Vulcan Materials (NYSE:VMC) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lessened its holdings in Vulcan Materials (NYSE:VMC) by 31.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 398,756 shares of the construction company’s stock after selling 186,263 shares during the quarter. Lazard Asset Management LLC’s holdings in Vulcan Materials were worth $108,828,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in VMC. Register Financial Advisors LLC acquired a new position in Vulcan Materials in the first quarter worth $27,000. Opal Wealth Advisors LLC acquired a new position in Vulcan Materials in the first quarter worth $33,000. YHB Investment Advisors Inc. acquired a new position in Vulcan Materials in the first quarter worth $34,000. Concord Wealth Partners acquired a new position in Vulcan Materials in the first quarter worth $34,000. Finally, Manchester Capital Management LLC boosted its holdings in Vulcan Materials by 1,218.2% in the first quarter. Manchester Capital Management LLC now owns 145 shares of the construction company’s stock worth $40,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Vulcan Materials stock traded up $7.94 during midday trading on Friday, hitting $261.71. The company’s stock had a trading volume of 673,485 shares, compared to its average volume of 686,519. The company has a quick ratio of 1.81, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. The stock’s 50-day moving average price is $252.03 and its 200-day moving average price is $253.69. Vulcan Materials has a 12 month low of $190.51 and a 12 month high of $276.58. The company has a market capitalization of $34.61 billion, a PE ratio of 38.21, a price-to-earnings-growth ratio of 2.18 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.11). Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the firm posted $0.95 earnings per share. Vulcan Materials’s revenue was down 6.2% compared to the same quarter last year. Analysts anticipate that Vulcan Materials will post 8.32 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, August 15th. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

Insiders Place Their Bets

In other Vulcan Materials news, President Thompson S. Baker II sold 8,600 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $272.95, for a total transaction of $2,347,370.00. Following the sale, the president now owns 1,300 shares in the company, valued at approximately $354,835. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Vulcan Materials news, SVP David P. Clement sold 1,000 shares of Vulcan Materials stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $254.50, for a total transaction of $254,500.00. Following the transaction, the senior vice president now owns 2,660 shares of the company’s stock, valued at approximately $676,970. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Thompson S. Baker II sold 8,600 shares of Vulcan Materials stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $272.95, for a total value of $2,347,370.00. Following the transaction, the president now directly owns 1,300 shares in the company, valued at approximately $354,835. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,210 shares of company stock worth $4,653,520. Company insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Stephens lifted their price objective on shares of Vulcan Materials from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Citigroup reduced their price target on shares of Vulcan Materials from $322.00 to $297.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Jefferies Financial Group boosted their price target on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Royal Bank of Canada boosted their price target on shares of Vulcan Materials from $269.00 to $272.00 and gave the company a “sector perform” rating in a report on Friday, May 3rd. Finally, Loop Capital reduced their price target on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $277.08.

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 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.