DAVENPORT & Co LLC holds a $976,000 equity position in Vulcan Materials (NYSE: VMC)
DAVENPORT & Co LLC reduced its position in Vulcan Materials (NYSE: VMC – Get a rating) by 4.1% in the 1st quarter, according to its last filing with the Securities & Exchange Commission. The company held 5,313 shares of the construction company after selling 230 shares during the period. DAVENPORT & Co LLC’s holdings in Vulcan Materials were worth $976,000 at the end of last quarter.
Other institutional investors and hedge funds have also recently changed their positions in the company. Private Advisor Group LLC acquired a new position in shares of Vulcan Materials in Q4 worth $385,000. Wetherby Asset Management Inc. increased its stake in Vulcan Materials by 4.7% in the fourth quarter. Wetherby Asset Management Inc. now owns 1,947 shares of the construction company worth $404,000 after purchasing 87 additional shares during the period. Kepos Capital LP increased its stake in Vulcan Materials by 36.9% in the 4th quarter. Kepos Capital LP now owns 7,620 shares of the construction company worth $1,582,000 after purchasing an additional 2,054 shares during the period. Caisse DE Dépôt ET Placement DU Québec increased its stake in Vulcan Materials by 17.9% in the 4th quarter. Caisse DE Dépôt ET Placement DU Quebec now owns 4,000 shares of the construction company worth $830,000 after purchasing an additional 608 shares during the period. Finally, Dupont Capital Management Corp increased its stake in Vulcan Materials by 1,756.7% in the 1st quarter. Dupont Capital Management Corp now owns 14,445 shares of the construction company worth $2,654,000 after purchasing an additional 13,667 shares during the period. Institutional investors and hedge funds hold 88.38% of the company’s shares.
Insider Activity at Vulcan Materials
In related news, the director Melissa H.Anderson bought 500 shares of the company in a transaction that took place on Saturday, May 14. The shares were acquired at an average price of $191.46 per share, for a total transaction of $95,730.00. Following the purchase, the director now owns 500 shares of the company, valued at $95,730. The purchase was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Separately, SVP David P. Clement sold 3,377 shares of the company in a transaction dated Tuesday, June 7. The shares were sold at an average price of $165.23, for a total value of $557,981.71. As a result of the transaction, the senior vice president now owns 3,970 shares of the company, valued at approximately $655,963.10. The sale was disclosed in a document filed with the SEC, accessible via this link. Additionally, director Melissa H. Anderson purchased 500 shares of the company in a trade on Saturday, May 14. The shares were acquired at an average price of $191.46 per share, for a total transaction of $95,730.00. Following the transaction, the administrator now owns 500 shares of the company, valued at $95,730. Disclosure of this purchase can be found here. 0.55% of the shares are held by insiders of the company.
Analyst upgrades and downgrades
A number of stock analysts have weighed in on VMC shares recently. Morgan Stanley cut its price target on shares of Vulcan Materials from $203.00 to $180.00 and set an “equal weight” rating for the company in a Monday, July 18 research note. DA Davidson cut his price target on Vulcan Materials shares from $220.00 to $195.00 and set a “buy” rating for the company in a Tuesday, July 19 research note. Wolfe Research cut its price target on Vulcan Materials shares from $211.00 to $194.00 and set an “outperform” rating for the company in a Thursday, July 14 research note. StockNews.com began covering Vulcan Materials shares in a research report on Thursday, March 31. They have placed a “holding” rating on the stock. Finally, Goldman Sachs Group cut its price target on Vulcan Materials shares from $215.00 to $189.00 and set a “neutral” rating on the stock in a Thursday, June 23 research report. Seven investment analysts gave the stock a hold rating and ten gave the company a buy rating. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $211.13.
Vulcan Materials Stock down 0.5%
Shares of CMV stock opened at $155.65 on Monday. The company has a debt ratio of 0.59, a quick ratio of 1.27 and a current ratio of 1.86. The company’s 50-day moving average is $153.82 and its 200-day moving average is $171.83. The stock has a market capitalization of $20.69 billion, a price/earnings ratio of 34.59, a PEG ratio of 1.83 and a beta of 0.75. Vulcan Materials has a 52-week low of $137.54 and a 52-week high of $213.65.
Vulcan materials (NYSE: VMC – Get a rating) last reported results on Wednesday, May 4. The construction company reported earnings per share (EPS) of $0.73 for the quarter, beating consensus analyst estimates of $0.62 by $0.11. The company posted revenue of $1.54 billion for the quarter, versus $1.44 billion for analysts. Vulcan Materials had a net margin of 9.99% and a return on equity of 10.49%. Vulcan Materials quarterly revenue increased 44.2% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $0.69. Sell-side analysts expect Vulcan Materials to post EPS of 5.91 for the current year.
Vulcan Materials Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 2. Investors of record on Wednesday, August 17 will receive a dividend of $0.40. The ex-dividend date is Tuesday, August 16. This represents a dividend of $1.60 on an annualized basis and a yield of 1.03%. Vulcan Materials’ dividend payout ratio (DPR) is currently 35.56%.
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 Aggregates segment provides crushed stone, sand and gravel, sand and other aggregates; and related products and services that are applied in the construction and maintenance of highways, streets and other public works, as well as in the construction of housing and commercial, industrial and other non-residential facilities.
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