Gabelli Funds LLC Reduces Stock Holdings in Vulcan Materials (NYSE:VMC)

Gabelli Funds LLC lowered its position in Vulcan Materials (NYSE:VMC) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,200 shares of the construction company’s stock after selling 300 shares during the quarter. Gabelli Funds LLC’s holdings in Vulcan Materials were worth $8,386,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in VMC. Achmea Investment Management B.V. purchased a new position in shares of Vulcan Materials in the first quarter valued at $29,000. Raleigh Capital Management Inc. purchased a new position in shares of Vulcan Materials in the second quarter valued at $30,000. M&R Capital Management Inc. increased its position in shares of Vulcan Materials by 144.8% in the second quarter. M&R Capital Management Inc. now owns 142 shares of the construction company’s stock valued at $32,000 after buying an additional 84 shares in the last quarter. Money Concepts Capital Corp purchased a new stake in Vulcan Materials during the 4th quarter worth about $39,000. Finally, Fiduciary Alliance LLC purchased a new stake in Vulcan Materials during the 2nd quarter worth about $41,000. Hedge funds and other institutional investors own 90.10% of the company’s stock.

Vulcan Materials Stock Performance

NYSE VMC opened at $210.38 on Tuesday. The firm has a market capitalization of $27.95 billion, a P/E ratio of 34.10, a P/E/G ratio of 1.33 and a beta of 0.78. Vulcan Materials has a 1-year low of $159.76 and a 1-year high of $229.75. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.13 and a quick ratio of 2.47. The business’s 50-day simple moving average is $206.91 and its 200-day simple moving average is $210.76.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Thursday, October 26th. The construction company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.17 billion. Vulcan Materials had a return on equity of 12.35% and a net margin of 10.74%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.78 EPS. Equities analysts predict that Vulcan Materials will post 6.85 EPS for the current year.

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Monday, November 13th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, November 10th. Vulcan Materials’s dividend payout ratio (DPR) is presently 27.88%.

Insider Buying and Selling

In other Vulcan Materials news, SVP Jerry F. Perkins, Jr. sold 788 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $210.69, for a total value of $166,023.72. Following the transaction, the senior vice president now directly owns 6,051 shares of the company’s stock, valued at approximately $1,274,885.19. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Vulcan Materials news, Director Melissa H. Anderson sold 500 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $195.92, for a total transaction of $97,960.00. Following the completion of the transaction, the director now owns 1,530 shares in the company, valued at approximately $299,757.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jerry F. Perkins, Jr. sold 788 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $210.69, for a total value of $166,023.72. Following the transaction, the senior vice president now owns 6,051 shares of the company’s stock, valued at approximately $1,274,885.19. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,863 shares of company stock valued at $1,223,087. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VMC. Stephens lifted their price objective on Vulcan Materials from $230.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. JPMorgan Chase & Co. lifted their price objective on Vulcan Materials from $230.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 24th. Citigroup lifted their price objective on Vulcan Materials from $256.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Raymond James dropped their price objective on Vulcan Materials from $240.00 to $225.00 and set an “outperform” rating for the company in a research report on Monday, October 30th. Finally, DA Davidson lifted their price objective on Vulcan Materials from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.21.

Vulcan Materials Company Profile

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 Aggregates segment 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.