Vulcan Materials Company $VMC Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in Vulcan Materials Company (NYSE:VMC) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,895,644 shares of the construction company’s stock after buying an additional 195,982 shares during the quarter. Vanguard Group Inc. owned approximately 12.79% of Vulcan Materials worth $4,406,722,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in VMC. Jones Financial Companies Lllp boosted its holdings in Vulcan Materials by 11,723.8% in the first quarter. Jones Financial Companies Lllp now owns 425,538 shares of the construction company’s stock valued at $99,278,000 after purchasing an additional 421,939 shares during the period. JPMorgan Chase & Co. raised its position in Vulcan Materials by 5.6% in the 1st quarter. JPMorgan Chase & Co. now owns 6,967,777 shares of the construction company’s stock valued at $1,625,583,000 after purchasing an additional 370,434 shares in the last quarter. Nuveen LLC purchased a new position in shares of Vulcan Materials in the 1st quarter valued at about $82,659,000. National Bank of Canada FI boosted its stake in shares of Vulcan Materials by 310.6% in the 1st quarter. National Bank of Canada FI now owns 299,954 shares of the construction company’s stock valued at $69,979,000 after buying an additional 226,908 shares during the period. Finally, Panagora Asset Management Inc. grew its position in shares of Vulcan Materials by 341.3% during the first quarter. Panagora Asset Management Inc. now owns 274,275 shares of the construction company’s stock worth $63,988,000 after buying an additional 212,129 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP David P. Clement sold 698 shares of the stock in a transaction that occurred 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 completion of 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Thompson S. Baker II sold 4,853 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $295.63, for a total transaction of $1,434,692.39. Following the transaction, the president owned 41,485 shares in the company, valued at approximately $12,264,210.55. This trade represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 11,369 shares of company stock valued at $3,343,456. 0.61% of the stock is owned by company insiders.

Vulcan Materials Price Performance

Shares of VMC opened at $284.32 on Thursday. 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 1-year low of $215.08 and a 1-year high of $311.74. The stock has a market cap of $37.57 billion, a PE ratio of 39.71, a price-to-earnings-growth ratio of 2.39 and a beta of 0.95. The firm has a fifty day moving average price of $295.22 and a 200 day moving average price of $281.17.

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

Vulcan Materials Announces Dividend

The company 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 $0.49 dividend. 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 currently 23.28%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Citigroup reduced their target price on shares of Vulcan Materials from $356.00 to $342.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Stifel Nicolaus set a $327.00 price objective on shares of Vulcan Materials in a research report on Monday, November 3rd. Barclays raised their price objective on shares of Vulcan Materials from $305.00 to $320.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Morgan Stanley lowered their target price on shares of Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating for the company in a research note on Monday, July 28th. Finally, Wells Fargo & Company upgraded Vulcan Materials to a “hold” rating in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $317.58.

About Vulcan Materials

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.