Skandinaviska Enskilda Banken AB publ Cuts Stock Position in Vulcan Materials Company $VMC

by · The Cerbat Gem

Skandinaviska Enskilda Banken AB publ lessened its holdings in Vulcan Materials Company (NYSE:VMC – Free Report) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,685 shares of the construction company’s stock after selling 800 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Vulcan Materials were worth $7,218,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Vulcan Materials by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 16,895,644 shares of the construction company’s stock worth $4,406,722,000 after buying an additional 195,982 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Vulcan Materials by 12.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,824,987 shares of the construction company’s stock valued at $2,040,914,000 after acquiring an additional 857,210 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Vulcan Materials by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,491,618 shares of the construction company’s stock valued at $906,961,000 after acquiring an additional 27,531 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Vulcan Materials by 7.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,872,652 shares of the construction company’s stock worth $495,635,000 after acquiring an additional 130,949 shares in the last quarter. Finally, Alkeon Capital Management LLC increased its stake in Vulcan Materials by 4.4% during the first quarter. Alkeon Capital Management LLC now owns 1,338,346 shares of the construction company’s stock worth $312,236,000 after acquiring an additional 56,345 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada lowered their price objective on Vulcan Materials from $279.00 to $278.00 and set a “sector perform” rating for the company in a research note on Friday, October 31st. Stifel Nicolaus set a $327.00 price target on Vulcan Materials in a research report on Monday, November 3rd. Barclays lifted their price objective on shares of Vulcan Materials from $305.00 to $320.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. DA Davidson boosted their price objective on shares of Vulcan Materials from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Citigroup lowered their target price on shares of Vulcan Materials from $356.00 to $342.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Vulcan Materials currently has an average rating of “Moderate Buy” and an average target price of $317.58.

Check Out Our Latest Analysis on Vulcan Materials

Vulcan Materials Price Performance

VMC opened at $297.08 on Monday. The stock has a market cap of $39.25 billion, a P/E ratio of 41.49, a PEG ratio of 2.39 and a beta of 0.95. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $311.74. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average of $294.63 and a 200 day moving average of $282.39.

Vulcan Materials (NYSE:VMC – Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The construction company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.72 by $0.12. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the firm posted $2.22 EPS. The firm’s revenue was up 14.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Monday, November 10th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.7%. Vulcan Materials’s dividend payout ratio (DPR) is 23.28%.

Insider Activity at Vulcan Materials

In related news, President Thompson S. Baker II sold 4,853 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $295.63, for a total value of $1,434,692.39. Following the completion of the sale, the president owned 41,485 shares in the company, valued at approximately $12,264,210.55. The trade was a 10.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David P. Clement sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $288.55, for a total value of $577,100.00. Following the transaction, the senior vice president owned 832 shares in the company, valued at $240,073.60. The trade was a 70.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,369 shares of company stock valued at $3,920,556 in the last ninety days. Insiders own 0.62% of the company’s stock.

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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