Comerica Bank Trims Stock Position in Vulcan Materials (NYSE:VMC)

Comerica Bank cut its stake in shares of Vulcan Materials (NYSE:VMC) by 3.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,209 shares of the construction company’s stock after selling 1,788 shares during the quarter. Comerica Bank’s holdings in Vulcan Materials were worth $13,157,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Contravisory Investment Management Inc. boosted its stake 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 valued at $704,000 after purchasing an additional 40 shares in the last quarter. Commerce Bank boosted its stake in shares of Vulcan Materials by 1.0% during the fourth quarter. Commerce Bank now owns 4,442 shares of the construction company’s stock valued at $1,008,000 after purchasing an additional 43 shares in the last quarter. Brighton Jones LLC boosted its stake in Vulcan Materials by 2.4% in the fourth quarter. Brighton Jones LLC now owns 1,916 shares of the construction company’s stock valued at $435,000 after acquiring an additional 45 shares in the last quarter. Covestor Ltd boosted its stake in Vulcan Materials by 13.6% in the first quarter. Covestor Ltd now owns 425 shares of the construction company’s stock valued at $116,000 after acquiring an additional 51 shares in the last quarter. Finally, MCF Advisors LLC boosted its stake in Vulcan Materials by 22.4% in the fourth quarter. MCF Advisors LLC now owns 295 shares of the construction company’s stock valued at $67,000 after acquiring an additional 54 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VMC. Citigroup lowered their target price on shares of Vulcan Materials from $322.00 to $297.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Loop Capital lowered their price objective on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. 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. Royal Bank of Canada lifted 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 note on Friday, May 3rd. Finally, Stephens lifted their price objective on shares of Vulcan Materials from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.08.

Vulcan Materials Price Performance

Shares of VMC stock traded down $3.28 on Thursday, reaching $271.23. 656,483 shares of the company were exchanged, compared to its average volume of 771,850. The company has a market cap of $35.87 billion, a price-to-earnings ratio of 40.08, a P/E/G ratio of 2.25 and a beta of 0.82. Vulcan Materials has a 1 year low of $190.51 and a 1 year high of $278.79. The business has a 50-day moving average price of $252.55 and a 200 day moving average price of $254.63. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.81 and a current ratio of 2.74.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.50 billion. During the same period last year, the firm posted $0.95 earnings per share. Vulcan Materials’s revenue was down 6.2% on a year-over-year basis. Equities research analysts forecast that Vulcan Materials will post 8.32 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, August 15th. Vulcan Materials’s payout ratio is 26.86%.

Insider Buying and Selling

In other news, SVP David P. Clement sold 1,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $254.50, for a total value of $254,500.00. Following the completion of the transaction, the senior vice president now owns 2,660 shares in the company, valued at approximately $676,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vulcan Materials news, SVP David P. Clement sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $254.50, for a total transaction of $254,500.00. Following the sale, the senior vice president now directly owns 2,660 shares of the company’s stock, valued at approximately $676,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Thompson S. Baker II sold 6,610 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $272.64, for a total transaction of $1,802,150.40. Following the sale, the president now directly owns 4,784 shares in the company, valued at $1,304,309.76. The disclosure for this sale can be found here. Insiders sold a total of 17,210 shares of company stock worth $4,653,520 in the last 90 days. Company insiders own 0.62% of the company’s stock.

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.