Evercore Wealth Management LLC Lowers Position in Vulcan Materials (NYSE:VMC)

Evercore Wealth Management LLC lessened its holdings in Vulcan Materials (NYSE:VMCFree Report) by 5.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,038 shares of the construction company’s stock after selling 60 shares during the period. Evercore Wealth Management LLC’s holdings in Vulcan Materials were worth $236,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in shares of Vulcan Materials by 47.4% in the third quarter. JPMorgan Chase & Co. now owns 4,503,484 shares of the construction company’s stock worth $909,794,000 after buying an additional 1,447,700 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Vulcan Materials by 1.5% in the fourth quarter. Principal Financial Group Inc. now owns 4,410,854 shares of the construction company’s stock worth $1,001,308,000 after buying an additional 66,634 shares in the last quarter. FMR LLC raised its position in shares of Vulcan Materials by 6.8% in the third quarter. FMR LLC now owns 3,042,842 shares of the construction company’s stock worth $614,715,000 after buying an additional 194,337 shares in the last quarter. Northern Trust Corp raised its position in shares of Vulcan Materials by 2.2% in the third quarter. Northern Trust Corp now owns 2,481,652 shares of the construction company’s stock worth $501,343,000 after buying an additional 54,450 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Vulcan Materials by 3.7% in the third quarter. Invesco Ltd. now owns 2,314,301 shares of the construction company’s stock worth $467,535,000 after buying an additional 83,185 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Up 0.1 %

NYSE VMC opened at $247.81 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.81. The stock has a market capitalization of $32.77 billion, a PE ratio of 36.18, a PEG ratio of 1.84 and a beta of 0.84. Vulcan Materials has a 1 year low of $190.51 and a 1 year high of $276.58. The business’s 50-day moving average is $260.53 and its 200 day moving average is $246.57.

Vulcan Materials (NYSE:VMCGet Free Report) last posted its earnings results on Thursday, May 2nd. The construction company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.11). The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.50 billion. Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 earnings per share. Sell-side analysts forecast that Vulcan Materials will post 8.55 earnings per share for the current year.

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were paid a $0.46 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.84 annualized dividend and a dividend yield of 0.74%. Vulcan Materials’s payout ratio is presently 26.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on VMC shares. Truist Financial raised their price target on Vulcan Materials from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group raised their price target on Vulcan Materials from $264.00 to $292.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. restated a “neutral” rating and set a $270.00 price target (up previously from $245.00) on shares of Vulcan Materials in a research report on Friday, March 22nd. Citigroup raised their price target on Vulcan Materials from $263.00 to $322.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Jefferies Financial Group raised their price target on Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $277.08.

Read Our Latest Analysis on VMC

Insider Buying and Selling

In related news, SVP David P. Clement sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $254.50, for a total value of $254,500.00. Following the sale, the senior vice president now directly owns 2,660 shares of the company’s stock, valued at $676,970. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vulcan Materials news, SVP Denson N. Franklin III sold 3,200 shares of Vulcan Materials stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $269.48, for a total transaction of $862,336.00. Following the sale, the senior vice president now directly owns 5,395 shares of the company’s stock, valued at approximately $1,453,844.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP David P. Clement sold 1,000 shares of Vulcan Materials stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $254.50, for a total value of $254,500.00. Following the sale, the senior vice president now directly owns 2,660 shares in the company, valued at $676,970. The disclosure for this sale can be found here. Insiders have sold 19,410 shares of company stock valued at $5,266,356 over the last ninety days. 0.61% of the stock is owned by insiders.

About Vulcan Materials

(Free Report)

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.

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

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