Park Avenue Securities LLC Sells 104 Shares of Vulcan Materials (NYSE:VMC)

Park Avenue Securities LLC reduced its position in shares of Vulcan Materials (NYSE:VMC) by 3.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,559 shares of the construction company’s stock after selling 104 shares during the quarter. Park Avenue Securities LLC’s holdings in Vulcan Materials were worth $698,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VMC. Exchange Traded Concepts LLC purchased a new stake in Vulcan Materials during the 4th quarter valued at $28,000. Private Wealth Management Group LLC bought a new stake in shares of Vulcan Materials in the 4th quarter worth about $45,000. Trust Co. of Vermont boosted its stake in shares of Vulcan Materials by 144.0% during the 4th quarter. Trust Co. of Vermont now owns 244 shares of the construction company’s stock worth $55,000 after purchasing an additional 144 shares during the period. Avalon Trust Co bought a new position in Vulcan Materials during the 4th quarter valued at about $58,000. Finally, Atlantic Edge Private Wealth Management LLC bought a new position in Vulcan Materials during the 4th quarter valued at about $59,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Stock Up 0.8 %

Vulcan Materials stock opened at $247.73 on Friday. 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 stock has a market capitalization of $32.76 billion, a PE ratio of 36.17, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. The business has a 50 day simple moving average of $257.04 and a 200-day simple moving average of $249.43. Vulcan Materials has a 12 month low of $190.51 and a 12 month high of $276.58.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data 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 analysts’ expectations of $1.50 billion. Vulcan Materials had a net margin of 11.92% and a return on equity of 12.32%. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 earnings per share. On average, analysts anticipate that Vulcan Materials will post 8.55 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were issued a dividend of $0.46 per share. The ex-dividend date was Thursday, May 23rd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.74%. Vulcan Materials’s payout ratio is currently 26.86%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Vulcan Materials from $269.00 to $272.00 and gave the company a “sector perform” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $270.00 target price (up from $245.00) on shares of Vulcan Materials in a report on Friday, March 22nd. Stephens raised their price target on Vulcan Materials from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Citigroup upped their price objective on shares of Vulcan Materials from $263.00 to $322.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, Truist Financial increased their target price on shares of Vulcan Materials from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $277.08.

Insider Activity

In related news, President Thompson S. Baker II sold 8,600 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $272.95, for a total transaction of $2,347,370.00. Following the completion of the sale, the president now directly owns 1,300 shares in the company, valued at $354,835. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP David P. Clement sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $249.50, for a total transaction of $249,500.00. Following the transaction, the senior vice president now directly owns 1,660 shares in the company, valued at approximately $414,170. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Thompson S. Baker II sold 8,600 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the president now owns 1,300 shares of the company’s stock, valued at $354,835. The disclosure for this sale can be found here. Insiders have sold a total of 17,210 shares of company stock worth $4,653,520 over the last quarter. 0.62% of the stock is currently owned by corporate insiders.

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.