Mackenzie Financial Corp Lowers Holdings in Vulcan Materials (NYSE:VMC)

Posted by on Jul 12th, 2023

Mackenzie Financial Corp reduced its holdings in shares of Vulcan Materials (NYSE:VMC – Free Report) by 0.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,551 shares of the construction company’s stock after selling 95 shares during the period. Mackenzie Financial Corp owned about 0.07% of Vulcan Materials worth $16,736,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Vulcan Materials by 1.3% in the first quarter. Vanguard Group Inc. now owns 14,535,907 shares of the construction company’s stock valued at $2,670,246,000 after purchasing an additional 184,543 shares during the period. Principal Financial Group Inc. grew its position in shares of Vulcan Materials by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 4,556,716 shares of the construction company’s stock worth $797,927,000 after buying an additional 32,826 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Vulcan Materials by 5.4% during the fourth quarter. JPMorgan Chase & Co. now owns 4,096,865 shares of the construction company’s stock worth $717,401,000 after buying an additional 211,244 shares during the period. Clearbridge Investments LLC raised its holdings in Vulcan Materials by 4.1% in the fourth quarter. Clearbridge Investments LLC now owns 2,904,292 shares of the construction company’s stock valued at $508,571,000 after acquiring an additional 114,857 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Vulcan Materials by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 2,805,266 shares of the construction company’s stock worth $490,365,000 after acquiring an additional 65,017 shares during the last quarter. 89.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Vulcan Materials

In related news, SVP David P. Clement sold 2,389 shares of Vulcan Materials stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $196.00, for a total transaction of $468,244.00. Following the completion of the transaction, the senior vice president now directly owns 2,887 shares of the company’s stock, valued at $565,852. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP David P. Clement sold 2,389 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $196.00, for a total transaction of $468,244.00. Following the completion of the transaction, the senior vice president now directly owns 2,887 shares of the company’s stock, valued at approximately $565,852. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Randy L. Pigg sold 560 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $202.44, for a total value of $113,366.40. Following the sale, the vice president now owns 1,707 shares in the company, valued at approximately $345,565.08. The disclosure for this sale can be found here. Insiders have sold 7,644 shares of company stock valued at $1,529,014 in the last quarter. 0.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group raised shares of Vulcan Materials from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $188.00 to $212.00 in a research report on Monday, April 3rd. StockNews.com started coverage on Vulcan Materials in a research report on Thursday, May 18th. They set a “hold” rating for the company. DA Davidson raised their target price on Vulcan Materials from $212.00 to $225.00 in a research report on Wednesday, May 10th. JPMorgan Chase & Co. downgraded Vulcan Materials from an “overweight” rating to a “neutral” rating and upped their price target for the company from $215.00 to $230.00 in a report on Thursday, July 6th. Finally, Morgan Stanley cut their price objective on shares of Vulcan Materials from $191.00 to $186.00 and set an “equal weight” rating on the stock in a report on Thursday, April 20th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $209.33.

Vulcan Materials Stock Performance

NYSE VMC opened at $223.61 on Wednesday. The business’s 50-day moving average price is $204.99 and its 200 day moving average price is $186.09. The company has a quick ratio of 1.59, a current ratio of 2.37 and a debt-to-equity ratio of 0.55. The firm has a market cap of $29.75 billion, a P/E ratio of 49.47, a P/E/G ratio of 1.62 and a beta of 0.76. Vulcan Materials has a 52-week low of $142.53 and a 52-week high of $225.93.

Vulcan Materials (NYSE:VMC – Get Free Report) last announced its earnings results on Thursday, May 4th. The construction company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.31. Vulcan Materials had a return on equity of 10.36% and a net margin of 8.14%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the business posted $0.73 EPS. The company’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts expect that Vulcan Materials will post 6.45 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Friday, May 26th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, May 25th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.77%. Vulcan Materials’s payout ratio is 38.05%.

Vulcan Materials Company Profile

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

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