Vulcan Materials Company $VMC Shares Sold by London Co. of Virginia

London Co. of Virginia decreased its position in Vulcan Materials Company (NYSE:VMC) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 723,104 shares of the construction company’s stock after selling 30,801 shares during the period. London Co. of Virginia owned approximately 0.55% of Vulcan Materials worth $188,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. ORG Partners LLC raised its stake in shares of Vulcan Materials by 86.3% in the second quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock worth $25,000 after purchasing an additional 44 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in Vulcan Materials in the 2nd quarter worth approximately $32,000. Concord Wealth Partners purchased a new position in Vulcan Materials during the 2nd quarter worth approximately $33,000. Steph & Co. purchased a new position in Vulcan Materials during the 2nd quarter worth approximately $55,000. Finally, Clearstead Trust LLC lifted its stake in Vulcan Materials by 71.7% during the 2nd quarter. Clearstead Trust LLC now owns 218 shares of the construction company’s stock valued at $57,000 after acquiring an additional 91 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

VMC has been the topic of a number of research reports. Barclays increased their price objective on shares of Vulcan Materials from $305.00 to $320.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Royal Bank Of Canada cut their price target on Vulcan Materials from $279.00 to $278.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. JPMorgan Chase & Co. lifted their price objective on Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. DA Davidson upped their target price on Vulcan Materials from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Finally, Raymond James Financial raised their target price on Vulcan Materials from $295.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $317.58.

Insiders Place Their Bets

In other news, SVP David P. Clement sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $288.55, for a total transaction of $577,100.00. Following the completion of the transaction, the senior vice president directly owned 832 shares in the company, valued at $240,073.60. This trade represents a 70.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Denson N. Franklin III sold 665 shares of Vulcan Materials stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $295.00, for a total value of $196,175.00. Following the completion of the sale, the senior vice president directly owned 8,284 shares of the company’s stock, valued at $2,443,780. The trade was a 7.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 13,336 shares of company stock worth $3,908,336 over the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Vulcan Materials Stock Down 1.1%

Shares of VMC opened at $296.07 on Friday. The company’s 50-day moving average price is $293.38 and its 200 day moving average price is $283.81. Vulcan Materials Company has a 12-month low of $215.08 and a 12-month high of $311.74. The company has a current ratio of 2.23, a quick ratio of 1.56 and a debt-to-equity ratio of 0.50. The firm has a market cap of $39.12 billion, a P/E ratio of 35.16, a price-to-earnings-growth ratio of 2.45 and a beta of 1.06.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.12. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Vulcan Materials had a net margin of 14.19% and a return on equity of 13.47%. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period last year, the business earned $2.22 earnings per share. On average, sell-side analysts forecast that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Monday, November 10th were given a $0.49 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. Vulcan Materials’s payout ratio is presently 23.28%.

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.