Clearbridge Investments LLC Sells 6,184 Shares of Vulcan Materials (NYSE:VMC)

Clearbridge Investments LLC cut its position in Vulcan Materials (NYSE:VMC) by 0.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,593,090 shares of the construction company’s stock after selling 6,184 shares during the quarter. Clearbridge Investments LLC’s holdings in Vulcan Materials were worth $644,850,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. SouthState Corp grew its position in Vulcan Materials by 669.2% during the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after buying an additional 87 shares in the last quarter. 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 stake in Vulcan Materials in the second quarter valued at approximately $27,000. UMB Bank n.a. lifted its position in Vulcan Materials by 61.8% during the second quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock valued at $31,000 after purchasing an additional 47 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in Vulcan Materials in the 1st quarter worth approximately $33,000. Institutional investors own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on VMC shares. Citigroup dropped their price objective on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Truist Financial cut their price objective on 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 on the stock in a report on Thursday, August 8th. Loop Capital dropped their target price 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. Finally, Royal Bank of Canada decreased their price target on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $274.73.

Vulcan Materials Price Performance

VMC opened at $250.21 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.66 and a current ratio of 2.48. The stock has a market capitalization of $33.04 billion, a PE ratio of 36.53, a price-to-earnings-growth ratio of 2.32 and a beta of 0.82. The stock’s 50 day moving average price is $247.53 and its 200-day moving average price is $254.71. Vulcan Materials has a 52-week low of $190.51 and a 52-week high of $278.79.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.12). The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.03 billion. Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.29 earnings per share. On average, equities research analysts predict that Vulcan Materials will post 7.73 EPS for the current year.

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.84 annualized dividend and a yield of 0.74%. Vulcan Materials’s payout ratio is 26.86%.

Vulcan Materials Company 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.