First Republic Investment Management Inc. lessened its holdings in shares of Vulcan Materials (NYSE:VMC) by 20.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,503 shares of the construction company’s stock after selling 1,723 shares during the period. First Republic Investment Management Inc.’s holdings in Vulcan Materials were worth $778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of VMC. Sun Life Financial INC raised its holdings in shares of Vulcan Materials by 10,666.7% during the second quarter. Sun Life Financial INC now owns 969 shares of the construction company’s stock worth $123,000 after purchasing an additional 960 shares during the last quarter. Schroder Investment Management Group acquired a new stake in Vulcan Materials during the second quarter valued at $187,000. Wetherby Asset Management Inc. acquired a new stake in Vulcan Materials during the second quarter valued at $203,000. Jaffetilchin Investment Partners LLC acquired a new stake in Vulcan Materials during the second quarter valued at $204,000. Finally, FCA Corp TX acquired a new stake in Vulcan Materials during the third quarter valued at $215,000. 89.10% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently commented on the stock. Jefferies Group raised their price target on shares of Vulcan Materials from $122.00 to $128.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. Zacks Investment Research upgraded shares of Vulcan Materials from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Barclays assumed coverage on shares of Vulcan Materials in a research report on Tuesday. They set an “overweight” rating and a $135.00 price target on the stock. Citigroup restated a “buy” rating and set a $140.00 price target (down previously from $145.00) on shares of Vulcan Materials in a research report on Monday, October 9th. Finally, Royal Bank of Canada restated a “buy” rating and set a $154.00 price target on shares of Vulcan Materials in a research report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Vulcan Materials currently has a consensus rating of “Buy” and an average price target of $139.29.
Shares of Vulcan Materials (NYSE:VMC) traded up $0.58 during midday trading on Friday, hitting $120.82. 1,448,947 shares of the stock traded hands, compared to its average volume of 1,133,596. Vulcan Materials has a 1-year low of $108.95 and a 1-year high of $136.82. The firm has a market capitalization of $15,905.89, a price-to-earnings ratio of 40.49, a price-to-earnings-growth ratio of 2.33 and a beta of 0.88. The company has a current ratio of 4.22, a quick ratio of 3.34 and a debt-to-equity ratio of 0.60.
Vulcan Materials (NYSE:VMC) last announced its earnings results on Wednesday, November 1st. The construction company reported $1.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.36). Vulcan Materials had a net margin of 10.20% and a return on equity of 8.71%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business earned $1.01 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. equities analysts expect that Vulcan Materials will post 3.06 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Wednesday, November 22nd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.83%. Vulcan Materials’s payout ratio is presently 34.97%.
Vulcan Materials Profile
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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