ARP Americas LP bought a new stake in Vulcan Materials (NYSE:VMC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,500 shares of the construction company’s stock, valued at approximately $378,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Palmer Knight Co raised its stake in shares of Vulcan Materials by 3.5% in the third quarter. Palmer Knight Co now owns 35,415 shares of the construction company’s stock valued at $5,356,000 after purchasing an additional 1,201 shares in the last quarter. Tocqueville Asset Management L.P. raised its stake in Vulcan Materials by 0.4% during the third quarter. Tocqueville Asset Management L.P. now owns 153,526 shares of the construction company’s stock worth $23,219,000 after acquiring an additional 566 shares in the last quarter. Sciencast Management LP raised its stake in Vulcan Materials by 161.7% during the third quarter. Sciencast Management LP now owns 7,200 shares of the construction company’s stock worth $1,074,000 after acquiring an additional 4,449 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in Vulcan Materials by 0.8% during the third quarter. Oppenheimer & Co. Inc. now owns 27,576 shares of the construction company’s stock worth $4,171,000 after acquiring an additional 216 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Vulcan Materials by 43.7% during the third quarter. California Public Employees Retirement System now owns 281,418 shares of the construction company’s stock worth $42,562,000 after acquiring an additional 85,595 shares in the last quarter. Institutional investors and hedge funds own 95.38% of the company’s stock.
VMC has been the subject of several recent analyst reports. BNP Paribas initiated coverage on Vulcan Materials in a research note on Wednesday, October 9th. They set an “underperform” rating for the company. ValuEngine lowered Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Wednesday. SunTrust Banks increased their price objective on Vulcan Materials from $145.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays increased their price objective on Vulcan Materials from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, September 12th. Finally, Bank of America upgraded Vulcan Materials from an “underperform” rating to a “neutral” rating and set a $157.00 price objective for the company in a research note on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $149.81.
In related news, insider Stanley G. Bass sold 2,184 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $149.93, for a total value of $327,447.12. Following the transaction, the insider now owns 35,263 shares in the company, valued at $5,286,981.59. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stanley G. Bass sold 2,406 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $141.94, for a total value of $341,507.64. Following the completion of the transaction, the insider now owns 35,263 shares in the company, valued at approximately $5,005,230.22. The disclosure for this sale can be found here. 0.79% of the stock is owned by company insiders.
Shares of VMC stock opened at $138.12 on Thursday. The stock’s fifty day moving average is $147.00 and its 200-day moving average is $137.80. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.23 and a current ratio of 1.89. The stock has a market capitalization of $19.00 billion, a PE ratio of 34.10, a PEG ratio of 1.65 and a beta of 0.91. Vulcan Materials has a 52 week low of $90.04 and a 52 week high of $152.49.
Vulcan Materials (NYSE:VMC) last announced its earnings results on Wednesday, November 6th. The construction company reported $1.68 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.02). The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. Vulcan Materials had a return on equity of 11.07% and a net margin of 12.12%. Vulcan Materials’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.40 EPS. As a group, analysts forecast that Vulcan Materials will post 4.87 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, November 19th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 0.90%. The ex-dividend date is Monday, November 18th. Vulcan Materials’s dividend payout ratio is 30.62%.
Vulcan Materials 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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