Stonegate Investment Group LLC Sells 326 Shares of Vulcan Materials (NYSE:VMC)

Stonegate Investment Group LLC trimmed its position in shares of Vulcan Materials (NYSE:VMC) by 1.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 19,929 shares of the construction company’s stock after selling 326 shares during the quarter. Stonegate Investment Group LLC’s holdings in Vulcan Materials were worth $5,439,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. AE Wealth Management LLC boosted its holdings in Vulcan Materials by 5.3% during the 3rd quarter. AE Wealth Management LLC now owns 2,924 shares of the construction company’s stock valued at $591,000 after acquiring an additional 147 shares during the period. Czech National Bank boosted its position in Vulcan Materials by 47.4% during the 3rd quarter. Czech National Bank now owns 23,222 shares of the construction company’s stock valued at $4,691,000 after buying an additional 7,471 shares during the period. Golden State Equity Partners grew its holdings in Vulcan Materials by 13.6% in the 3rd quarter. Golden State Equity Partners now owns 1,072 shares of the construction company’s stock worth $217,000 after acquiring an additional 128 shares during the last quarter. Bfsg LLC increased its position in shares of Vulcan Materials by 0.5% in the third quarter. Bfsg LLC now owns 14,902 shares of the construction company’s stock valued at $3,011,000 after acquiring an additional 72 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in shares of Vulcan Materials by 1.4% during the third quarter. Commonwealth Equity Services LLC now owns 35,095 shares of the construction company’s stock valued at $7,090,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Down 1.4 %

VMC stock traded down $3.73 on Tuesday, reaching $257.72. 817,142 shares of the company traded hands, compared to its average volume of 779,552. The firm has a fifty day simple moving average of $265.11 and a 200-day simple moving average of $235.73. The company has a market cap of $34.09 billion, a P/E ratio of 36.92, a price-to-earnings-growth ratio of 1.89 and a beta of 0.83. Vulcan Materials has a one year low of $174.17 and a one year high of $276.58. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.17 and a quick ratio of 2.39.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Friday, February 16th. The construction company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.06. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.84 billion. Vulcan Materials had a return on equity of 12.80% and a net margin of 11.99%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. Research analysts anticipate that Vulcan Materials will post 8.47 earnings per share for the current year.

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.43. Vulcan Materials’s dividend payout ratio is currently 26.36%.

Insider Activity

In other Vulcan Materials news, insider Stanley G. Bass sold 8,310 shares of Vulcan Materials stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $251.68, for a total value of $2,091,460.80. Following the completion of the sale, the insider now owns 29,311 shares of the company’s stock, valued at approximately $7,376,992.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Vulcan Materials news, SVP Denson N. Franklin III sold 3,200 shares of Vulcan Materials stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total value of $862,336.00. Following the completion of the sale, the senior vice president now owns 5,395 shares of the company’s stock, valued at approximately $1,453,844.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Stanley G. Bass sold 8,310 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $251.68, for a total value of $2,091,460.80. Following the transaction, the insider now directly owns 29,311 shares in the company, valued at $7,376,992.48. The disclosure for this sale can be found here. Insiders have sold a total of 13,017 shares of company stock worth $3,344,741 over the last 90 days. 0.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Raymond James raised their target price on Vulcan Materials from $225.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. restated a “neutral” rating and set a $270.00 target price (up previously from $245.00) on shares of Vulcan Materials in a report on Friday, March 22nd. Truist Financial boosted 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. Jefferies Financial Group lifted their target price on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Morgan Stanley started coverage on shares of Vulcan Materials in a research note on Monday, January 8th. They issued an “equal weight” rating and a $208.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $273.00.

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.