Pendal Group Ltd Sells 125 Shares of Vulcan Materials (NYSE:VMC)

Pendal Group Ltd cut its stake in Vulcan Materials (NYSE:VMC) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,232 shares of the construction company’s stock after selling 125 shares during the quarter. Pendal Group Ltd’s holdings in Vulcan Materials were worth $306,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Patten & Patten Inc. TN grew its position in shares of Vulcan Materials by 0.9% in the 2nd quarter. Patten & Patten Inc. TN now owns 8,579 shares of the construction company’s stock valued at $1,178,000 after purchasing an additional 75 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Vulcan Materials by 0.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 13,757 shares of the construction company’s stock valued at $1,889,000 after purchasing an additional 82 shares during the period. World Asset Management Inc grew its position in shares of Vulcan Materials by 1.0% in the 2nd quarter. World Asset Management Inc now owns 9,209 shares of the construction company’s stock valued at $1,264,000 after purchasing an additional 90 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Vulcan Materials by 1.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the construction company’s stock valued at $829,000 after purchasing an additional 100 shares during the period. Finally, Hartford Investment Management Co. grew its position in shares of Vulcan Materials by 0.7% in the 2nd quarter. Hartford Investment Management Co. now owns 14,467 shares of the construction company’s stock valued at $1,986,000 after purchasing an additional 101 shares during the period. 95.84% of the stock is owned by institutional investors.

In other news, insider Michael R. Mills sold 1,326 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $136.05, for a total transaction of $180,402.30. Following the sale, the insider now owns 51,713 shares in the company, valued at approximately $7,035,553.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stanley G. Bass sold 6,207 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $135.80, for a total value of $842,910.60. Following the sale, the insider now owns 53,813 shares in the company, valued at approximately $7,307,805.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,287 shares of company stock worth $1,260,033. Company insiders own 0.79% of the company’s stock.

VMC has been the subject of several research analyst reports. ValuEngine lowered Vulcan Materials from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Longbow Research boosted their price objective on Vulcan Materials from $145.00 to $153.00 and gave the company a “buy” rating in a research report on Friday, July 26th. SunTrust Banks boosted their price objective on Vulcan Materials to $145.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada set a $142.00 price target on Vulcan Materials and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Argus set a $152.00 price target on Vulcan Materials and gave the stock a “buy” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Vulcan Materials has a consensus rating of “Buy” and a consensus price target of $135.44.

NYSE:VMC opened at $141.73 on Friday. Vulcan Materials has a twelve month low of $82.52 and a twelve month high of $142.04. The company has a quick ratio of 1.23, a current ratio of 1.89 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average price of $137.72 and a two-hundred day moving average price of $125.11. The company has a market cap of $18.41 billion, a P/E ratio of 35.00, a price-to-earnings-growth ratio of 1.64 and a beta of 0.93.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Thursday, July 25th. The construction company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. Vulcan Materials had a return on equity of 11.07% and a net margin of 12.12%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. The business’s revenue was up 10.6% on a year-over-year basis. As a group, analysts anticipate that Vulcan Materials will post 4.85 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Tuesday, August 20th. Vulcan Materials’s dividend payout ratio is currently 30.62%.

Vulcan Materials Company Profile

Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the 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.

Further Reading: What is the Ex-Dividend Date in Investing?

Institutional Ownership by Quarter for Vulcan Materials (NYSE:VMC)

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