Vulcan Materials (NYSE:VMC) Shares Sold by Reliant Investment Management LLC

Reliant Investment Management LLC reduced its position in Vulcan Materials (NYSE:VMC) by 96.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 840 shares of the construction company’s stock after selling 20,068 shares during the period. Reliant Investment Management LLC’s holdings in Vulcan Materials were worth $210,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of VMC. Artemis Investment Management LLP boosted its holdings in Vulcan Materials by 5.5% in the third quarter. Artemis Investment Management LLP now owns 239,539 shares of the construction company’s stock valued at $59,988,000 after purchasing an additional 12,543 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its stake in shares of Vulcan Materials by 6.1% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 4,832 shares of the construction company’s stock valued at $1,210,000 after buying an additional 279 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Vulcan Materials by 54.1% during the third quarter. GAMMA Investing LLC now owns 1,091 shares of the construction company’s stock worth $273,000 after buying an additional 383 shares in the last quarter. Czech National Bank increased its stake in shares of Vulcan Materials by 6.7% in the third quarter. Czech National Bank now owns 26,902 shares of the construction company’s stock worth $6,737,000 after buying an additional 1,700 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Vulcan Materials by 0.4% in the third quarter. Handelsbanken Fonder AB now owns 68,281 shares of the construction company’s stock valued at $17,100,000 after acquiring an additional 261 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VMC has been the subject of several research analyst reports. Loop Capital dropped their target price on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Truist Financial lowered their price objective on Vulcan Materials from $320.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Citigroup reduced their target price on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Stephens lowered their price target on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, StockNews.com cut Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $274.73.

Vulcan Materials Stock Up 0.0 %

Vulcan Materials stock opened at $238.09 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.66 and a current ratio of 2.48. Vulcan Materials has a one year low of $190.51 and a one year high of $278.79. The company has a 50-day simple moving average of $245.89 and a 200-day simple moving average of $253.69. The firm has a market capitalization of $31.44 billion, a P/E ratio of 34.76, a P/E/G ratio of 2.24 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the firm earned $2.29 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities analysts expect that Vulcan Materials will post 7.73 earnings per share for the current year.

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.77%. The ex-dividend date was 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.