Reliant Investment Management LLC Has $5.73 Million Holdings in Vulcan Materials (NYSE:VMC)

Reliant Investment Management LLC cut its holdings in shares of Vulcan Materials (NYSE:VMC) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,008 shares of the construction company’s stock after selling 345 shares during the period. Vulcan Materials comprises approximately 2.7% of Reliant Investment Management LLC’s holdings, making the stock its 17th largest holding. Reliant Investment Management LLC’s holdings in Vulcan Materials were worth $5,734,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC lifted its position in shares of Vulcan Materials by 5.0% during the third quarter. LPL Financial LLC now owns 73,930 shares of the construction company’s stock worth $14,935,000 after purchasing an additional 3,519 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Vulcan Materials in the 3rd quarter valued at $1,952,000. O Shaughnessy Asset Management LLC boosted its holdings in Vulcan Materials by 19.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 8,498 shares of the construction company’s stock valued at $1,717,000 after acquiring an additional 1,390 shares during the last quarter. Vinva Investment Management Ltd grew its position in shares of Vulcan Materials by 39.8% during the 3rd quarter. Vinva Investment Management Ltd now owns 3,703 shares of the construction company’s stock worth $759,000 after buying an additional 1,054 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in shares of Vulcan Materials by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 58,208 shares of the construction company’s stock worth $11,759,000 after buying an additional 290 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Stock Performance

Shares of NYSE:VMC traded up $0.92 on Friday, hitting $248.68. The company had a trading volume of 988,674 shares, compared to its average volume of 750,945. The stock has a market cap of $32.89 billion, a price-to-earnings ratio of 36.27, a P/E/G ratio of 1.85 and a beta of 0.84. The stock has a 50 day moving average price of $256.82 and a 200 day moving average price of $249.62. Vulcan Materials has a 1-year low of $190.51 and a 1-year high of $276.58. The company has a current ratio of 2.74, a quick ratio of 1.81 and a debt-to-equity ratio of 0.44.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.11). Vulcan Materials had a net margin of 11.92% and a return on equity of 12.32%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company earned $0.95 earnings per share. The firm’s revenue was down 6.2% compared to the same quarter last year. Analysts expect that Vulcan Materials will post 8.51 EPS for the current year.

Vulcan Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were paid a $0.46 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.84 annualized dividend and a yield of 0.74%. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

Insider Buying and Selling at Vulcan Materials

In other news, President Thompson S. Baker II sold 6,610 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $272.64, for a total value of $1,802,150.40. Following the completion of the sale, the president now owns 4,784 shares of the company’s stock, valued at $1,304,309.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, President Thompson S. Baker II sold 6,610 shares of Vulcan Materials stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $272.64, for a total value of $1,802,150.40. Following the completion of the sale, the president now directly owns 4,784 shares in the company, valued at $1,304,309.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Thompson S. Baker II sold 8,600 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $272.95, for a total value of $2,347,370.00. Following the sale, the president now directly owns 1,300 shares in the company, valued at approximately $354,835. The disclosure for this sale can be found here. Insiders have sold a total of 17,210 shares of company stock valued at $4,653,520 in the last ninety days. 0.62% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on VMC. Citigroup raised their price objective on Vulcan Materials from $263.00 to $322.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Wolfe Research cut Vulcan Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Jefferies Financial Group lifted their target price on Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $270.00 price target (up from $245.00) on shares of Vulcan Materials in a research report on Friday, March 22nd. Finally, Royal Bank of Canada boosted their price target on Vulcan Materials from $269.00 to $272.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $277.08.

About Vulcan Materials

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.