Citigroup Inc. Sells 30,665 Shares of Vulcan Materials (NYSE:VMC)

Citigroup Inc. trimmed its holdings in Vulcan Materials (NYSE:VMC) by 22.1% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 108,283 shares of the construction company’s stock after selling 30,665 shares during the quarter. Citigroup Inc.’s holdings in Vulcan Materials were worth $27,117,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. SouthState Corp boosted its holdings in shares of Vulcan Materials by 669.2% during the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after acquiring an additional 87 shares during the last quarter. Kings Path Partners LLC purchased a new stake in Vulcan Materials in the second quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new stake in Vulcan Materials in the 3rd quarter worth approximately $30,000. UMB Bank n.a. raised its stake in Vulcan Materials by 61.8% during the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock valued at $31,000 after buying an additional 47 shares during the last quarter. Finally, Concord Wealth Partners purchased a new stake in Vulcan Materials during the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. UBS Group started coverage on Vulcan Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $349.00 price objective for the company. 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. StockNews.com raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. 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. Finally, Royal Bank of Canada cut their target price on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $280.46.

Vulcan Materials Stock Up 2.0 %

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

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

Vulcan Materials Dividend Announcement

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

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.