Home Federal Bank of Tennessee Sells 1,649 Shares of Vulcan Materials Company $VMC

Home Federal Bank of Tennessee trimmed its position in shares of Vulcan Materials Company (NYSE:VMC) by 31.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,571 shares of the construction company’s stock after selling 1,649 shares during the quarter. Home Federal Bank of Tennessee’s holdings in Vulcan Materials were worth $931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of VMC. Brighton Jones LLC bought a new position in shares of Vulcan Materials during the 4th quarter valued at $497,000. Vise Technologies Inc. bought a new position in shares of Vulcan Materials during the 4th quarter valued at $332,000. Toronto Dominion Bank lifted its holdings in shares of Vulcan Materials by 7.3% during the 4th quarter. Toronto Dominion Bank now owns 70,790 shares of the construction company’s stock valued at $18,209,000 after buying an additional 4,826 shares during the period. Forum Financial Management LP lifted its holdings in shares of Vulcan Materials by 7.1% during the 4th quarter. Forum Financial Management LP now owns 1,515 shares of the construction company’s stock valued at $390,000 after buying an additional 101 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Vulcan Materials by 14.3% during the 4th quarter. Mackenzie Financial Corp now owns 70,885 shares of the construction company’s stock valued at $18,234,000 after buying an additional 8,866 shares during the period. 90.39% of the stock is owned by institutional investors.

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $298.56, for a total value of $208,394.88. Following the completion of the sale, the senior vice president owned 2,832 shares in the company, valued at approximately $845,521.92. This represents a 19.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

VMC has been the topic of several research analyst reports. Citigroup reissued a “buy” rating and set a $321.00 price target (up from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Barclays increased their price target on Vulcan Materials from $285.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Morgan Stanley reduced their price objective on Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating for the company in a research note on Monday, July 28th. Royal Bank Of Canada reduced their price objective on Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating for the company in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. upped their price objective on Vulcan Materials from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $308.36.

Vulcan Materials Trading Down 0.5%

Shares of VMC stock opened at $297.36 on Wednesday. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $302.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67. The firm has a market capitalization of $39.29 billion, a PE ratio of 41.53, a PEG ratio of 2.44 and a beta of 0.86. The stock has a fifty day simple moving average of $285.95 and a two-hundred day simple moving average of $264.94.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $2.23 billion. During the same quarter in the previous year, the company posted $2.35 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts predict that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

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

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.