Rhumbline Advisers Sells 4,027 Shares of Vulcan Materials (NYSE:VMC)

Rhumbline Advisers lessened its stake in Vulcan Materials (NYSE:VMC) by 1.6% in the second quarter, HoldingsChannel reports. The firm owned 255,040 shares of the construction company’s stock after selling 4,027 shares during the period. Rhumbline Advisers’ holdings in Vulcan Materials were worth $63,423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of VMC. Register Financial Advisors LLC bought a new position in shares of Vulcan Materials in the first quarter worth approximately $27,000. Kings Path Partners LLC purchased a new position in shares of Vulcan Materials in the second quarter valued at $27,000. UMB Bank n.a. increased its holdings in shares of Vulcan Materials by 61.8% in the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock worth $31,000 after buying an additional 47 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Vulcan Materials in the 1st quarter worth approximately $33,000. Finally, YHB Investment Advisors Inc. purchased a new position in Vulcan Materials during the first quarter worth $34,000. Institutional investors own 90.39% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on VMC. Royal Bank of Canada cut their price objective on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Citigroup reduced their price objective on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Truist Financial decreased their price target on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Stephens decreased their price objective on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, Loop Capital cut their price objective 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. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $274.73.

Vulcan Materials Stock Down 1.8 %

Shares of NYSE VMC opened at $234.83 on Thursday. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average price of $250.03 and a 200 day moving average price of $257.34. Vulcan Materials has a 52 week low of $190.51 and a 52 week high of $278.79. The stock has a market capitalization of $31.01 billion, a price-to-earnings ratio of 34.28, a price-to-earnings-growth ratio of 2.25 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $2.35 EPS for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.29 EPS. Equities research analysts anticipate that Vulcan Materials will post 7.82 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, August 15th. Vulcan Materials’s payout ratio is currently 26.86%.

Insiders Place Their Bets

In other news, SVP David P. Clement sold 1,000 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 1,660 shares in the company, valued at approximately $414,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is currently owned by insiders.

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.