Pathstone Holdings LLC Sells 2,637 Shares of Vulcan Materials (NYSE:VMC)

Pathstone Holdings LLC lowered its position in Vulcan Materials (NYSE:VMC) by 18.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,437 shares of the construction company’s stock after selling 2,637 shares during the period. Pathstone Holdings LLC’s holdings in Vulcan Materials were worth $2,864,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in VMC. Principal Financial Group Inc. grew its stake in Vulcan Materials by 19.9% in the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock valued at $1,332,431,000 after acquiring an additional 884,580 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Vulcan Materials by 18.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock worth $533,551,000 after purchasing an additional 330,433 shares in the last quarter. Ceredex Value Advisors LLC raised its holdings in Vulcan Materials by 136.3% during the 3rd quarter. Ceredex Value Advisors LLC now owns 355,857 shares of the construction company’s stock worth $89,117,000 after buying an additional 205,260 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Vulcan Materials by 1,191.7% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 159,005 shares of the construction company’s stock valued at $39,541,000 after buying an additional 146,695 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Vulcan Materials by 136.1% in the second quarter. AQR Capital Management LLC now owns 184,471 shares of the construction company’s stock valued at $45,874,000 after buying an additional 106,324 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Shares of VMC opened at $290.34 on Tuesday. The company has a market cap of $38.34 billion, a price-to-earnings ratio of 45.79, a PEG ratio of 2.75 and a beta of 0.81. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. The company’s fifty day simple moving average is $262.20 and its 200 day simple moving average is $254.67. Vulcan Materials has a 1-year low of $209.60 and a 1-year high of $298.31.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.12). Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the firm earned $2.29 earnings per share. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, research analysts forecast that Vulcan Materials will post 7.16 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be given a $0.46 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.63%. Vulcan Materials’s payout ratio is 29.02%.

Analyst Upgrades and Downgrades

VMC has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Royal Bank of Canada dropped their price target on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Stephens dropped their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Vulcan Materials presently has an average rating of “Moderate Buy” and an average target price of $280.46.

Vulcan Materials 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.