Metropolitan Life Insurance Co. NY trimmed its holdings in Vulcan Materials (NYSE:VMC) by 61.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,885 shares of the construction company’s stock after selling 42,046 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Vulcan Materials were worth $3,323,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of VMC. BlackRock Inc. grew its position in Vulcan Materials by 18.4% in the fourth quarter. BlackRock Inc. now owns 10,394,204 shares of the construction company’s stock worth $1,334,304,000 after acquiring an additional 1,614,350 shares in the last quarter. Fred Alger Management Inc. grew its position in Vulcan Materials by 87.8% in the fourth quarter. Fred Alger Management Inc. now owns 1,639,575 shares of the construction company’s stock worth $210,472,000 after acquiring an additional 766,462 shares in the last quarter. Third Point LLC grew its position in Vulcan Materials by 46.9% in the third quarter. Third Point LLC now owns 2,350,000 shares of the construction company’s stock worth $281,060,000 after acquiring an additional 750,000 shares in the last quarter. Millennium Management LLC grew its position in Vulcan Materials by 256.9% in the fourth quarter. Millennium Management LLC now owns 1,013,853 shares of the construction company’s stock worth $130,148,000 after acquiring an additional 729,757 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in Vulcan Materials by 116.5% in the third quarter. Point72 Asset Management L.P. now owns 1,038,752 shares of the construction company’s stock worth $124,235,000 after acquiring an additional 558,900 shares in the last quarter. 92.23% of the stock is owned by institutional investors.
In other news, insider Michael R. Mills sold 4,659 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $133.25, for a total value of $620,811.75. Following the completion of the transaction, the insider now owns 45,351 shares in the company, valued at approximately $6,043,020.75. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael R. Mills sold 3,738 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $134.56, for a total transaction of $502,985.28. Following the completion of the transaction, the insider now owns 44,581 shares of the company’s stock, valued at approximately $5,998,819.36. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.
VMC has been the subject of several recent research reports. Citigroup reissued a “buy” rating and issued a $144.00 target price on shares of Vulcan Materials in a research report on Tuesday, December 26th. SunTrust Banks set a $145.00 price objective on shares of Vulcan Materials and gave the stock a “buy” rating in a report on Saturday, December 16th. Zacks Investment Research raised shares of Vulcan Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 12th. Bank of America upped their price objective on shares of Vulcan Materials from $129.00 to $139.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Finally, Barclays initiated coverage on shares of Vulcan Materials in a report on Tuesday, December 12th. They set an “overweight” rating and a $135.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Vulcan Materials has an average rating of “Buy” and an average target price of $145.11.
VMC stock opened at $114.14 on Wednesday. The company has a market cap of $15,222.23, a price-to-earnings ratio of 38.05, a P/E/G ratio of 1.19 and a beta of 0.95. Vulcan Materials has a one year low of $108.95 and a one year high of $141.20. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.66.
Vulcan Materials (NYSE:VMC) last released its earnings results on Friday, February 16th. The construction company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The firm had revenue of $977.50 million during the quarter, compared to analysts’ expectations of $929.36 million. Vulcan Materials had a net margin of 15.45% and a return on equity of 8.68%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS. equities analysts predict that Vulcan Materials will post 4.4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 23rd were paid a dividend of $0.28 per share. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a yield of 0.98%. The ex-dividend date was Thursday, February 22nd. Vulcan Materials’s dividend payout ratio is presently 25.11%.
WARNING: This piece was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international trademark and copyright law. The legal version of this piece can be read at https://www.dispatchtribunal.com/2018/03/21/vulcan-materials-vmc-shares-sold-by-metropolitan-life-insurance-co-ny.html.
About Vulcan Materials
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
Want to see what other hedge funds are holding VMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vulcan Materials (NYSE:VMC).
Receive News & Ratings for Vulcan Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vulcan Materials and related companies with MarketBeat.com's FREE daily email newsletter.