Rainier Investment Management LLC reduced its stake in shares of Vulcan Materials (NYSE:VMC) by 45.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,430 shares of the construction company’s stock after selling 21,270 shares during the period. Rainier Investment Management LLC’s holdings in Vulcan Materials were worth $3,264,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Cerebellum GP LLC purchased a new stake in Vulcan Materials in the fourth quarter valued at about $133,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in shares of Vulcan Materials in the fourth quarter valued at about $200,000. WINTON GROUP Ltd acquired a new position in shares of Vulcan Materials in the second quarter valued at about $218,000. FCA Corp TX acquired a new position in shares of Vulcan Materials in the third quarter valued at about $215,000. Finally, LMR Partners LLP acquired a new position in shares of Vulcan Materials in the third quarter valued at about $220,000. 88.78% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on VMC shares. Citigroup reissued a “buy” rating and issued a $144.00 price objective on shares of Vulcan Materials in a report on Tuesday, December 26th. SunTrust Banks set a $145.00 target price on Vulcan Materials and gave the stock a “buy” rating in a report on Saturday, December 16th. Zacks Investment Research raised Vulcan Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 12th. Barclays began coverage on Vulcan Materials in a report on Tuesday, December 12th. They set an “overweight” rating and a $135.00 target price on the stock. Finally, Stephens reaffirmed a “buy” rating and set a $158.00 target price on shares of Vulcan Materials in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Vulcan Materials presently has a consensus rating of “Buy” and an average target price of $146.13.
In other news, insider Michael R. Mills sold 4,659 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $133.25, for a total value of $620,811.75. Following the transaction, the insider now owns 45,351 shares in the company, valued at $6,043,020.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael R. Mills sold 3,738 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $134.56, for a total value of $502,985.28. Following the completion of the transaction, the insider now owns 44,581 shares in the company, valued at approximately $5,998,819.36. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.
Shares of Vulcan Materials (NYSE VMC) traded up $2.30 on Monday, reaching $127.30. The company’s stock had a trading volume of 836,906 shares, compared to its average volume of 1,484,814. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.34 and a current ratio of 4.22. Vulcan Materials has a one year low of $108.95 and a one year high of $141.20. The firm has a market capitalization of $16,830.00, a price-to-earnings ratio of 43.60, a P/E/G ratio of 1.83 and a beta of 0.84.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be issued a $0.28 dividend. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a yield of 0.88%. Vulcan Materials’s dividend payout ratio (DPR) is presently 34.13%.
About Vulcan Materials
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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