iA Global Asset Management Inc. Sells 290 Shares of Vulcan Materials Company (NYSE:VMC)

iA Global Asset Management Inc. cut its holdings in Vulcan Materials Company (NYSE:VMC) by 0.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,160 shares of the construction company’s stock after selling 290 shares during the period. iA Global Asset Management Inc.’s holdings in Vulcan Materials were worth $8,436,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. ABC Arbitrage SA purchased a new position in shares of Vulcan Materials in the first quarter valued at $1,049,000. Atria Wealth Solutions Inc. lifted its holdings in shares of Vulcan Materials by 7.8% in the first quarter. Atria Wealth Solutions Inc. now owns 3,870 shares of the construction company’s stock worth $903,000 after buying an additional 281 shares in the last quarter. Farrow Financial Inc. increased its holdings in Vulcan Materials by 17.7% during the 1st quarter. Farrow Financial Inc. now owns 9,604 shares of the construction company’s stock worth $2,241,000 after acquiring an additional 1,447 shares during the period. Empower Advisory Group LLC boosted its holdings in Vulcan Materials by 1.1% in the 1st quarter. Empower Advisory Group LLC now owns 40,313 shares of the construction company’s stock valued at $9,405,000 after purchasing an additional 419 shares during the period. Finally, Weitz Investment Management Inc. grew its position in shares of Vulcan Materials by 10.7% during the 1st quarter. Weitz Investment Management Inc. now owns 211,900 shares of the construction company’s stock valued at $49,436,000 after purchasing an additional 20,500 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Vulcan Materials Trading Up 0.5%

VMC stock opened at $283.25 on Wednesday. Vulcan Materials Company has a one year low of $215.08 and a one year high of $298.31. The company has a market capitalization of $37.42 billion, a PE ratio of 39.56, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83. The company’s 50 day moving average price is $265.90 and its two-hundred day moving average price is $257.74. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.20). Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the firm earned $2.35 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, August 14th. Vulcan Materials’s dividend payout ratio (DPR) is presently 27.37%.

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $270.00, for a total value of $405,000.00. Following the completion of the sale, the senior vice president owned 2,832 shares in the company, valued at approximately $764,640. The trade was a 34.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VMC. Morgan Stanley lowered their price objective on Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Monday, July 28th. Citigroup raised their price target on Vulcan Materials from $305.00 to $321.00 and gave the company a “buy” rating in a report on Monday. Raymond James Financial dropped their price target on Vulcan Materials from $300.00 to $295.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. Royal Bank Of Canada cut their price objective on Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating for the company in a report on Friday, August 1st. Finally, Stifel Nicolaus raised their target price on shares of Vulcan Materials from $287.00 to $309.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $304.27.

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.