Raymond James & Associates Sells 18,336 Shares of Vulcan Materials (NYSE:VMC)

Raymond James & Associates lessened its stake in Vulcan Materials (NYSE:VMC) by 8.5% in the first quarter, HoldingsChannel reports. The firm owned 196,560 shares of the construction company’s stock after selling 18,336 shares during the period. Raymond James & Associates’ holdings in Vulcan Materials were worth $53,645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in VMC. Register Financial Advisors LLC bought a new stake in shares of Vulcan Materials during the 1st quarter valued at $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Vulcan Materials during the 1st quarter valued at $33,000. Exchange Traded Concepts LLC bought a new stake in shares of Vulcan Materials during the 4th quarter valued at $28,000. Private Wealth Management Group LLC bought a new stake in shares of Vulcan Materials during the 4th quarter valued at $45,000. Finally, Trust Co. of Vermont grew its position in shares of Vulcan Materials by 144.0% during the 4th quarter. Trust Co. of Vermont now owns 244 shares of the construction company’s stock valued at $55,000 after acquiring an additional 144 shares during the period. Institutional investors own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and set a $270.00 price objective (up previously from $245.00) on shares of Vulcan Materials in a research report on Friday, March 22nd. Royal Bank of Canada lifted their target price on shares of Vulcan Materials from $269.00 to $272.00 and gave the company a “sector perform” rating in a research note on Friday. Morgan Stanley began coverage on shares of Vulcan Materials in a research note on Monday, January 8th. They set an “equal weight” rating and a $208.00 target price on the stock. Jefferies Financial Group lifted their target price on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Raymond James lifted their target price on shares of Vulcan Materials from $225.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.08.

Insider Transactions at Vulcan Materials

In other news, SVP Denson N. Franklin III sold 3,200 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total value of $862,336.00. Following the sale, the senior vice president now directly owns 5,395 shares in the company, valued at approximately $1,453,844.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Denson N. Franklin III sold 3,200 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total transaction of $862,336.00. Following the transaction, the senior vice president now directly owns 5,395 shares in the company, valued at approximately $1,453,844.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stanley G. Bass sold 8,310 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $251.68, for a total transaction of $2,091,460.80. Following the transaction, the insider now owns 29,311 shares in the company, valued at $7,376,992.48. The disclosure for this sale can be found here. Insiders have sold a total of 13,017 shares of company stock worth $3,344,741 in the last three months. Insiders own 0.62% of the company’s stock.

Vulcan Materials Price Performance

VMC stock traded up $0.03 during mid-day trading on Friday, hitting $264.44. The company had a trading volume of 809,401 shares, compared to its average volume of 699,108. The company has a market capitalization of $34.98 billion, a price-to-earnings ratio of 38.60, a P/E/G ratio of 1.98 and a beta of 0.83. Vulcan Materials has a 12-month low of $187.20 and a 12-month high of $276.58. The company has a quick ratio of 2.39, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $265.53 and a 200 day moving average price of $236.46.

Vulcan Materials (NYSE:VMC) last announced 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 company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, research analysts anticipate that Vulcan Materials will post 8.45 earnings per share for the current year.

Vulcan Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were issued a $0.46 dividend. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.70%. Vulcan Materials’s payout ratio is 26.86%.

Vulcan Materials 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.