Palmer Knight Co Has $5.53 Million Stock Position in Vulcan Materials (NYSE:VMC)

Palmer Knight Co lowered its position in Vulcan Materials (NYSE:VMC) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,347 shares of the construction company’s stock after selling 93 shares during the period. Vulcan Materials accounts for about 3.3% of Palmer Knight Co’s holdings, making the stock its 20th biggest position. Palmer Knight Co’s holdings in Vulcan Materials were worth $5,527,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. AE Wealth Management LLC lifted its stake in Vulcan Materials by 5.3% during the third quarter. AE Wealth Management LLC now owns 2,924 shares of the construction company’s stock worth $591,000 after purchasing an additional 147 shares during the last quarter. Golden State Equity Partners grew its stake in shares of Vulcan Materials by 13.6% in the 3rd quarter. Golden State Equity Partners now owns 1,072 shares of the construction company’s stock worth $217,000 after buying an additional 128 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in Vulcan Materials by 1.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 35,095 shares of the construction company’s stock valued at $7,090,000 after acquiring an additional 500 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Vulcan Materials by 196.5% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 25,200 shares of the construction company’s stock valued at $5,091,000 after acquiring an additional 16,700 shares in the last quarter. Finally, Vicus Capital bought a new position in shares of Vulcan Materials during the 3rd quarter valued at $249,000. Institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on VMC. Citigroup raised their price objective on Vulcan Materials from $263.00 to $322.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Jefferies Financial Group lifted their price target on shares of Vulcan Materials from $298.00 to $319.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Morgan Stanley assumed coverage on Vulcan Materials in a research report on Monday, January 8th. They issued an “equal weight” rating and a $208.00 target price on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $270.00 price target (up from $245.00) on shares of Vulcan Materials in a report on Friday, March 22nd. Finally, Royal Bank of Canada increased their target price on shares of Vulcan Materials from $236.00 to $269.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 20th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $273.00.

Insider Buying and Selling

In other news, VP Randy L. Pigg sold 307 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.27, for a total transaction of $78,367.89. Following the completion of the transaction, the vice president now owns 1,896 shares in the company, valued at approximately $483,991.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Randy L. Pigg sold 307 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.27, for a total value of $78,367.89. Following the completion of the transaction, the vice president now owns 1,896 shares in the company, valued at approximately $483,991.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Denson N. Franklin III sold 3,200 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $269.48, for a total value of $862,336.00. Following the completion of the transaction, the senior vice president now owns 5,395 shares of the company’s stock, valued at approximately $1,453,844.60. The disclosure for this sale can be found here. Insiders have sold a total of 13,017 shares of company stock valued at $3,344,741 over the last ninety days. 0.61% of the stock is owned by company insiders.

Vulcan Materials Stock Performance

VMC traded up $0.98 during trading on Monday, reaching $262.22. 280,181 shares of the company’s stock were exchanged, compared to its average volume of 774,473. Vulcan Materials has a fifty-two week low of $174.17 and a fifty-two week high of $276.58. The company has a quick ratio of 2.39, a current ratio of 3.17 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $264.85 and a 200 day moving average price of $235.03. The company has a market capitalization of $34.68 billion, a P/E ratio of 37.43, a PEG ratio of 1.89 and a beta of 0.83.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Friday, February 16th. The construction company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.06. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Vulcan Materials had a return on equity of 12.80% and a net margin of 11.99%. Vulcan Materials’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 EPS. As a group, analysts predict that Vulcan Materials will post 8.47 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were issued a dividend of $0.46 per share. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, March 1st. Vulcan Materials’s payout ratio is 26.36%.

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.