Canada Pension Plan Investment Board Sells 2,408 Shares of Vulcan Materials (NYSE:VMC)

Canada Pension Plan Investment Board reduced its holdings in Vulcan Materials (NYSE:VMC) by 1.2% in the first quarter, HoldingsChannel reports. The firm owned 193,139 shares of the construction company’s stock after selling 2,408 shares during the period. Canada Pension Plan Investment Board’s holdings in Vulcan Materials were worth $52,711,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in VMC. Register Financial Advisors LLC bought a new stake in Vulcan Materials in the first quarter worth approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in Vulcan Materials in the first quarter valued at approximately $33,000. YHB Investment Advisors Inc. acquired a new stake in Vulcan Materials in the first quarter valued at approximately $34,000. Concord Wealth Partners acquired a new stake in Vulcan Materials in the first quarter valued at approximately $34,000. Finally, Manchester Capital Management LLC grew its stake in Vulcan Materials by 1,218.2% in the first quarter. Manchester Capital Management LLC now owns 145 shares of the construction company’s stock valued at $40,000 after acquiring an additional 134 shares during the period. 90.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on Vulcan Materials from $269.00 to $272.00 and gave the company a “sector perform” rating in a research report on Friday, May 3rd. Citigroup cut their target price on Vulcan Materials from $322.00 to $297.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Stephens lifted their target price on Vulcan Materials from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Loop Capital cut their price objective on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Finally, Truist Financial boosted their price objective on Vulcan Materials from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Vulcan Materials presently has a consensus rating of “Moderate Buy” and an average price target of $277.08.

Insider Transactions at Vulcan Materials

In other news, SVP David P. Clement sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $254.50, for a total value of $254,500.00. Following the completion of the transaction, the senior vice president now directly owns 2,660 shares in the company, valued at approximately $676,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Thompson S. Baker II sold 6,610 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,304,309.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David P. Clement sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $254.50, for a total value of $254,500.00. Following the completion of the transaction, the senior vice president now owns 2,660 shares of the company’s stock, valued at $676,970. The disclosure for this sale can be found here. In the last three months, insiders sold 17,210 shares of company stock worth $4,653,520. 0.62% of the stock is currently owned by corporate insiders.

Vulcan Materials Price Performance

Vulcan Materials stock opened at $261.71 on Friday. Vulcan Materials has a 52 week low of $190.51 and a 52 week high of $276.58. The business has a 50-day simple moving average of $252.03 and a 200 day simple moving average of $253.69. The company has a quick ratio of 1.81, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. The stock has a market cap of $34.61 billion, a price-to-earnings ratio of 38.21, a PEG ratio of 2.18 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Thursday, May 2nd. The construction company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.11). Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Vulcan Materials’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, research analysts forecast that Vulcan Materials will post 8.32 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, August 15th. Vulcan Materials’s payout ratio is currently 26.86%.

Vulcan Materials 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.