Harvey Capital Management Inc. Sells 1,475 Shares of Vulcan Materials (NYSE:VMC)

Harvey Capital Management Inc. lessened its stake in Vulcan Materials (NYSE:VMC) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,795 shares of the construction company’s stock after selling 1,475 shares during the period. Vulcan Materials comprises 1.6% of Harvey Capital Management Inc.’s portfolio, making the stock its 24th biggest holding. Harvey Capital Management Inc.’s holdings in Vulcan Materials were worth $3,409,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc increased its holdings in shares of Vulcan Materials by 0.3% during the third quarter. Vanguard Group Inc now owns 13,964,379 shares of the construction company’s stock worth $1,552,839,000 after buying an additional 46,860 shares in the last quarter. Morgan Stanley increased its holdings in shares of Vulcan Materials by 5.0% in the third quarter. Morgan Stanley now owns 6,423,074 shares of the construction company’s stock valued at $714,246,000 after purchasing an additional 303,986 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Vulcan Materials by 17.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,107,631 shares of the construction company’s stock valued at $405,835,000 after purchasing an additional 608,504 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Vulcan Materials by 20.6% in the fourth quarter. Principal Financial Group Inc. now owns 3,271,027 shares of the construction company’s stock valued at $323,178,000 after purchasing an additional 557,792 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Vulcan Materials by 4.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,360,187 shares of the construction company’s stock valued at $233,186,000 after purchasing an additional 98,900 shares in the last quarter. Institutional investors and hedge funds own 96.67% of the company’s stock.

Shares of NYSE:VMC opened at $128.41 on Friday. Vulcan Materials has a 12 month low of $82.52 and a 12 month high of $133.59. The company has a current ratio of 1.64, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61. The firm has a market cap of $17.14 billion, a P/E ratio of 31.71, a P/E/G ratio of 1.85 and a beta of 0.94.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.13. Vulcan Materials had a net margin of 11.63% and a return on equity of 10.60%. The business had revenue of $996.50 million for the quarter, compared to analyst estimates of $915.68 million. During the same period last year, the business posted $0.44 earnings per share. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. Research analysts predict that Vulcan Materials will post 4.75 earnings per share for the current fiscal year.

In other Vulcan Materials news, insider David P. Clement sold 2,789 shares of Vulcan Materials stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $114.28, for a total value of $318,726.92. Following the sale, the insider now directly owns 4,340 shares in the company, 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 link. 0.79% of the stock is currently owned by insiders.

VMC has been the subject of a number of research reports. TheStreet raised shares of Vulcan Materials from a “c+” rating to a “b-” rating in a report on Friday, February 1st. Berenberg Bank initiated coverage on shares of Vulcan Materials in a report on Wednesday, April 3rd. They issued a “hold” rating and a $115.00 price target for the company. Goldman Sachs Group raised shares of Vulcan Materials from a “buy” rating to a “conviction-buy” rating in a report on Wednesday, March 6th. Deutsche Bank raised their price objective on shares of Vulcan Materials to $125.00 and gave the company a “buy” rating in a research note on Friday, February 15th. Finally, Jefferies Financial Group raised their price objective on shares of Vulcan Materials to $133.00 and gave the company a “buy” rating in a research note on Friday, February 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Vulcan Materials currently has an average rating of “Buy” and an average price target of $124.15.

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About Vulcan Materials

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

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