BI Asset Management Fondsmaeglerselskab A S Sells 723 Shares of Vulcan Materials (NYSE:VMC)

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of Vulcan Materials (NYSE:VMC) by 18.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,119 shares of the construction company’s stock after selling 723 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Vulcan Materials were worth $851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of VMC. Register Financial Advisors LLC purchased a new position in shares of Vulcan Materials in the first quarter valued at $27,000. Exchange Traded Concepts LLC purchased a new position in Vulcan Materials during the fourth quarter worth $28,000. Opal Wealth Advisors LLC purchased a new position in Vulcan Materials during the first quarter worth $33,000. YHB Investment Advisors Inc. purchased a new position in Vulcan Materials during the first quarter worth $34,000. Finally, Concord Wealth Partners purchased a new position in Vulcan Materials during the first quarter worth $34,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Stock Up 0.5 %

Vulcan Materials stock traded up $1.15 during trading hours on Wednesday, reaching $243.40. The stock had a trading volume of 96,037 shares, compared to its average volume of 763,728. The company has a market cap of $32.19 billion, a price-to-earnings ratio of 35.37, a PEG ratio of 1.82 and a beta of 0.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.81. The business’s 50 day moving average price is $254.74 and its 200-day moving average price is $250.98. Vulcan Materials has a 52 week low of $190.51 and a 52 week high of $276.58.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Thursday, May 2nd. The construction company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.11). Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. Sell-side analysts anticipate that Vulcan Materials will post 8.48 EPS for the current year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.76%. Vulcan Materials’s payout ratio is 26.86%.

Insider Transactions at Vulcan Materials

In related news, SVP David P. Clement sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $254.50, for a total value of $254,500.00. Following the sale, the senior vice president now owns 2,660 shares in the company, valued at $676,970. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP David P. Clement sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $254.50, for a total value of $254,500.00. Following the sale, the senior vice president now owns 2,660 shares in the company, valued at $676,970. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Thompson S. Baker II sold 8,600 shares of the company’s 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 completion of the sale, the president now owns 1,300 shares in the company, valued at approximately $354,835. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,210 shares of company stock worth $4,653,520. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on VMC shares. Jefferies Financial Group lifted their price objective on shares of Vulcan Materials from $298.00 to $319.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Truist Financial lifted their target price on Vulcan Materials from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Citigroup lifted their target price on Vulcan Materials from $263.00 to $322.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Loop Capital decreased their target price on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Royal Bank of Canada lifted their target price 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 investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and a consensus target price of $279.00.

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.