Narwhal Capital Management Lowers stake in Vulcan Materials Company (VMC)

Vulcan Materials Company (VMC) : Narwhal Capital Management reduced its stake in Vulcan Materials Company by 1.24% during the most recent quarter end. The investment management company now holds a total of 416,080 shares of Vulcan Materials Company which is valued at $52,284,613 after selling 5,243 shares in Vulcan Materials Company , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Vulcan Materials Company makes up approximately 15.98% of Narwhal Capital Management’s portfolio.

Other Hedge Funds, Including , Conning boosted its stake in VMC in the latest quarter, The investment management firm added 10 additional shares and now holds a total of 3,189 shares of Vulcan Materials Company which is valued at $400,730. Vulcan Materials Company makes up approx 0.02% of Conning’s portfolio.

Vulcan Materials Company closed down -2.96 points or -2.33% at $123.98 with 16,02,730 shares getting traded on Friday. Post opening the session at $126.78, the shares hit an intraday low of $123.5 and an intraday high of $126.78 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

Investors should note that on Jul 8, 2016, Vulcan Materials Company announced a cash dividend of $0.2000. The company’s management has announced Aug 22, 2016 as the ex-dividend date and fixed the record date on Aug 24, 2016. The payable date has been fixed on Sep 9, 2016.

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.Company shares were Reiterated by Stifel on May 16, 2016 to “Buy”, Firm has raised the Price Target to $ 131 from a previous price target of $123 .

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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