Equitable Trust Co. Sells 529 Shares of Vulcan Materials (NYSE:VMC)

Equitable Trust Co. cut its position in shares of Vulcan Materials (NYSE:VMC) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,762 shares of the construction company’s stock after selling 529 shares during the period. Equitable Trust Co.’s holdings in Vulcan Materials were worth $4,914,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital World Investors purchased a new stake in shares of Vulcan Materials in the first quarter valued at approximately $388,027,000. Norges Bank purchased a new stake in Vulcan Materials in the fourth quarter valued at about $282,528,000. Vanguard Group Inc. boosted its holdings in Vulcan Materials by 5.0% in the first quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock worth $4,368,273,000 after acquiring an additional 755,991 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Vulcan Materials by 271.0% during the fourth quarter. Point72 Asset Management L.P. now owns 823,141 shares of the construction company’s stock worth $186,861,000 after acquiring an additional 601,268 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Vulcan Materials by 621.1% during the first quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock valued at $64,581,000 after acquiring an additional 203,166 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Vulcan Materials Stock Performance

VMC traded up $3.93 on Friday, reaching $245.21. The stock had a trading volume of 844,615 shares, compared to its average volume of 1,013,712. The business’s 50-day moving average price is $250.44 and its two-hundred day moving average price is $257.47. The company has a market cap of $32.38 billion, a P/E ratio of 35.80, a price-to-earnings-growth ratio of 2.25 and a beta of 0.82. Vulcan Materials has a 12-month low of $190.51 and a 12-month high of $278.79. The company has a current ratio of 2.48, a quick ratio of 1.66 and a debt-to-equity ratio of 0.43.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Tuesday, August 6th. The construction company reported $2.35 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 analyst estimates of $2.03 billion. During the same quarter last year, the business earned $2.29 earnings per share. Vulcan Materials’s revenue was down 4.7% on a year-over-year basis. Sell-side analysts forecast that Vulcan Materials will post 7.82 earnings per share for the current year.

Vulcan Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, August 15th. Vulcan Materials’s dividend payout ratio is presently 26.86%.

Insider Buying and Selling

In related news, SVP David P. Clement sold 1,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $249.50, for a total transaction of $249,500.00. Following the completion of the sale, the senior vice president now owns 1,660 shares of the company’s stock, valued at approximately $414,170. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.62% of the stock is owned by company insiders.

Vulcan Materials 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.