Chevy Chase Trust Holdings LLC Has $17.96 Million Stake in Vulcan Materials (NYSE:VMC)

Chevy Chase Trust Holdings LLC reduced its stake in shares of Vulcan Materials (NYSE:VMC) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,234 shares of the construction company’s stock after selling 1,392 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Vulcan Materials were worth $17,963,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VMC. Register Financial Advisors LLC acquired a new position in shares of Vulcan Materials in the first quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Vulcan Materials in the 1st quarter valued at $33,000. YHB Investment Advisors Inc. acquired a new stake in shares of Vulcan Materials during the first quarter worth $34,000. Concord Wealth Partners acquired a new position in Vulcan Materials in the first quarter valued at $34,000. Finally, Manchester Capital Management LLC increased its holdings in Vulcan Materials by 1,218.2% in the first quarter. Manchester Capital Management LLC now owns 145 shares of the construction company’s stock worth $40,000 after purchasing an additional 134 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on VMC shares. Citigroup cut their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Stephens reduced their price target on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada dropped their price objective on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Loop Capital reduced their target price on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, Truist Financial decreased their target price on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $274.73.

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 1,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $254.50, for a total value of $254,500.00. Following the sale, the senior vice president now directly owns 2,660 shares of the company’s stock, valued at $676,970. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.62% of the company’s stock.

Vulcan Materials Stock Performance

Shares of NYSE VMC traded up $1.31 during midday trading on Tuesday, hitting $245.60. The company’s stock had a trading volume of 533,579 shares, compared to its average volume of 796,159. The firm has a market capitalization of $32.43 billion, a price-to-earnings ratio of 35.97, a P/E/G ratio of 2.23 and a beta of 0.82. The company has a current ratio of 2.48, a quick ratio of 1.66 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average price of $251.50 and a 200 day moving average price of $257.02. Vulcan Materials has a one year low of $190.51 and a one year high of $278.79.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm earned $2.29 EPS. The company’s revenue was down 4.7% compared to the same quarter last year. On average, research analysts forecast that Vulcan Materials will post 7.86 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be paid a $0.46 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.84 annualized dividend and a yield of 0.75%. Vulcan Materials’s dividend payout ratio is currently 26.86%.

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.