Summit Partners Public Asset Management Lowers stake in Vulcan Materials Company (VMC)

Vulcan Materials Company (VMC) : Summit Partners Public Asset Management reduced its stake in Vulcan Materials Company by 21.43% during the most recent quarter end. The investment management company now holds a total of 55,000 shares of Vulcan Materials Company which is valued at $6,540,600 after selling 15,000 shares in Vulcan Materials Company , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Vulcan Materials Company makes up approximately 2.24% of Summit Partners Public Asset Management’s portfolio.

Other Hedge Funds, Including , Susquehanna International Group Llp sold out all of its stake in VMC during the most recent quarter. The investment firm sold 2,624 shares of VMC which is valued $312,046.Waterfront Capital Partners reduced its stake in VMC by selling 16,536 shares or 9.96% in the most recent quarter. The Hedge Fund company now holds 149,464 shares of VMC which is valued at $17,774,259. Vulcan Materials Company makes up approx 2.72% of Waterfront Capital Partners’s portfolio.Citadel Advisors reduced its stake in VMC by selling 531,746 shares or 41.64% in the most recent quarter. The Hedge Fund company now holds 745,229 shares of VMC which is valued at $88,622,633. Vulcan Materials Company makes up approx 0.23% of Citadel Advisors’s portfolio.Gratry Co reduced its stake in VMC by selling 60 shares or 2.4% in the most recent quarter. The Hedge Fund company now holds 2,435 shares of VMC which is valued at $289,570. Vulcan Materials Company makes up approx 0.22% of Gratry Co’s portfolio.

Vulcan Materials Company closed down -1.49 points or -1.31% at $112.38 with 19,19,288 shares getting traded on Thursday. Post opening the session at $113.32, the shares hit an intraday low of $110.68 and an intraday high of $113.32 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Vulcan Materials Company reported $0.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Aug 1, 2016. Analyst had a consensus of $1.01. The company had revenue of $956.80 million for the quarter, compared to analysts expectations of $1020.57 million. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.

Many Wall Street Analysts have commented on Vulcan Materials Company. Company shares were Reiterated by RBC Capital Mkts on Jul 12, 2016 to “Outperform”, Firm has raised the Price Target to $ 140 from a previous price target of $127 .Alembic Global Advisors Initiated Vulcan Materials Company on Jun 9, 2016 to “Neutral”, Price Target of the shares are set at $125.

Vulcan Materials Company is a producer of construction aggregates (primarily crushed stone sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates 335 aggregates facilities. The Company has four segments organized around its principal product lines: Aggregates Concrete Asphalt Mix and Calcium. The Aggregates segment produces and sells aggregates (crushed stone sand and gravel sand and other aggregates) and related products and services (transportation and other). The Company produces and sells ready-mixed concrete in Georgia Maryland New Mexico Texas Virginia Washington D.C. and the Bahamas. The Company produces and sells asphalt mix in Arizona California New Mexico and Texas. The Company’s Calcium segment operates a quarry at Brooksville Florida which provides feedstock for the ground calcium operation.

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