Vulcan Materials Company $VMC Shares Sold by Patten Group Inc.

Patten Group Inc. decreased its position in shares of Vulcan Materials Company (NYSE:VMC) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,343 shares of the construction company’s stock after selling 218 shares during the quarter. Patten Group Inc.’s holdings in Vulcan Materials were worth $2,437,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its holdings in shares of Vulcan Materials by 21.0% during the first quarter. Golden State Wealth Management LLC now owns 951 shares of the construction company’s stock valued at $222,000 after acquiring an additional 165 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Vulcan Materials by 42.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,798 shares of the construction company’s stock valued at $3,686,000 after acquiring an additional 4,678 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Vulcan Materials by 27.2% during the first quarter. GAMMA Investing LLC now owns 1,706 shares of the construction company’s stock valued at $398,000 after acquiring an additional 365 shares during the period. Atria Wealth Solutions Inc. boosted its holdings in shares of Vulcan Materials by 7.8% during the first quarter. Atria Wealth Solutions Inc. now owns 3,870 shares of the construction company’s stock valued at $903,000 after acquiring an additional 281 shares during the period. Finally, Diversified Trust Co boosted its holdings in shares of Vulcan Materials by 3.2% during the second quarter. Diversified Trust Co now owns 1,625 shares of the construction company’s stock valued at $424,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $298.56, for a total value of $208,394.88. Following the completion of the sale, the senior vice president directly owned 2,832 shares of the company’s stock, valued at approximately $845,521.92. This represents a 19.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $298.01 on Wednesday. Vulcan Materials Company has a twelve month low of $215.08 and a twelve month high of $311.74. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $39.37 billion, a price-to-earnings ratio of 41.62, a PEG ratio of 2.41 and a beta of 0.92. The firm has a 50-day moving average of $296.44 and a two-hundred day moving average of $274.22.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.20). Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the previous year, the company posted $2.35 earnings per share. Vulcan Materials’s revenue was up 4.4% compared to the same quarter last year. As a group, analysts expect that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Monday, November 10th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, November 10th. Vulcan Materials’s dividend payout ratio is presently 27.37%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating for the company in a report on Monday, July 28th. Raymond James Financial upped their price objective on shares of Vulcan Materials from $295.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vulcan Materials in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada reduced their price objective on shares of Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating for the company in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.17.

About Vulcan Materials

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.