Reliant Investment Management LLC Reduces Stock Position in Vulcan Materials (NYSE:VMC)

Reliant Investment Management LLC cut its stake in shares of Vulcan Materials (NYSE:VMC) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,008 shares of the construction company’s stock after selling 345 shares during the period. Vulcan Materials comprises approximately 2.7% of Reliant Investment Management LLC’s holdings, making the stock its 17th largest position. Reliant Investment Management LLC’s holdings in Vulcan Materials were worth $5,734,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of VMC. Vanguard Group Inc. boosted its position in Vulcan Materials by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 15,249,701 shares of the construction company’s stock worth $3,461,835,000 after purchasing an additional 105,230 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Vulcan Materials by 47.4% in the third quarter. JPMorgan Chase & Co. now owns 4,503,484 shares of the construction company’s stock worth $909,794,000 after buying an additional 1,447,700 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Vulcan Materials by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 4,410,854 shares of the construction company’s stock valued at $1,001,308,000 after buying an additional 66,634 shares during the last quarter. Morgan Stanley raised its position in Vulcan Materials by 4.4% in the third quarter. Morgan Stanley now owns 1,330,004 shares of the construction company’s stock worth $268,688,000 after acquiring an additional 55,992 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Vulcan Materials by 7.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,256,372 shares of the construction company’s stock valued at $285,200,000 after acquiring an additional 83,337 shares during the period. 90.39% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, President Thompson S. Baker II sold 6,610 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $272.64, for a total value of $1,802,150.40. Following the completion of the transaction, the president now directly owns 4,784 shares of the company’s stock, valued at approximately $1,304,309.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, President Thompson S. Baker II sold 6,610 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $272.64, for a total transaction of $1,802,150.40. Following the sale, the president now owns 4,784 shares of the company’s stock, valued at $1,304,309.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Thompson S. Baker II sold 8,600 shares of the business’s stock in a transaction dated 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 transaction, 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 sold 17,210 shares of company stock valued at $4,653,520 over the last 90 days. Corporate insiders own 0.62% of the company’s stock.

Vulcan Materials Trading Up 0.4 %

Shares of NYSE:VMC traded up $0.92 during trading on Friday, reaching $248.68. 988,674 shares of the company were exchanged, compared to its average volume of 750,945. 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 firm has a market capitalization of $32.89 billion, a PE ratio of 36.27, a P/E/G ratio of 1.85 and a beta of 0.84. The business’s fifty day simple moving average is $256.82 and its 200-day simple moving average is $249.62. Vulcan Materials has a 12-month low of $190.51 and a 12-month high of $276.58.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.11). Vulcan Materials had a net margin of 11.92% and a return on equity of 12.32%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The business’s revenue was down 6.2% compared to the same quarter last year. On average, research analysts anticipate that Vulcan Materials will post 8.51 EPS for the current year.

Vulcan Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Thursday, May 23rd. Vulcan Materials’s dividend payout ratio (DPR) is 26.86%.

Wall Street Analyst Weigh In

Several research firms have issued reports on VMC. JPMorgan Chase & Co. reissued a “neutral” rating and set a $270.00 price target (up previously from $245.00) on shares of Vulcan Materials in a report on Friday, March 22nd. Jefferies Financial Group raised their price objective on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Wolfe Research cut Vulcan Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Citigroup increased their target price on Vulcan Materials from $263.00 to $322.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Truist Financial lifted their price objective on shares of Vulcan Materials from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.08.

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.