Vulcan Materials (NYSE:VMC) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. trimmed its stake in Vulcan Materials (NYSE:VMC) by 47.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 188,583 shares of the construction company’s stock after selling 168,556 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.14% of Vulcan Materials worth $25,894,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Patten & Patten Inc. TN raised its holdings in shares of Vulcan Materials by 0.9% in the second quarter. Patten & Patten Inc. TN now owns 8,579 shares of the construction company’s stock worth $1,178,000 after acquiring an additional 75 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Vulcan Materials by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 13,757 shares of the construction company’s stock valued at $1,889,000 after purchasing an additional 82 shares during the period. Veritable L.P. grew its position in shares of Vulcan Materials by 3.8% in the second quarter. Veritable L.P. now owns 2,261 shares of the construction company’s stock valued at $310,000 after purchasing an additional 82 shares during the period. World Asset Management Inc grew its position in shares of Vulcan Materials by 1.0% in the second quarter. World Asset Management Inc now owns 9,209 shares of the construction company’s stock valued at $1,264,000 after purchasing an additional 90 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Vulcan Materials by 1.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,380 shares of the construction company’s stock valued at $740,000 after purchasing an additional 93 shares during the period. 95.21% of the stock is owned by institutional investors.

In other Vulcan Materials news, insider Stanley G. Bass sold 2,406 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $141.94, for a total transaction of $341,507.64. Following the completion of the sale, the insider now owns 35,263 shares of the company’s stock, valued at $5,005,230.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stanley G. Bass sold 6,207 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $135.80, for a total value of $842,910.60. Following the sale, the insider now directly owns 53,813 shares of the company’s stock, valued at approximately $7,307,805.40. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

VMC stock traded down $0.50 during trading on Friday, reaching $149.80. 846,227 shares of the stock traded hands, compared to its average volume of 860,363. The business’s 50 day moving average price is $141.95 and its 200-day moving average price is $130.74. Vulcan Materials has a 52-week low of $82.52 and a 52-week high of $151.51. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.89 and a quick ratio of 1.23. The firm has a market capitalization of $19.66 billion, a PE ratio of 36.99, a P/E/G ratio of 1.75 and a beta of 0.93.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.03. Vulcan Materials had a return on equity of 11.07% and a net margin of 12.12%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the business earned $1.23 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts predict that Vulcan Materials will post 4.84 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Tuesday, August 20th. Vulcan Materials’s dividend payout ratio (DPR) is presently 30.62%.

A number of equities research analysts have recently commented on VMC shares. JPMorgan Chase & Co. lifted their price objective on Vulcan Materials from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Argus set a $152.00 price objective on Vulcan Materials and gave the company a “buy” rating in a research report on Friday, July 26th. Longbow Research lifted their price objective on Vulcan Materials from $145.00 to $153.00 and gave the company a “buy” rating in a research report on Friday, July 26th. ValuEngine downgraded Vulcan Materials from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Barclays lifted their price objective on Vulcan Materials from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $143.00.

About Vulcan Materials

Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the 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.

Read More: Certificate of Deposit (CD)

Institutional Ownership by Quarter for Vulcan Materials (NYSE:VMC)

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