First Republic Investment Management Inc. Reduces Position in Vulcan Materials (NYSE:VMC)

First Republic Investment Management Inc. lowered its stake in shares of Vulcan Materials (NYSE:VMC) by 10.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,571 shares of the construction company’s stock after selling 415 shares during the quarter. First Republic Investment Management Inc.’s holdings in Vulcan Materials were worth $490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its position in Vulcan Materials by 21.8% in the first quarter. BlackRock Inc. now owns 10,405,781 shares of the construction company’s stock worth $1,232,045,000 after acquiring an additional 1,864,819 shares during the period. Lazard Asset Management LLC lifted its position in Vulcan Materials by 19.5% during the first quarter. Lazard Asset Management LLC now owns 4,387,024 shares of the construction company’s stock valued at $519,423,000 after purchasing an additional 714,979 shares during the last quarter. Egerton Capital UK LLP lifted its position in Vulcan Materials by 45.3% during the first quarter. Egerton Capital UK LLP now owns 4,236,189 shares of the construction company’s stock valued at $501,565,000 after purchasing an additional 1,320,882 shares during the last quarter. Principal Financial Group Inc. lifted its position in Vulcan Materials by 11.1% during the first quarter. Principal Financial Group Inc. now owns 3,635,702 shares of the construction company’s stock valued at $430,467,000 after purchasing an additional 364,675 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in Vulcan Materials by 1.2% during the first quarter. Clearbridge Investments LLC now owns 2,462,306 shares of the construction company’s stock valued at $291,537,000 after purchasing an additional 28,371 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

NYSE:VMC traded up $2.67 during mid-day trading on Friday, hitting $147.58. The stock had a trading volume of 975,787 shares, compared to its average volume of 1,066,773. The company has a current ratio of 1.89, a quick ratio of 1.23 and a debt-to-equity ratio of 0.59. The stock has a 50-day simple moving average of $140.30 and a two-hundred day simple moving average of $129.32. Vulcan Materials has a twelve month low of $82.52 and a twelve month high of $148.15. The company has a market capitalization of $18.80 billion, a PE ratio of 36.44, a PEG ratio of 1.68 and a beta of 0.93.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Thursday, July 25th. The construction company reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 period last year, the company earned $1.23 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Sell-side analysts predict that Vulcan Materials will post 4.84 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Wednesday, August 21st were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Tuesday, August 20th. Vulcan Materials’s dividend payout ratio is presently 30.62%.

In other news, insider Stanley G. Bass sold 6,207 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $135.80, for a total transaction of $842,910.60. Following the completion of the sale, the insider now directly owns 53,813 shares of the company’s stock, valued at $7,307,805.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stanley G. Bass sold 2,406 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $141.94, for a total value of $341,507.64. Following the completion of the sale, the insider now directly owns 35,263 shares of the company’s stock, valued at $5,005,230.22. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Several equities analysts have commented on the stock. Stifel Nicolaus increased their price objective on shares of Vulcan Materials from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. ValuEngine downgraded shares of Vulcan Materials from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Argus set a $152.00 price objective on shares of Vulcan Materials and gave the company a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada set a $142.00 target price on shares of Vulcan Materials and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Longbow Research boosted their price target on shares of Vulcan Materials from $145.00 to $153.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $138.25.

About Vulcan Materials

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.

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

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