Palmer Knight Co Reduces Position in Vulcan Materials (NYSE:VMC)

Palmer Knight Co lessened its holdings in shares of Vulcan Materials (NYSE:VMC) by 0.4% in the 4th quarter, HoldingsChannel reports. The firm owned 24,347 shares of the construction company’s stock after selling 93 shares during the quarter. Vulcan Materials makes up approximately 3.3% of Palmer Knight Co’s holdings, making the stock its 20th largest holding. Palmer Knight Co’s holdings in Vulcan Materials were worth $5,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Stratos Wealth Partners LTD. boosted its holdings in Vulcan Materials by 1.6% in the third quarter. Stratos Wealth Partners LTD. now owns 3,248 shares of the construction company’s stock worth $656,000 after purchasing an additional 51 shares during the period. Greenleaf Trust increased its holdings in shares of Vulcan Materials by 2.7% during the 3rd quarter. Greenleaf Trust now owns 2,008 shares of the construction company’s stock worth $406,000 after acquiring an additional 52 shares during the last quarter. Stonegate Investment Group LLC lifted its position in shares of Vulcan Materials by 0.3% during the 4th quarter. Stonegate Investment Group LLC now owns 20,255 shares of the construction company’s stock valued at $4,598,000 after acquiring an additional 52 shares during the period. Signaturefd LLC increased its stake in shares of Vulcan Materials by 3.7% in the third quarter. Signaturefd LLC now owns 1,498 shares of the construction company’s stock valued at $303,000 after buying an additional 54 shares during the period. Finally, MCF Advisors LLC lifted its holdings in shares of Vulcan Materials by 22.4% in the fourth quarter. MCF Advisors LLC now owns 295 shares of the construction company’s stock valued at $67,000 after purchasing an additional 54 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VMC has been the topic of a number of research analyst reports. Royal Bank of Canada upped their target price on Vulcan Materials from $236.00 to $269.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 20th. Citigroup increased their price objective on shares of Vulcan Materials from $263.00 to $322.00 and gave the company a “buy” rating in a report on Friday, April 5th. Wolfe Research lowered shares of Vulcan Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. 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 report on Friday, March 22nd. Finally, Raymond James increased their price target on shares of Vulcan Materials from $225.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.00.

Insiders Place Their Bets

In other Vulcan Materials news, insider Stanley G. Bass sold 8,310 shares of Vulcan Materials stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $251.68, for a total transaction of $2,091,460.80. Following the completion of the sale, the insider now directly owns 29,311 shares of the company’s stock, valued at approximately $7,376,992.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $862,336.00. Following the transaction, the senior vice president now 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 the SEC website. Also, insider Stanley G. Bass sold 8,310 shares of the business’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 completion of 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. Over the last 90 days, insiders have sold 13,017 shares of company stock worth $3,344,741. 0.61% of the stock is owned by corporate insiders.

Vulcan Materials Stock Up 0.4 %

NYSE:VMC traded up $0.98 during trading hours on Monday, hitting $262.22. 280,181 shares of the company traded hands, compared to its average volume of 774,473. Vulcan Materials has a one year low of $174.17 and a one year high of $276.58. The company has a quick ratio of 2.39, a current ratio of 3.17 and a debt-to-equity ratio of 0.52. The company has a market cap of $34.68 billion, a PE ratio of 37.43, a PEG ratio of 1.89 and a beta of 0.83. The firm’s 50-day simple moving average is $264.85 and its 200-day simple moving average is $235.03.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Friday, February 16th. The construction company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.06. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.84 billion. Vulcan Materials had a return on equity of 12.80% and a net margin of 11.99%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 earnings per share. Equities analysts predict that Vulcan Materials will post 8.47 earnings per share for the current year.

Vulcan Materials Increases Dividend

The company also recently disclosed 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 a positive change 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 dividend payout ratio is currently 26.36%.

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.