Price T Rowe Associates Inc. MD Sells 304,621 Shares of Vulcan Materials (NYSE:VMC)

Price T Rowe Associates Inc. MD lessened its holdings in Vulcan Materials (NYSE:VMC) by 19.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,300,554 shares of the construction company’s stock after selling 304,621 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Vulcan Materials were worth $354,949,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of VMC. Independent Advisor Alliance grew its stake in Vulcan Materials by 1.2% in the 4th quarter. Independent Advisor Alliance now owns 6,411 shares of the construction company’s stock valued at $1,455,000 after purchasing an additional 73 shares during the period. Strs Ohio increased its holdings in Vulcan Materials by 6.3% during the fourth quarter. Strs Ohio now owns 74,103 shares of the construction company’s stock worth $16,822,000 after buying an additional 4,412 shares during the last quarter. Nordea Investment Management AB raised its position in Vulcan Materials by 621.1% in the first quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock worth $64,581,000 after acquiring an additional 203,166 shares during the period. Avantax Advisory Services Inc. boosted its stake in Vulcan Materials by 150.1% in the first quarter. Avantax Advisory Services Inc. now owns 4,006 shares of the construction company’s stock valued at $1,093,000 after acquiring an additional 2,404 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in Vulcan Materials by 4.2% in the fourth quarter. California State Teachers Retirement System now owns 229,757 shares of the construction company’s stock valued at $52,157,000 after acquiring an additional 9,193 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Vulcan Materials

In related news, President Thompson S. Baker II sold 6,610 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $272.64, for a total transaction of $1,802,150.40. Following the transaction, the president now owns 4,784 shares of the company’s stock, valued at approximately $1,304,309.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, President Thompson S. Baker II sold 8,600 shares of Vulcan Materials stock in a transaction on Friday, May 10th. The shares were sold at an average price of $272.95, for a total value of $2,347,370.00. Following the transaction, the president now directly owns 1,300 shares of the company’s stock, valued at $354,835. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Thompson S. Baker II sold 6,610 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $272.64, for a total transaction of $1,802,150.40. Following the sale, the president now directly owns 4,784 shares of the company’s stock, valued at approximately $1,304,309.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,210 shares of company stock valued at $4,653,520. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Royal Bank of Canada upped their price objective on Vulcan Materials from $269.00 to $272.00 and gave the company a “sector perform” rating in a research note on Friday, May 3rd. Jefferies Financial Group lifted their price objective on Vulcan Materials from $298.00 to $319.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Stephens increased their target price on shares of Vulcan Materials from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Loop Capital lowered their price target on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Finally, Truist Financial upped their price target on shares of Vulcan Materials from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.08.

Vulcan Materials Price Performance

Shares of NYSE:VMC traded up $7.94 on Friday, hitting $261.71. The company’s stock had a trading volume of 673,485 shares, compared to its average volume of 686,519. Vulcan Materials has a 1 year low of $190.51 and a 1 year high of $276.58. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.81. The company has a market capitalization of $34.61 billion, a PE ratio of 38.21, a PEG ratio of 2.18 and a beta of 0.82. The company has a 50-day simple moving average of $252.03 and a 200 day simple moving average of $253.69.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Thursday, May 2nd. The construction company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.11). The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $0.95 earnings per share. Sell-side analysts forecast that Vulcan Materials will post 8.32 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, August 15th. Vulcan Materials’s payout ratio is currently 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.