Vulcan Materials Company (NYSE:VMC) Stock Position Lifted by Citigroup Inc.

Citigroup Inc. raised its stake in Vulcan Materials Company (NYSE:VMC) by 64.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 144,372 shares of the construction company’s stock after buying an additional 56,354 shares during the quarter. Citigroup Inc. owned 0.11% of Vulcan Materials worth $33,682,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VMC. Opal Wealth Advisors LLC purchased a new stake in shares of Vulcan Materials during the first quarter worth $27,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Vulcan Materials during the 4th quarter worth about $35,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Vulcan Materials during the 4th quarter valued at about $46,000. Manchester Capital Management LLC grew its stake in shares of Vulcan Materials by 26.9% in the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company’s stock valued at $43,000 after buying an additional 39 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in Vulcan Materials in the first quarter worth approximately $45,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Shares of NYSE:VMC opened at $285.15 on Tuesday. The firm has a market capitalization of $37.67 billion, a PE ratio of 39.83, a PEG ratio of 2.34 and a beta of 0.83. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. Vulcan Materials Company has a 1-year low of $215.08 and a 1-year high of $298.31. The business’s 50 day moving average is $267.50 and its 200-day moving average is $257.88.

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 analysts’ consensus estimates of $2.65 by ($0.20). The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.35 EPS. Sell-side analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley cut their price objective on shares of 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. Barclays upped their price objective on shares of Vulcan Materials from $285.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Stifel Nicolaus raised their target price on Vulcan Materials from $287.00 to $309.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Royal Bank Of Canada reduced their price target on Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating for the company in a research report on Friday, August 1st. Finally, Argus raised Vulcan Materials to a “strong-buy” rating in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $304.27.

Insider Buying and Selling

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

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.