New York State Teachers Retirement System Sells 6,629 Shares of Vulcan Materials Company $VMC

New York State Teachers Retirement System cut its stake in shares of Vulcan Materials Company (NYSE:VMC) by 6.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,695 shares of the construction company’s stock after selling 6,629 shares during the period. New York State Teachers Retirement System owned about 0.07% of Vulcan Materials worth $28,822,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Unified Investment Management raised its holdings in shares of Vulcan Materials by 1.7% in the second quarter. Unified Investment Management now owns 2,259 shares of the construction company’s stock valued at $589,000 after purchasing an additional 38 shares during the last quarter. Rosenberg Matthew Hamilton grew its position in Vulcan Materials by 6.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 648 shares of the construction company’s stock worth $169,000 after purchasing an additional 38 shares in the last quarter. Fulton Bank N.A. grew its position in Vulcan Materials by 4.1% in the 3rd quarter. Fulton Bank N.A. now owns 960 shares of the construction company’s stock worth $295,000 after purchasing an additional 38 shares in the last quarter. Harfst & Associates Inc. increased its stake in Vulcan Materials by 0.6% in the 3rd quarter. Harfst & Associates Inc. now owns 6,416 shares of the construction company’s stock valued at $1,974,000 after buying an additional 38 shares during the last quarter. Finally, Chemistry Wealth Management LLC lifted its position in shares of Vulcan Materials by 3.0% during the 2nd quarter. Chemistry Wealth Management LLC now owns 1,343 shares of the construction company’s stock worth $350,000 after buying an additional 39 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Stock Performance

NYSE:VMC opened at $309.74 on Tuesday. The company has a market capitalization of $40.93 billion, a P/E ratio of 36.79, a P/E/G ratio of 2.20 and a beta of 1.06. The business has a fifty day simple moving average of $292.04 and a two-hundred day simple moving average of $288.79. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.23 and a quick ratio of 1.56. Vulcan Materials Company has a 1 year low of $215.08 and a 1 year high of $313.37.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Thursday, October 30th. The construction company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.12. Vulcan Materials had a return on equity of 13.47% and a net margin of 14.19%.The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the company earned $2.22 EPS. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, analysts expect that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Insider Activity

In related news, President Thompson S. Baker II sold 7,135 shares of Vulcan Materials stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $300.81, for a total value of $2,146,279.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David P. Clement sold 2,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $288.55, for a total value of $577,100.00. Following the sale, the senior vice president owned 832 shares in the company, valued at approximately $240,073.60. This represents a 70.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 20,471 shares of company stock valued at $6,054,615 over the last quarter. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

VMC has been the subject of several recent analyst reports. Wells Fargo & Company raised Vulcan Materials to a “hold” rating in a report on Wednesday, October 8th. Royal Bank Of Canada reduced their price objective on Vulcan Materials from $279.00 to $278.00 and set a “sector perform” rating for the company in a research note on Friday, October 31st. Raymond James Financial upped their price objective on Vulcan Materials from $295.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Citigroup raised their target price on Vulcan Materials from $342.00 to $345.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays boosted their price target on shares of Vulcan Materials from $305.00 to $320.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $317.83.

Vulcan Materials Profile

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.