Vulcan Materials (NYSE:VMC) Shares Sold by Palestra Capital Management LLC

Palestra Capital Management LLC lessened its stake in Vulcan Materials (NYSE:VMCFree Report) by 22.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 432,047 shares of the construction company’s stock after selling 128,268 shares during the period. Vulcan Materials comprises approximately 4.9% of Palestra Capital Management LLC’s portfolio, making the stock its 9th largest position. Palestra Capital Management LLC owned 0.33% of Vulcan Materials worth $98,079,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in Vulcan Materials by 47.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,484 shares of the construction company’s stock valued at $909,794,000 after purchasing an additional 1,447,700 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Vulcan Materials by 1.5% in the fourth quarter. Principal Financial Group Inc. now owns 4,410,854 shares of the construction company’s stock worth $1,001,308,000 after acquiring an additional 66,634 shares in the last quarter. FMR LLC grew its stake in shares of Vulcan Materials by 6.8% in the third quarter. FMR LLC now owns 3,042,842 shares of the construction company’s stock worth $614,715,000 after acquiring an additional 194,337 shares in the last quarter. Northern Trust Corp grew its stake in shares of Vulcan Materials by 2.2% in the third quarter. Northern Trust Corp now owns 2,481,652 shares of the construction company’s stock worth $501,343,000 after acquiring an additional 54,450 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Vulcan Materials by 3.7% in the third quarter. Invesco Ltd. now owns 2,314,301 shares of the construction company’s stock worth $467,535,000 after acquiring an additional 83,185 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Insider Buying and Selling at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 1,000 shares of Vulcan Materials stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $254.50, for a total value of $254,500.00. Following the transaction, the senior vice president now directly owns 2,660 shares in the company, valued at $676,970. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, President Thompson S. Baker II sold 8,600 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $272.95, for a total transaction of $2,347,370.00. Following the transaction, the president now directly owns 1,300 shares in the company, valued at $354,835. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP David P. Clement sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $254.50, for a total transaction of $254,500.00. Following the transaction, the senior vice president now owns 2,660 shares in the company, valued at $676,970. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,210 shares of company stock worth $4,653,520. 0.62% of the stock is owned by company insiders.

Vulcan Materials Stock Performance

VMC traded up $4.83 on Thursday, reaching $253.95. The company had a trading volume of 692,730 shares, compared to its average volume of 766,178. Vulcan Materials has a 1 year low of $190.51 and a 1 year high of $276.58. The stock has a market capitalization of $33.59 billion, a PE ratio of 37.07, a P/E/G ratio of 1.85 and a beta of 0.84. 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 50-day moving average price of $259.47 and a 200-day moving average price of $246.86.

Vulcan Materials (NYSE:VMCGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.11). The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.50 billion. Vulcan Materials had a net margin of 11.92% and a return on equity of 12.32%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 earnings per share. As a group, research analysts forecast that Vulcan Materials will post 8.55 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were paid a $0.46 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $1.84 dividend on an annualized basis and a yield of 0.72%. Vulcan Materials’s dividend payout ratio is presently 26.86%.

Analyst Upgrades and Downgrades

Several research firms have commented on VMC. JPMorgan Chase & Co. restated a “neutral” rating and issued a $270.00 price target (up previously from $245.00) on shares of Vulcan Materials in a research note on Friday, March 22nd. 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 research note on Friday, May 3rd. Royal Bank of Canada boosted their price target 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. 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 report on Thursday, April 18th. Finally, Truist Financial lifted their price objective on shares of Vulcan Materials from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.08.

View Our Latest Report on Vulcan Materials

Vulcan Materials Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Vulcan Materials (NYSE:VMC)

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