Parnassus Investments LLC Sells 7,176 Shares of Vulcan Materials Company $VMC

Parnassus Investments LLC trimmed its holdings in Vulcan Materials Company (NYSE:VMC) by 3.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 190,620 shares of the construction company’s stock after selling 7,176 shares during the quarter. Parnassus Investments LLC owned 0.14% of Vulcan Materials worth $58,639,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. ORG Partners LLC grew its stake 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 buying an additional 44 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new position in Vulcan Materials in the 2nd quarter worth approximately $32,000. Concord Wealth Partners bought a new stake in Vulcan Materials in the second quarter valued at approximately $33,000. Steph & Co. purchased a new stake in shares of Vulcan Materials during the second quarter valued at approximately $55,000. Finally, Clearstead Trust LLC grew its holdings in shares of Vulcan Materials by 71.7% in the second quarter. Clearstead Trust LLC now owns 218 shares of the construction company’s stock worth $57,000 after purchasing an additional 91 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

VMC has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Vulcan Materials in a report on Thursday, October 30th. Wells Fargo & Company raised shares of Vulcan Materials to a “hold” rating in a research note on Wednesday, October 8th. Citigroup increased their target price on shares of Vulcan Materials from $342.00 to $345.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price target on Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Finally, Royal Bank Of Canada dropped their price objective on Vulcan Materials from $279.00 to $278.00 and set a “sector perform” rating for the company in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $317.83.

Insider Transactions at Vulcan Materials

In related news, SVP Denson N. Franklin III sold 665 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $295.00, for a total transaction of $196,175.00. Following the sale, the senior vice president 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David P. Clement sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $288.55, for a total transaction of $577,100.00. Following the transaction, the senior vice president directly owned 832 shares of the company’s stock, valued at $240,073.60. This represents a 70.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,471 shares of company stock valued at $6,054,615 in the last three months. 0.62% of the stock is currently owned by company insiders.

Vulcan Materials Stock Performance

Vulcan Materials stock opened at $311.71 on Friday. Vulcan Materials Company has a fifty-two week low of $215.08 and a fifty-two week high of $311.92. The stock’s 50 day simple moving average is $291.60 and its two-hundred day simple moving average is $288.02. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.56 and a current ratio of 2.23. The stock has a market cap of $41.19 billion, a price-to-earnings ratio of 37.02, a PEG ratio of 2.11 and a beta of 1.06.

Vulcan Materials (NYSE:VMC) last released 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. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Vulcan Materials had a return on equity of 13.47% and a net margin of 14.19%.The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.22 EPS. As a group, analysts expect that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Company Profile

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.