Ables Iannone Moore & Associates Inc. Sells 173 Shares of Vulcan Materials Company $VMC

Ables Iannone Moore & Associates Inc. lessened its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,429 shares of the construction company’s stock after selling 173 shares during the quarter. Vulcan Materials makes up approximately 1.9% of Ables Iannone Moore & Associates Inc.’s portfolio, making the stock its 13th largest holding. Ables Iannone Moore & Associates Inc.’s holdings in Vulcan Materials were worth $2,981,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VMC. Opal Wealth Advisors LLC bought a new position in Vulcan Materials during the first quarter valued at approximately $27,000. Manchester Capital Management LLC raised its position in Vulcan Materials by 26.9% during the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company’s stock valued at $43,000 after acquiring an additional 39 shares in the last quarter. Wayfinding Financial LLC bought a new position in Vulcan Materials during the first quarter valued at approximately $45,000. Fourth Dimension Wealth LLC bought a new position in Vulcan Materials during the fourth quarter valued at approximately $46,000. Finally, Rakuten Securities Inc. bought a new position in shares of Vulcan Materials in the first quarter valued at approximately $54,000. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Trading Down 2.3%

Shares of Vulcan Materials stock opened at $294.84 on Friday. The firm has a market capitalization of $38.96 billion, a PE ratio of 41.18, a price-to-earnings-growth ratio of 2.46 and a beta of 0.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13. The company’s fifty day moving average price is $281.99 and its two-hundred day moving average price is $262.11. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $302.21.

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

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 14th. Vulcan Materials’s payout ratio is currently 27.37%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VMC. Morgan Stanley dropped their price target 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. Citigroup reissued a “buy” rating and issued a $321.00 price target (up previously from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. JPMorgan Chase & Co. raised their price objective on shares of Vulcan Materials from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. Royal Bank Of Canada lowered their price objective on shares of Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating on the stock in a research note on Friday, August 1st. Finally, Barclays raised their price objective on shares of Vulcan Materials from $285.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Vulcan Materials currently has a consensus rating of “Buy” and an average price target of $308.36.

About Vulcan Materials

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.