Kentucky Retirement Systems Insurance Trust Fund Sells 349 Shares of Vulcan Materials (NYSE:VMC)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in Vulcan Materials (NYSE:VMC) by 7.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,385 shares of the construction company’s stock after selling 349 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Vulcan Materials were worth $1,197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of VMC. SG Americas Securities LLC increased its holdings in shares of Vulcan Materials by 15.5% during the fourth quarter. SG Americas Securities LLC now owns 5,308 shares of the construction company’s stock valued at $1,205,000 after acquiring an additional 713 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Vulcan Materials by 49.5% during the fourth quarter. Pacer Advisors Inc. now owns 12,616 shares of the construction company’s stock valued at $2,864,000 after acquiring an additional 4,176 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Vulcan Materials by 13.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,393 shares of the construction company’s stock valued at $310,000 after acquiring an additional 161 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Vulcan Materials by 19.3% during the fourth quarter. Fifth Third Bancorp now owns 3,879 shares of the construction company’s stock valued at $881,000 after buying an additional 627 shares during the last quarter. Finally, Osborne Partners Capital Management LLC boosted its position in shares of Vulcan Materials by 1.1% during the fourth quarter. Osborne Partners Capital Management LLC now owns 43,833 shares of the construction company’s stock valued at $9,950,000 after buying an additional 475 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Stock Performance

Shares of VMC stock traded up $2.48 during trading hours on Monday, reaching $264.19. 138,119 shares of the company traded hands, compared to its average volume of 761,756. Vulcan Materials has a 12-month low of $190.51 and a 12-month high of $276.58. 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 company has a market cap of $34.94 billion, a P/E ratio of 38.61, a P/E/G ratio of 2.18 and a beta of 0.82. The firm has a 50-day moving average price of $252.03 and a 200 day moving average price of $253.88.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.11). Vulcan Materials had a net margin of 11.92% and a return on equity of 12.32%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the firm earned $0.95 earnings per share. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, sell-side analysts predict that Vulcan Materials will post 8.32 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, August 15th. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

Insider Activity at Vulcan Materials

In related news, President Thompson S. Baker II sold 8,600 shares of Vulcan Materials 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 sale, the president now owns 1,300 shares of the company’s stock, valued at approximately $354,835. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vulcan Materials news, SVP David P. Clement sold 1,000 shares of Vulcan Materials stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $254.50, for a total value of $254,500.00. Following the sale, the senior vice president now owns 2,660 shares of the company’s stock, valued at approximately $676,970. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Thompson S. Baker II sold 8,600 shares of Vulcan Materials stock in a transaction that occurred on Friday, May 10th. The stock was 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 directly owns 1,300 shares in the company, valued at approximately $354,835. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,210 shares of company stock valued at $4,653,520. 0.62% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

VMC has been the topic of several recent analyst reports. Truist Financial increased their price objective on Vulcan Materials from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada increased their price objective 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 dropped their price objective 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 raised their target price on Vulcan Materials from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, Jefferies Financial Group raised their target price on Vulcan Materials from $298.00 to $319.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.08.

About Vulcan Materials

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.