Cohen Klingenstein LLC Decreases Position in Vulcan Materials (NYSE:VMC)

Cohen Klingenstein LLC lowered its position in Vulcan Materials (NYSE:VMC) by 30.4% during the fourth quarter, HoldingsChannel reports. The firm owned 21,768 shares of the construction company’s stock after selling 9,500 shares during the period. Cohen Klingenstein LLC’s holdings in Vulcan Materials were worth $5,599,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VMC. American Century Companies Inc. grew its stake in Vulcan Materials by 3.6% during the 2nd quarter. American Century Companies Inc. now owns 27,803 shares of the construction company’s stock valued at $6,914,000 after acquiring an additional 970 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new stake in shares of Vulcan Materials in the second quarter valued at approximately $244,000. Mercer Global Advisors Inc. ADV increased its holdings in shares of Vulcan Materials by 3.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 10,491 shares of the construction company’s stock valued at $2,609,000 after purchasing an additional 309 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Vulcan Materials by 10.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,392 shares of the construction company’s stock worth $2,584,000 after buying an additional 976 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Vulcan Materials by 7.6% during the second quarter. Hsbc Holdings PLC now owns 246,823 shares of the construction company’s stock worth $61,463,000 after buying an additional 17,507 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Price Performance

VMC opened at $270.28 on Friday. The stock’s 50-day moving average price is $272.63 and its 200 day moving average price is $258.76. Vulcan Materials has a 12-month low of $219.73 and a 12-month high of $298.31. The firm has a market cap of $35.69 billion, a price-to-earnings ratio of 42.63, a PEG ratio of 1.97 and a beta of 0.83. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.12). The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.29 EPS. As a group, sell-side analysts expect that Vulcan Materials will post 7.16 earnings per share for the current year.

Analysts Set New Price Targets

VMC has been the topic of several analyst reports. Barclays lifted their price target on Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. UBS Group assumed coverage on shares of Vulcan Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $349.00 target price on the stock. Stephens reissued an “overweight” rating and issued a $325.00 price target on shares of Vulcan Materials in a research note on Thursday, January 2nd. JPMorgan Chase & Co. lifted their price target on shares of Vulcan Materials from $245.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Finally, StockNews.com upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $301.18.

Vulcan Materials 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.