Bessemer Group Inc. Has $3.10 Million Stock Position in Vulcan Materials (NYSE:VMC)

Bessemer Group Inc. lowered its stake in shares of Vulcan Materials (NYSE:VMC) by 98.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,372 shares of the construction company’s stock after selling 842,870 shares during the period. Bessemer Group Inc.’s holdings in Vulcan Materials were worth $3,104,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Contravisory Investment Management Inc. increased its position in shares of Vulcan Materials by 1.6% during the first quarter. Contravisory Investment Management Inc. now owns 2,579 shares of the construction company’s stock worth $704,000 after acquiring an additional 40 shares in the last quarter. Commerce Bank grew its position in Vulcan Materials by 1.0% in the 4th quarter. Commerce Bank now owns 4,442 shares of the construction company’s stock worth $1,008,000 after purchasing an additional 43 shares in the last quarter. Brighton Jones LLC grew its position in Vulcan Materials by 2.4% in the 4th quarter. Brighton Jones LLC now owns 1,916 shares of the construction company’s stock worth $435,000 after purchasing an additional 45 shares in the last quarter. Covestor Ltd grew its position in Vulcan Materials by 13.6% in the 1st quarter. Covestor Ltd now owns 425 shares of the construction company’s stock worth $116,000 after purchasing an additional 51 shares in the last quarter. Finally, Stonegate Investment Group LLC grew its position in Vulcan Materials by 0.3% in the 4th quarter. Stonegate Investment Group LLC now owns 20,255 shares of the construction company’s stock worth $4,598,000 after purchasing an additional 52 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VMC. Royal Bank of Canada upped their price objective on shares of Vulcan Materials from $269.00 to $272.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. Jefferies Financial Group boosted their target price on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Truist Financial boosted their target price on shares of Vulcan Materials from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Citigroup dropped their target price on shares of Vulcan Materials from $322.00 to $297.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, Stephens boosted their target price on shares of Vulcan Materials from $300.00 to $310.00 and gave the company an “overweight” rating in a research note 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $277.08.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 1,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $249.50, for a total value of $249,500.00. Following the sale, the senior vice president now directly owns 1,660 shares in the company, valued at approximately $414,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Thompson S. Baker II sold 8,600 shares of Vulcan Materials stock in a transaction on Friday, May 10th. The shares were sold at an average price of $272.95, for a total value of $2,347,370.00. Following the transaction, the president now owns 1,300 shares in the company, valued at approximately $354,835. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP David P. Clement sold 1,000 shares of Vulcan Materials stock in a transaction on Monday, June 10th. The stock was sold at an average price of $249.50, for a total transaction of $249,500.00. Following the completion of the transaction, the senior vice president now owns 1,660 shares in the company, valued at approximately $414,170. The disclosure for this sale can be found here. Insiders have sold 17,210 shares of company stock worth $4,653,520 in the last three months. 0.62% of the stock is currently owned by corporate insiders.

Vulcan Materials Stock Performance

Shares of VMC stock traded up $5.42 during trading on Thursday, reaching $255.93. 212,886 shares of the company’s stock traded hands, compared to its average volume of 762,459. The company has a market capitalization of $33.85 billion, a P/E ratio of 36.57, a PEG ratio of 2.17 and a beta of 0.82. The company has a current ratio of 2.74, a quick ratio of 1.81 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average is $252.10 and its 200 day moving average is $253.21. Vulcan Materials has a 1 year low of $190.51 and a 1 year high of $276.58.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Thursday, May 2nd. The construction company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the company earned $0.95 earnings per share. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. Equities research analysts expect that Vulcan Materials will post 8.32 EPS for the current year.

Vulcan Materials Announces Dividend

The company 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. This represents a $1.84 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Thursday, August 15th. Vulcan Materials’s dividend payout ratio is presently 26.86%.

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.