Vulcan Materials Company $VMC Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. trimmed its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 6.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 6,483 shares of the construction company’s stock after selling 420 shares during the quarter. Griffin Asset Management Inc.’s holdings in Vulcan Materials were worth $1,691,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Unified Investment Management boosted its holdings in Vulcan Materials by 1.7% in the second quarter. Unified Investment Management now owns 2,259 shares of the construction company’s stock worth $589,000 after purchasing an additional 38 shares during the period. Manchester Capital Management LLC boosted its holdings in shares of 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 during the period. Chemistry Wealth Management LLC boosted its holdings in shares of Vulcan Materials by 3.0% during the second quarter. Chemistry Wealth Management LLC now owns 1,343 shares of the construction company’s stock valued at $350,000 after acquiring an additional 39 shares during the period. ORG Partners LLC boosted its holdings in shares of Vulcan Materials by 86.3% during the second quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock valued at $25,000 after acquiring an additional 44 shares during the period. Finally, DRW Securities LLC boosted its holdings in shares of Vulcan Materials by 2.6% during the first quarter. DRW Securities LLC now owns 1,748 shares of the construction company’s stock valued at $408,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

VMC stock opened at $301.48 on Monday. The company has a market capitalization of $39.83 billion, a P/E ratio of 42.11, a PEG ratio of 2.46 and a beta of 0.92. The company has a 50-day simple moving average of $294.29 and a 200 day simple moving average of $271.33. Vulcan Materials Company has a fifty-two week low of $215.08 and a fifty-two week high of $309.17. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data 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). The company had revenue of $2.10 billion during 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 business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.35 EPS. Sell-side analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Monday, November 10th will be given a $0.49 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.96 annualized dividend and a yield of 0.7%. Vulcan Materials’s payout ratio is 27.37%.

Insider Buying and Selling

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $298.56, for a total value of $208,394.88. Following the sale, the senior vice president directly owned 2,832 shares in the company, valued at approximately $845,521.92. The trade was a 19.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

VMC has been the subject of several analyst reports. Wells Fargo & Company raised shares of Vulcan Materials to a “hold” rating in a report on Wednesday, October 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Vulcan Materials in a report on Wednesday, October 8th. Royal Bank Of Canada reduced their price target on shares of Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating for the company in a report on Friday, August 1st. Morgan Stanley reduced their price target on shares of Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating for the company in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Vulcan Materials from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Vulcan Materials has a consensus rating of “Moderate Buy” and a consensus price target of $308.58.

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.