Keebeck Wealth Management Reduces Position in Vulcan Materials Company $VMC

Keebeck Wealth Management reduced its stake in shares of Vulcan Materials Company (NYSE:VMC) by 30.0% in the first quarter, Holdings Channel reports. The firm owned 4,975 shares of the construction company’s stock after selling 2,129 shares during the period. Keebeck Wealth Management’s holdings in Vulcan Materials were worth $1,355,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. NBT Bank N A NY purchased a new stake in Vulcan Materials during the fourth quarter valued at approximately $26,000. Meeder Asset Management Inc. lifted its holdings in shares of Vulcan Materials by 71.7% during the first quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock worth $28,000 after purchasing an additional 43 shares during the period. Birchwood Financial Partners Inc. acquired a new stake in Vulcan Materials during the 4th quarter valued at approximately $29,000. Godsey & Gibb Inc. acquired a new position in shares of Vulcan Materials in the 4th quarter valued at about $30,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Vulcan Materials during the 3rd quarter valued at approximately $30,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Vulcan Materials

In related news, SVP David P. Clement sold 2,212 shares of the stock in a transaction 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 $2,547,599.64. This trade 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 is available through this link. 0.65% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

VMC has been the subject of a number of analyst reports. Oppenheimer assumed coverage on Vulcan Materials in a report on Thursday, May 28th. They issued a “market perform” rating for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Vulcan Materials in a research report on Tuesday, July 7th. Zacks Research upgraded Vulcan Materials from a “strong sell” rating to a “hold” rating in a report on Thursday, April 9th. Berenberg Bank set a $283.00 price target on shares of Vulcan Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Finally, Barclays raised their price objective on Vulcan Materials from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Vulcan Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $327.79.

Vulcan Materials Stock Up 1.9%

Shares of Vulcan Materials stock opened at $280.20 on Friday. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $286.78 and a 200 day moving average of $290.59. The company has a market capitalization of $36.36 billion, a P/E ratio of 33.32, a P/E/G ratio of 1.98 and a beta of 1.05. Vulcan Materials Company has a 52-week low of $252.35 and a 52-week high of $331.09.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.25. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the company earned $1.00 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, research analysts forecast that Vulcan Materials Company will post 9.3 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.08 annualized dividend and a yield of 0.7%. Vulcan Materials’s dividend payout ratio is currently 24.73%.

About Vulcan Materials

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.