State of Alaska Department of Revenue reduced its holdings in Vulcan Materials (NYSE:VMC) by 5.4% in the 1st quarter, HoldingsChannel reports. The fund owned 21,795 shares of the construction company’s stock after selling 1,244 shares during the period. State of Alaska Department of Revenue’s holdings in Vulcan Materials were worth $2,579,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Somerset Trust Co purchased a new stake in Vulcan Materials in the 1st quarter worth about $44,000. New England Research & Management Inc. purchased a new stake in Vulcan Materials in the 1st quarter worth about $1,172,000. Deutsche Bank AG lifted its stake in Vulcan Materials by 1.2% in the 4th quarter. Deutsche Bank AG now owns 292,684 shares of the construction company’s stock worth $28,910,000 after acquiring an additional 3,512 shares in the last quarter. American Century Companies Inc. lifted its stake in Vulcan Materials by 141.4% in the 4th quarter. American Century Companies Inc. now owns 749,289 shares of the construction company’s stock worth $74,030,000 after acquiring an additional 438,906 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Vulcan Materials during the 4th quarter worth about $91,820,000. 95.81% of the stock is owned by hedge funds and other institutional investors.
Shares of VMC stock opened at $122.11 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. Vulcan Materials has a twelve month low of $82.52 and a twelve month high of $133.59. The company has a market capitalization of $16.13 billion, a P/E ratio of 30.15, a P/E/G ratio of 1.76 and a beta of 0.93.
In related news, insider David P. Clement sold 2,789 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $114.28, for a total value of $318,726.92. Following the transaction, the insider now directly owns 4,340 shares of the company’s stock, valued at approximately $495,975.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.79% of the stock is currently owned by company insiders.
VMC has been the subject of a number of recent research reports. Zacks Investment Research raised Vulcan Materials from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 18th. Deutsche Bank initiated coverage on Vulcan Materials in a research note on Thursday, January 3rd. They set a “buy” rating and a $116.00 price target for the company. Citigroup cut their price target on Vulcan Materials from $128.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, January 4th. TheStreet raised Vulcan Materials from a “c+” rating to a “b-” rating in a research note on Friday, February 1st. Finally, Jefferies Financial Group raised their price target on Vulcan Materials to $133.00 and gave the stock a “buy” rating in a research note on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $123.31.
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Vulcan Materials Company Profile
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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