the company were exchanged, compared to its average volume of 763,797. The company has a market cap of $33.54 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 1.90 and a beta of 0.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.81. Vulcan Materials has a 1 year low of $190.51 and a 1 year high of $276.58. The firm’s fifty day moving average price is $254.06 and its 200 day moving average price is $251.53.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Thursday, May 2nd. The construction company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.11). Vulcan Materials had a net margin of 11.92% and a return on equity of 12.32%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the firm posted $0.95 EPS. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, sell-side analysts expect that Vulcan Materials will post 8.46 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.73%. Vulcan Materials’s dividend payout ratio is currently 26.86%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VMC. Truist Financial raised their target price on shares of Vulcan Materials from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Loop Capital lowered their price objective on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Jefferies Financial Group lifted their price objective on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Royal Bank of Canada lifted their price objective on shares of Vulcan Materials from $269.00 to $272.00 and gave the company a “sector perform” rating in a research report on Friday, May 3rd. Finally, Stephens lifted their price objective on shares of Vulcan Materials from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.