Cohen Klingenstein LLC Sells 9,500 Shares of Vulcan Materials (NYSE:VMC)

Cohen Klingenstein LLC lessened its holdings in Vulcan Materials (NYSE:VMC) by 30.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 21,768 shares of the construction company’s stock after selling 9,500 shares during the period. Cohen Klingenstein LLC’s holdings in Vulcan Materials were worth $5,599,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Vulcan Materials in the third quarter worth approximately $30,000. Concord Wealth Partners bought a new position in shares of Vulcan Materials in the 3rd quarter worth $35,000. Washington Trust Advisors Inc. boosted its position in Vulcan Materials by 240.4% during the third quarter. Washington Trust Advisors Inc. now owns 160 shares of the construction company’s stock valued at $40,000 after purchasing an additional 113 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Vulcan Materials in the third quarter valued at about $42,000. Finally, Asset Dedication LLC boosted its holdings in shares of Vulcan Materials by 146.5% in the 3rd quarter. Asset Dedication LLC now owns 175 shares of the construction company’s stock valued at $44,000 after buying an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Trading Up 0.4 %

NYSE VMC opened at $270.28 on Friday. The company has a fifty day moving average of $272.63 and a 200 day moving average of $258.76. The company has a market capitalization of $35.69 billion, a PE ratio of 42.63, a P/E/G ratio of 1.97 and a beta of 0.83. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02. Vulcan Materials has a 1 year low of $219.73 and a 1 year high of $298.31.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.12). The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 earnings per share. Research analysts forecast that Vulcan Materials will post 7.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VMC. Truist Financial upped their price target on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on Vulcan Materials from $245.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Raymond James cut their price objective on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday. UBS Group started coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $349.00 target price on the stock. Finally, Stephens restated an “overweight” rating and set a $325.00 price target on shares of Vulcan Materials in a research note on Thursday, January 2nd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.18.

Vulcan Materials Company 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.