Massachusetts Financial Services Co. MA Sells 89,596 Shares of Vulcan Materials (NYSE:VMC)

Massachusetts Financial Services Co. MA trimmed its position in Vulcan Materials (NYSE:VMC) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,187,744 shares of the construction company’s stock after selling 89,596 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.05% of Vulcan Materials worth $1,787,448,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Capital World Investors bought a new stake in Vulcan Materials in the first quarter valued at approximately $388,027,000. Norges Bank bought a new stake in Vulcan Materials in the 4th quarter valued at $282,528,000. Vanguard Group Inc. lifted its holdings in Vulcan Materials by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock valued at $4,368,273,000 after purchasing an additional 755,991 shares during the last quarter. Point72 Asset Management L.P. boosted its position in 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 purchasing an additional 601,268 shares during the period. Finally, Nordea Investment Management AB boosted its position in Vulcan Materials by 621.1% during the first quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock worth $64,581,000 after purchasing an additional 203,166 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Vulcan Materials Stock Up 0.5 %

VMC stock opened at $237.47 on Monday. Vulcan Materials has a 52 week low of $190.51 and a 52 week high of $278.79. The business has a 50-day simple moving average of $248.40 and a 200 day simple moving average of $256.15. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.43. The company has a market cap of $31.36 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Tuesday, August 6th. The construction company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.12). The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.03 billion. Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. Vulcan Materials’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 earnings per share. Sell-side analysts anticipate that Vulcan Materials will post 7.73 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, August 15th. Vulcan Materials’s payout ratio is presently 26.86%.

Analysts Set New Price Targets

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

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.