Daiwa Securities Group Inc. lowered its stake in shares of Vulcan Materials (NYSE:VMC) by 24.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,738 shares of the construction company’s stock after selling 12,346 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Vulcan Materials were worth $5,707,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in VMC. First Trust Advisors LP boosted its position in Vulcan Materials by 64.2% during the first quarter. First Trust Advisors LP now owns 34,452 shares of the construction company’s stock worth $4,079,000 after purchasing an additional 13,476 shares during the period. Dorsey Wright & Associates bought a new stake in Vulcan Materials during the second quarter worth approximately $2,052,000. First American Trust FSB bought a new stake in Vulcan Materials during the second quarter worth approximately $4,607,000. Crossmark Global Holdings Inc. boosted its position in Vulcan Materials by 1.2% during the second quarter. Crossmark Global Holdings Inc. now owns 8,714 shares of the construction company’s stock worth $1,197,000 after purchasing an additional 107 shares during the period. Finally, Retirement Systems of Alabama boosted its position in Vulcan Materials by 0.3% during the second quarter. Retirement Systems of Alabama now owns 61,601 shares of the construction company’s stock worth $8,458,000 after purchasing an additional 214 shares during the period. 95.38% of the stock is owned by hedge funds and other institutional investors.
VMC opened at $136.44 on Friday. Vulcan Materials has a 1-year low of $90.04 and a 1-year high of $152.49. The company has a current ratio of 1.89, a quick ratio of 1.23 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $18.66 billion, a price-to-earnings ratio of 33.69, a P/E/G ratio of 1.62 and a beta of 0.91. The business has a 50 day moving average of $146.52 and a 200-day moving average of $137.95.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, November 19th will be given a $0.31 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.24 annualized dividend and a dividend yield of 0.91%. Vulcan Materials’s dividend payout ratio is 30.62%.
VMC has been the subject of a number of recent analyst reports. Nomura upped their target price on Vulcan Materials from $165.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. SunTrust Banks upped their target price on Vulcan Materials from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Argus set a $152.00 target price on Vulcan Materials and gave the stock a “buy” rating in a research report on Friday, July 26th. Longbow Research upped their target price on Vulcan Materials from $145.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Exane BNP Paribas initiated coverage on Vulcan Materials in a research report on Wednesday, October 9th. They set an “underperform” rating for the company. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. Vulcan Materials currently has an average rating of “Buy” and a consensus target price of $149.81.
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 completion of the transaction, the insider now directly owns 35,263 shares in the company, valued at $5,005,230.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stanley G. Bass sold 2,184 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $149.93, for a total value of $327,447.12. Following the completion of the transaction, the insider now owns 35,263 shares of the company’s stock, valued at $5,286,981.59. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate insiders.
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.
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