MQS Management LLC Reduces Position in Vulcan Materials (NYSE:VMC)

MQS Management LLC decreased its position in Vulcan Materials (NYSE:VMC) by 18.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,659 shares of the construction company’s stock after selling 372 shares during the period. MQS Management LLC’s holdings in Vulcan Materials were worth $453,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of VMC. American Century Companies Inc. lifted its holdings in shares of Vulcan Materials by 21.0% in the 3rd quarter. American Century Companies Inc. now owns 21,087 shares of the construction company’s stock worth $4,260,000 after acquiring an additional 3,665 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in Vulcan Materials by 6.6% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,035 shares of the construction company’s stock valued at $209,000 after acquiring an additional 64 shares during the period. SG Americas Securities LLC increased its stake in Vulcan Materials by 15.5% during the fourth quarter. SG Americas Securities LLC now owns 5,308 shares of the construction company’s stock worth $1,205,000 after purchasing an additional 713 shares during the period. HB Wealth Management LLC lifted its position in shares of Vulcan Materials by 10.4% during the fourth quarter. HB Wealth Management LLC now owns 1,827 shares of the construction company’s stock worth $415,000 after purchasing an additional 172 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Vulcan Materials by 1.4% in the fourth quarter. Raymond James & Associates now owns 214,896 shares of the construction company’s stock valued at $48,783,000 after purchasing an additional 2,934 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Insider Activity

In other Vulcan Materials news, President Thompson S. Baker II sold 8,600 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $272.95, for a total transaction of $2,347,370.00. Following the transaction, the president now owns 1,300 shares of the company’s stock, valued at approximately $354,835. The sale was disclosed in a filing with the SEC, which is available at 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 stock was 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 $354,835. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David P. Clement sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $249.50, for a total value of $249,500.00. Following the completion of the transaction, the senior vice president now owns 1,660 shares in the company, valued at $414,170. The disclosure for this sale can be found here. Insiders sold a total of 17,210 shares of company stock worth $4,653,520 over the last 90 days. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

VMC has been the subject of several recent research reports. Citigroup decreased their price target on shares of Vulcan Materials from $322.00 to $297.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Truist Financial boosted their target price on Vulcan Materials from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada increased their price target on Vulcan Materials from $269.00 to $272.00 and gave the company a “sector perform” rating in a research report on Friday, May 3rd. Jefferies Financial Group raised their target price on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Stephens boosted their price target on shares of Vulcan Materials from $300.00 to $310.00 and gave the stock an “overweight” rating in a 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 stock. Based on data from MarketBeat.com, Vulcan Materials has a consensus rating of “Moderate Buy” and an average price target of $277.08.

Vulcan Materials Stock Performance

VMC traded up $3.26 on Thursday, hitting $253.77. 613,265 shares of the company traded hands, compared to its average volume of 765,974. Vulcan Materials has a 12-month low of $190.51 and a 12-month high of $276.58. The company has a 50 day moving average of $251.98 and a 200-day moving average of $253.22. The company has a quick ratio of 1.81, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $33.56 billion, a PE ratio of 37.05, a PEG ratio of 2.17 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last issued 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 return on equity of 12.32% and a net margin of 11.92%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business earned $0.95 earnings per share. Vulcan Materials’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 8.32 earnings per share for the current year.

Vulcan Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.73%. The ex-dividend date is Thursday, August 15th. Vulcan Materials’s payout ratio is currently 26.86%.

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.