Pictet Asset Management Ltd. Lowers Holdings in Vulcan Materials (NYSE:VMC)

Pictet Asset Management Ltd. decreased its position in Vulcan Materials (NYSE:VMC) by 45.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,752 shares of the construction company’s stock after selling 49,247 shares during the period. Pictet Asset Management Ltd.’s holdings in Vulcan Materials were worth $8,067,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VMC. Patten & Patten Inc. TN raised its stake in Vulcan Materials by 0.9% in the second quarter. Patten & Patten Inc. TN now owns 8,579 shares of the construction company’s stock worth $1,178,000 after buying an additional 75 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Vulcan Materials by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 13,757 shares of the construction company’s stock worth $1,889,000 after buying an additional 82 shares in the last quarter. Veritable L.P. raised its stake in Vulcan Materials by 3.8% in the second quarter. Veritable L.P. now owns 2,261 shares of the construction company’s stock worth $310,000 after buying an additional 82 shares in the last quarter. World Asset Management Inc raised its stake in Vulcan Materials by 1.0% in the second quarter. World Asset Management Inc now owns 9,209 shares of the construction company’s stock worth $1,264,000 after buying an additional 90 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in Vulcan Materials by 1.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,380 shares of the construction company’s stock worth $740,000 after buying an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Shares of VMC stock traded up $2.67 during trading hours on Friday, reaching $147.58. 968,837 shares of the company’s stock were exchanged, compared to its average volume of 856,157. The stock’s 50 day moving average is $140.52 and its 200-day moving average is $129.50. The company has a market cap of $19.17 billion, a price-to-earnings ratio of 33.47, a P/E/G ratio of 1.71 and a beta of 0.93. The company has a current ratio of 1.89, a quick ratio of 1.23 and a debt-to-equity ratio of 0.59. Vulcan Materials has a fifty-two week low of $82.52 and a fifty-two week high of $148.15.



Vulcan Materials (NYSE:VMC) last released its earnings results on Thursday, July 25th. The construction company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.03. Vulcan Materials had a return on equity of 11.07% and a net margin of 12.12%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the firm earned $1.23 EPS. The firm’s revenue was up 10.6% on a year-over-year basis. Equities analysts anticipate that Vulcan Materials will post 4.84 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Wednesday, August 21st were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Tuesday, August 20th. Vulcan Materials’s payout ratio is 30.62%.

In related news, insider Stanley G. Bass sold 2,406 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $141.94, for a total value of $341,507.64. Following the transaction, the insider now directly owns 35,263 shares of the company’s stock, valued at approximately $5,005,230.22. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stanley G. Bass sold 6,207 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $135.80, for a total value of $842,910.60. Following the completion of the transaction, the insider now directly owns 53,813 shares in the company, valued at $7,307,805.40. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

A number of equities analysts recently commented on VMC shares. ValuEngine downgraded shares of Vulcan Materials from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson boosted their price objective on shares of Vulcan Materials to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, June 6th. They noted that the move was a valuation call. Argus set a $152.00 price objective on shares of Vulcan Materials and gave the stock a “buy” rating in a research note on Friday, July 26th. Longbow Research boosted their price objective on shares of Vulcan Materials from $145.00 to $153.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus boosted their price objective on shares of Vulcan Materials from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $138.25.

About Vulcan Materials

Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the 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.

Further Reading: Diluted Earnings Per Share

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

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