UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stake in Vulcan Materials Company $VMC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 951,656 shares of the construction company’s stock after selling 3,645 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Vulcan Materials were worth $280,748,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in VMC. BlackRock Inc. acquired a new position in shares of Vulcan Materials in the 2nd quarter valued at $2,868,444,000. Bank of America Corp DE acquired a new stake in Vulcan Materials during the 2nd quarter worth $688,580,000. The Manufacturers Life Insurance Company acquired a new stake in Vulcan Materials during the 2nd quarter worth $451,119,000. Norges Bank purchased a new stake in Vulcan Materials in the fourth quarter valued at $383,613,000. Finally, Stockbridge Partners LLC purchased a new stake in Vulcan Materials in the second quarter valued at $314,470,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Down 1.8%

Shares of NYSE:VMC opened at $269.62 on Tuesday. Vulcan Materials Company has a 1-year low of $252.35 and a 1-year high of $331.09. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20. The stock has a market cap of $34.94 billion, a P/E ratio of 31.83, a P/E/G ratio of 1.98 and a beta of 1.06. The firm has a fifty day moving average price of $286.03 and a 200 day moving average price of $285.56.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.13. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the business posted $2.42 earnings per share. Vulcan Materials’s quarterly revenue was up 2.5% on a year-over-year basis. Sell-side analysts predict that Vulcan Materials Company will post 9.29 EPS for the current year.

Vulcan Materials Dividend Announcement

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

Insider Activity

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of the stock in a transaction that occurred on 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 sale, the senior vice president directly owned 8,716 shares of the company’s stock, valued at approximately $2,547,599.64. This trade represents a 20.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Thomas Hill sold 14,000 shares of Vulcan Materials stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $276.17, for a total value of $3,866,380.00. Following the completion of the transaction, the director owned 58,209 shares in the company, valued at $16,075,579.53. This trade represents a 19.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,212 shares of company stock worth $5,083,125 in the last 90 days. 0.65% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

VMC has been the topic of several research reports. UBS Group dropped their price objective on Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Vulcan Materials in a report on Tuesday, July 7th. Citigroup decreased their target price on Vulcan Materials from $355.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. DA Davidson started coverage on Vulcan Materials in a research note on Tuesday, August 25th. They set a “buy” rating and a $330.00 price target on the stock. Finally, Oppenheimer began coverage on Vulcan Materials in a research report on Thursday, May 28th. They set a “market perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $328.64.

Vulcan Materials Company 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.