Envestnet Asset Management Inc. Reduces Stock Position in Vulcan Materials Company $VMC

Envestnet Asset Management Inc. lessened its position in shares of Vulcan Materials Company (NYSE:VMC) by 1.4% during the 2nd quarter, Holdings Channel reports. The firm owned 260,922 shares of the construction company’s stock after selling 3,737 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Vulcan Materials were worth $68,054,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its stake in Vulcan Materials by 21.0% during the 1st quarter. Golden State Wealth Management LLC now owns 951 shares of the construction company’s stock valued at $222,000 after purchasing an additional 165 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Vulcan Materials by 26.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 19,938 shares of the construction company’s stock worth $5,308,000 after buying an additional 4,140 shares during the last quarter. Atria Wealth Solutions Inc. boosted its stake 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 during the last quarter. Diversified Trust Co boosted its stake in shares of Vulcan Materials by 3.2% in the second quarter. Diversified Trust Co now owns 1,625 shares of the construction company’s stock worth $424,000 after buying an additional 51 shares during the last quarter. Finally, Atika Capital Management LLC purchased a new stake in shares of Vulcan Materials in the first quarter worth about $1,120,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insider Activity at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $298.56, for a total transaction of $208,394.88. Following the completion of the transaction, the senior vice president owned 2,832 shares of the company’s stock, valued at $845,521.92. This represents a 19.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on VMC shares. Morgan Stanley lowered their target price on Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Monday, July 28th. Citigroup restated a “buy” rating and issued a $321.00 target price (up previously from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Wells Fargo & Company upgraded Vulcan Materials to a “hold” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Finally, Raymond James Financial upped their target price on Vulcan Materials from $295.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and a consensus price target of $313.17.

Vulcan Materials Stock Performance

Shares of VMC stock opened at $290.13 on Friday. The company has a market capitalization of $38.33 billion, a P/E ratio of 40.52, a P/E/G ratio of 2.39 and a beta of 0.92. The business’s 50 day moving average is $296.63 and its two-hundred day moving average is $277.08. 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 12-month low of $215.08 and a 12-month high of $311.74.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Thursday, October 30th. The construction company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.12. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the prior year, the firm earned $2.22 earnings per share. The business’s revenue was up 14.4% compared to the same quarter last year. Analysts expect that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Monday, November 10th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.7%. 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.