Royal Bank of Canada Sells 31,325 Shares of Vulcan Materials Company $VMC

Royal Bank of Canada cut its stake in shares of Vulcan Materials Company (NYSE:VMC) by 8.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 333,758 shares of the construction company’s stock after selling 31,325 shares during the period. Royal Bank of Canada’s holdings in Vulcan Materials were worth $90,883,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of VMC. NBT Bank N A NY purchased a new stake in Vulcan Materials in the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. lifted its holdings in Vulcan Materials by 71.7% during the first quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock valued at $28,000 after purchasing an additional 43 shares in the last quarter. Birchwood Financial Partners Inc. purchased a new position in Vulcan Materials during the fourth quarter valued at approximately $29,000. Godsey & Gibb Inc. bought a new position in shares of Vulcan Materials in the fourth quarter worth approximately $30,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Vulcan Materials in the third quarter worth $30,000. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Price Performance

VMC stock opened at $268.98 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.89 and a current ratio of 1.76. The company’s fifty day moving average price is $288.48 and its 200-day moving average price is $289.87. Vulcan Materials Company has a one year low of $252.35 and a one year high of $331.09. The company has a market capitalization of $34.85 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 1.95 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. Vulcan Materials’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company posted $2.42 earnings per share. On average, equities analysts anticipate that Vulcan Materials Company will post 9.31 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 13th. Vulcan Materials’s dividend payout ratio is 24.56%.

Analysts Set New Price Targets

VMC has been the topic of several recent analyst reports. Raymond James Financial restated an “outperform” rating on shares of Vulcan Materials in a research report on Wednesday, July 15th. Stifel Nicolaus set a $333.00 price objective on Vulcan Materials in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. Stephens increased their target price on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Wall Street Zen downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $327.93.

Insider Activity at Vulcan Materials

In other news, SVP David P. Clement sold 2,212 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $292.29, for a total transaction of $646,545.48. Following the completion of the transaction, the senior vice president owned 8,716 shares in the company, valued at $2,547,599.64. This trade represents a 20.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.65% of the stock is owned by company insiders.

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.