Westwood Management Corp IL Trims Holdings in Vulcan Materials Company (VMC)
Westwood Management Corp IL lowered its position in Vulcan Materials Company (NYSE:VMC) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,000 shares of the construction company’s stock after selling 1,000 shares during the quarter. Vulcan Materials makes up approximately 1.2% of Westwood Management Corp IL’s portfolio, making the stock its 20th biggest position. Westwood Management Corp IL owned approximately 0.05% of Vulcan Materials worth $8,013,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its stake in Vulcan Materials by 2.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 418,466 shares of the construction company’s stock valued at $53,012,000 after buying an additional 11,647 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Vulcan Materials by 7.5% in the second quarter. Principal Financial Group Inc. now owns 554,208 shares of the construction company’s stock valued at $70,207,000 after buying an additional 38,479 shares during the last quarter. New England Research & Management Inc. purchased a new stake in Vulcan Materials in the third quarter valued at approximately $287,000. Geneva Advisors LLC purchased a new stake in Vulcan Materials in the second quarter valued at approximately $647,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in Vulcan Materials by 1.2% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 264,909 shares of the construction company’s stock valued at $33,559,000 after buying an additional 3,265 shares during the last quarter. Institutional investors own 86.79% of the company’s stock.
VMC has been the subject of a number of research reports. BidaskClub cut Vulcan Materials from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Jefferies Group LLC reiterated a “hold” rating and issued a $122.00 price objective on shares of Vulcan Materials in a research note on Friday, October 13th. Citigroup Inc. reiterated a “buy” rating and issued a $140.00 price objective (down previously from $145.00) on shares of Vulcan Materials in a research note on Monday, October 9th. Stephens upgraded Vulcan Materials from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $140.00 to $145.00 in a research note on Thursday, August 3rd. Finally, Bank of America Corporation cut their price target on Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating for the company in a research note on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Vulcan Materials presently has a consensus rating of “Hold” and a consensus target price of $139.00.
In related news, insider Michael R. Mills sold 981 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $117.55, for a total transaction of $115,316.55. Following the completion of the transaction, the insider now owns 23,871 shares in the company, valued at approximately $2,806,036.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David B. Pasley sold 1,250 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $121.51, for a total value of $151,887.50. Following the transaction, the insider now owns 2,857 shares of the company’s stock, valued at approximately $347,154.07. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.
Vulcan Materials Company (VMC) traded up 0.42% during midday trading on Tuesday, hitting $122.48. The stock had a trading volume of 261,327 shares. The firm has a market cap of $16.20 billion, a PE ratio of 39.43 and a beta of 0.87. Vulcan Materials Company has a one year low of $108.95 and a one year high of $138.18. The stock has a 50-day moving average price of $118.56 and a 200 day moving average price of $122.53.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.32). Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts predict that Vulcan Materials Company will post $3.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.82%. Vulcan Materials’s dividend payout ratio is currently 32.36%.
About Vulcan Materials
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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