Wedbush Securities Inc. Boosts Stock Position in Vulcan Materials Company $VMC

Wedbush Securities Inc. increased its holdings in Vulcan Materials Company (NYSE:VMC) by 63.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,915 shares of the construction company’s stock after purchasing an additional 744 shares during the quarter. Wedbush Securities Inc.’s holdings in Vulcan Materials were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Partners LLC grew its position in shares of Vulcan Materials by 86.3% in the 2nd quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock worth $25,000 after buying an additional 44 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Vulcan Materials in the second quarter worth $32,000. Concord Wealth Partners purchased a new stake in Vulcan Materials in the second quarter worth $33,000. Manchester Capital Management LLC boosted its holdings in Vulcan Materials by 26.9% in the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company’s stock valued at $43,000 after acquiring an additional 39 shares in the last quarter. Finally, Steph & Co. purchased a new position in Vulcan Materials during the 2nd quarter valued at $55,000. Institutional investors own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

VMC has been the subject of several research analyst reports. Citigroup dropped their target price on shares of Vulcan Materials from $356.00 to $342.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Barclays increased their price target on shares of Vulcan Materials from $305.00 to $320.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Wells Fargo & Company raised Vulcan Materials to a “hold” rating in a research report on Wednesday, October 8th. Morgan Stanley reduced their target price on Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating on the stock in a report on Monday, July 28th. Finally, Royal Bank Of Canada lowered their target price on Vulcan Materials from $279.00 to $278.00 and set a “sector perform” rating for the company in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $317.58.

Vulcan Materials Trading Up 0.6%

NYSE:VMC opened at $294.65 on Wednesday. The firm has a market capitalization of $38.93 billion, a P/E ratio of 41.15, a PEG ratio of 2.39 and a beta of 0.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13. Vulcan Materials Company has a one year low of $215.08 and a one year high of $311.74. The company’s 50-day simple moving average is $296.33 and its 200 day simple moving average is $280.19.

Vulcan Materials (NYSE:VMC) last released its earnings results on Thursday, October 30th. The construction company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.12. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the business earned $2.22 earnings per share. The business’s revenue was up 14.4% on a year-over-year basis. As a group, analysts forecast that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Monday, November 10th will be paid a dividend of $0.49 per share. The ex-dividend date is Monday, November 10th. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. Vulcan Materials’s payout ratio is presently 23.28%.

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 698 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $298.56, for a total value of $208,394.88. Following the sale, the senior vice president directly owned 2,832 shares of the company’s stock, valued at approximately $845,521.92. This represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Thompson S. Baker II sold 5,818 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $292.26, for a total value of $1,700,368.68. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.62% of the company’s stock.

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.