iA Global Asset Management Inc. Reduces Position in Vulcan Materials Company $VMC

iA Global Asset Management Inc. lessened its position in shares of Vulcan Materials Company (NYSE:VMC) by 29.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 23,850 shares of the construction company’s stock after selling 9,835 shares during the quarter. iA Global Asset Management Inc.’s holdings in Vulcan Materials were worth $6,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. grew its stake in Vulcan Materials by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock worth $25,000 after buying an additional 42 shares during the last quarter. NBT Bank N A NY purchased a new position in Vulcan Materials during the 4th quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. purchased a new position in Vulcan Materials during the 3rd quarter worth approximately $29,000. Godsey & Gibb Inc. purchased a new position in Vulcan Materials during the 4th quarter worth approximately $30,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Vulcan Materials in the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Up 0.0%

VMC opened at $267.92 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.59 and a quick ratio of 1.89. The business has a 50 day simple moving average of $280.06 and a 200-day simple moving average of $292.00. The stock has a market capitalization of $34.76 billion, a P/E ratio of 31.86, a P/E/G ratio of 1.94 and a beta of 1.09. Vulcan Materials Company has a 12 month low of $252.35 and a 12 month high of $331.09.

Vulcan Materials (NYSE:VMC) last posted 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 during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $1.00 EPS. On average, equities analysts anticipate that Vulcan Materials Company will post 9.29 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, May 22nd. Vulcan Materials’s dividend payout ratio (DPR) is currently 24.73%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Zacks Research upgraded Vulcan Materials from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 9th. Morgan Stanley lowered their target price on Vulcan Materials from $322.00 to $321.00 and set an “equal weight” rating on the stock in a research note on Monday, April 6th. Truist Financial lifted their target price on Vulcan Materials from $320.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Wall Street Zen upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Citigroup lowered their target price on Vulcan Materials from $365.00 to $355.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $330.58.

Insider Activity at Vulcan Materials

In other news, Director Melissa H. Anderson sold 1,137 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $303.72, for a total value of $345,329.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is owned by corporate 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.