South Dakota Investment Council Sells 5,000 Shares of Vulcan Materials (NYSE:VMC)
South Dakota Investment Council cut its holdings in Vulcan Materials (NYSE:VMC) by 20.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,000 shares of the construction company’s stock after selling 5,000 shares during the period. South Dakota Investment Council’s holdings in Vulcan Materials were worth $2,609,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in VMC. NuWave Investment Management LLC raised its holdings in Vulcan Materials by 809.5% during the second quarter. NuWave Investment Management LLC now owns 191 shares of the construction company’s stock worth $26,000 after purchasing an additional 170 shares during the last quarter. Coastal Investment Advisors Inc. raised its stake in Vulcan Materials by 1,550.0% during the second quarter. Coastal Investment Advisors Inc. now owns 198 shares of the construction company’s stock worth $27,000 after purchasing an additional 186 shares during the period. FinTrust Capital Advisors LLC boosted its holdings in shares of Vulcan Materials by 136.9% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 244 shares of the construction company’s stock valued at $33,000 after purchasing an additional 141 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Vulcan Materials by 114.5% in the 1st quarter. Parallel Advisors LLC now owns 474 shares of the construction company’s stock valued at $56,000 after purchasing an additional 253 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in shares of Vulcan Materials during the 2nd quarter worth $71,000. Institutional investors and hedge funds own 95.21% of the company’s stock.
Shares of VMC stock traded up $2.67 on Wednesday, hitting $144.81. The stock had a trading volume of 464,595 shares, compared to its average volume of 754,328. The firm has a market capitalization of $18.79 billion, a price-to-earnings ratio of 35.76, a P/E/G ratio of 1.67 and a beta of 0.93. The stock’s 50 day moving average is $140.11 and its 200-day moving average is $129.17. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.23 and a current ratio of 1.89. Vulcan Materials has a 52-week low of $82.52 and a 52-week high of $145.53.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.24 annualized dividend and a dividend yield of 0.86%. Vulcan Materials’s dividend payout ratio is presently 30.62%.
In other news, insider Stanley G. Bass sold 6,207 shares of Vulcan Materials stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $135.80, for a total transaction of $842,910.60. Following the sale, the insider now directly owns 53,813 shares of the company’s stock, valued at $7,307,805.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.79% of the stock is owned by company insiders.
VMC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Vulcan Materials from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Royal Bank of Canada set a $142.00 price objective on shares of Vulcan Materials and gave the stock a “buy” rating in a research report on Friday, July 26th. ValuEngine downgraded shares of Vulcan Materials from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Longbow Research raised their target price on shares of Vulcan Materials from $145.00 to $153.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Argus set a $152.00 target price on shares of Vulcan Materials and gave the company a “buy” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $137.00.
Vulcan Materials Profile
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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