Massachusetts Financial Services Co. MA Trims Stock Holdings in Vulcan Materials Company $VMC

Massachusetts Financial Services Co. MA trimmed its holdings in Vulcan Materials Company (NYSE:VMC) by 0.6% during the second quarter, HoldingsChannel.com reports. The fund owned 3,510,786 shares of the construction company’s stock after selling 21,836 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Vulcan Materials were worth $915,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Unified Investment Management boosted its stake in shares of Vulcan Materials by 1.7% during the second quarter. Unified Investment Management now owns 2,259 shares of the construction company’s stock worth $589,000 after buying an additional 38 shares during the period. Rosenberg Matthew Hamilton grew its stake in shares of Vulcan Materials by 6.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 648 shares of the construction company’s stock valued at $169,000 after purchasing an additional 38 shares during the last quarter. Manchester Capital Management LLC increased its holdings in shares of Vulcan Materials by 26.9% in the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company’s stock valued at $43,000 after purchasing an additional 39 shares during the period. Chemistry Wealth Management LLC raised its stake in shares of Vulcan Materials by 3.0% during the second quarter. Chemistry Wealth Management LLC now owns 1,343 shares of the construction company’s stock worth $350,000 after purchasing an additional 39 shares during the last quarter. Finally, ORG Partners LLC lifted its holdings in shares of Vulcan Materials by 86.3% during the second quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock worth $25,000 after purchasing an additional 44 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP David P. Clement sold 698 shares of Vulcan Materials stock in a transaction on Friday, September 12th. The stock was sold at an average price of $298.56, for a total value of $208,394.88. Following the transaction, the senior vice president owned 2,832 shares in the company, valued at approximately $845,521.92. This trade represents a 19.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Thompson S. Baker II sold 4,853 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $295.63, for a total value of $1,434,692.39. Following the sale, the president owned 41,485 shares of the company’s stock, valued at $12,264,210.55. The trade was a 10.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 11,369 shares of company stock valued at $3,343,456. Insiders own 0.62% of the company’s stock.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $280.38 on Friday. 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’s 50-day moving average price is $296.02 and its 200 day moving average price is $280.56. Vulcan Materials Company has a 52 week low of $215.08 and a 52 week high of $311.74. The stock has a market cap of $37.05 billion, a price-to-earnings ratio of 39.16, a PEG ratio of 2.39 and a beta of 0.95.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.72 by $0.12. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the business earned $2.22 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. As a group, research analysts forecast that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Monday, November 10th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. Vulcan Materials’s payout ratio is currently 23.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company upgraded shares of Vulcan Materials to a “hold” rating in a research report on Wednesday, October 8th. Stifel Nicolaus set a $327.00 price target on shares of Vulcan Materials in a report on Monday, November 3rd. DA Davidson lifted their price objective on Vulcan Materials from $315.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Vulcan Materials in a report on Thursday, October 30th. Finally, Morgan Stanley cut their price objective on Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating for the company in a research report on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $317.58.

Vulcan Materials Company Profile

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.