MAI Capital Management Sells 232 Shares of Vulcan Materials (NYSE:VMC)

MAI Capital Management reduced its stake in shares of Vulcan Materials (NYSE:VMC) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,204 shares of the construction company’s stock after selling 232 shares during the quarter. MAI Capital Management’s holdings in Vulcan Materials were worth $8,816,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of VMC. Swiss National Bank lifted its holdings in Vulcan Materials by 0.3% during the 3rd quarter. Swiss National Bank now owns 392,600 shares of the construction company’s stock worth $98,319,000 after buying an additional 1,100 shares in the last quarter. Tower Bridge Advisors lifted its stake in shares of Vulcan Materials by 64.5% during the third quarter. Tower Bridge Advisors now owns 4,936 shares of the construction company’s stock valued at $1,236,000 after acquiring an additional 1,936 shares during the period. GoalVest Advisory LLC acquired a new position in shares of Vulcan Materials during the third quarter valued at $125,000. Mutual of America Capital Management LLC boosted its holdings in Vulcan Materials by 1.4% in the third quarter. Mutual of America Capital Management LLC now owns 19,447 shares of the construction company’s stock valued at $4,870,000 after acquiring an additional 262 shares during the last quarter. Finally, Beaton Management Co. Inc. bought a new stake in Vulcan Materials during the 3rd quarter worth about $203,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analyst Ratings Changes

VMC has been the topic of several recent research reports. UBS Group started coverage on shares of Vulcan Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $349.00 target price on the stock. Royal Bank of Canada reduced their price objective on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Citigroup reduced their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Vulcan Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.46.

Vulcan Materials Price Performance

Shares of VMC opened at $278.74 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.02 and a current ratio of 2.86. The firm has a market capitalization of $36.81 billion, a PE ratio of 43.97, a P/E/G ratio of 2.68 and a beta of 0.81. The stock has a 50 day simple moving average of $257.61 and a 200 day simple moving average of $254.15. Vulcan Materials has a 52-week low of $209.39 and a 52-week high of $298.31.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.12). Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the company earned $2.29 EPS. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. Sell-side analysts predict that Vulcan Materials will post 7.2 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s dividend payout ratio is 29.02%.

About Vulcan Materials

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.