Vulcan Materials Company $VMC Shares Sold by Pine Harbor Wealth Management LLC

Pine Harbor Wealth Management LLC reduced its stake in shares of Vulcan Materials Company (NYSE:VMC) by 65.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,345 shares of the construction company’s stock after selling 2,542 shares during the quarter. Pine Harbor Wealth Management LLC’s holdings in Vulcan Materials were worth $366,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Lone Pine Capital LLC acquired a new stake in shares of Vulcan Materials during the 3rd quarter worth approximately $425,938,000. Norges Bank purchased a new position in shares of Vulcan Materials during the 4th quarter valued at approximately $383,613,000. Egerton Capital UK LLP acquired a new position in shares of Vulcan Materials in the 4th quarter valued at $273,861,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Vulcan Materials by 121.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 717,409 shares of the construction company’s stock valued at $204,619,000 after purchasing an additional 393,339 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Vulcan Materials by 993.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 396,628 shares of the construction company’s stock worth $113,126,000 after buying an additional 360,368 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Raymond James Financial set a $325.00 target price on Vulcan Materials in a research report on Thursday, April 30th. Citigroup reduced their price target on Vulcan Materials from $365.00 to $355.00 and set a “buy” rating for the company in a report on Friday, May 1st. Royal Bank Of Canada lowered their price target on Vulcan Materials from $298.00 to $293.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Zacks Research upgraded Vulcan Materials from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 9th. Finally, Barclays boosted their price objective on Vulcan Materials from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $326.54.

Insider Activity

In other news, SVP David P. Clement sold 2,212 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $292.29, for a total transaction of $646,545.48. Following the sale, the senior vice president owned 8,716 shares of the company’s stock, valued at approximately $2,547,599.64. This represents a 20.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Vulcan Materials Price Performance

Vulcan Materials stock opened at $303.45 on Friday. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $286.49 and a 200 day moving average price of $290.89. Vulcan Materials Company has a 12-month low of $252.35 and a 12-month high of $331.09. The stock has a market cap of $39.38 billion, a P/E ratio of 36.08, a PEG ratio of 2.19 and a beta of 1.05.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.10 by $0.25. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.64 billion. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.00 EPS. Sell-side analysts anticipate that Vulcan Materials Company will post 9.27 earnings per share for the current year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a dividend of $0.52 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. Vulcan Materials’s dividend payout ratio is 24.73%.

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.