Welch Group LLC Raises Stock Position in Vulcan Materials Company $VMC

Welch Group LLC raised its stake in shares of Vulcan Materials Company (NYSE:VMC) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,990 shares of the construction company’s stock after purchasing an additional 591 shares during the quarter. Welch Group LLC’s holdings in Vulcan Materials were worth $7,300,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Vulcan Materials by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 16,699,662 shares of the construction company’s stock valued at $3,896,031,000 after purchasing an additional 347,155 shares during the period. JPMorgan Chase & Co. increased its position in Vulcan Materials by 5.6% during 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 during the period. Principal Financial Group Inc. increased its position in Vulcan Materials by 7.4% during the 1st quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company’s stock valued at $1,518,291,000 after purchasing an additional 445,691 shares during the period. Allspring Global Investments Holdings LLC increased its position in Vulcan Materials by 7.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,872,652 shares of the construction company’s stock valued at $495,635,000 after purchasing an additional 130,949 shares during the period. Finally, Alkeon Capital Management LLC increased its position in Vulcan Materials by 4.4% during the 1st quarter. Alkeon Capital Management LLC now owns 1,338,346 shares of the construction company’s stock valued at $312,236,000 after purchasing an additional 56,345 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Stock Performance

Shares of VMC stock opened at $301.48 on Monday. Vulcan Materials Company has a one year low of $215.08 and a one year high of $309.17. The company’s 50-day moving average is $294.29 and its 200 day moving average is $271.33. The company has a market capitalization of $39.83 billion, a price-to-earnings ratio of 42.11, a price-to-earnings-growth ratio of 2.46 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.45 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.20). Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period last year, the company posted $2.35 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Sell-side analysts expect that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Monday, November 10th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, November 10th. Vulcan Materials’s dividend payout ratio is 27.37%.

Analyst Ratings Changes

A number of research firms have recently weighed in on VMC. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vulcan Materials in a research report on Wednesday, October 8th. Morgan Stanley reduced their target price on shares of Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Monday, July 28th. Wells Fargo & Company raised shares of Vulcan Materials to a “hold” rating in a research report on Wednesday, October 8th. Barclays upped their target price on shares of Vulcan Materials from $285.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Vulcan Materials from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $308.58.

Insider Buying and Selling

In related news, SVP David P. Clement sold 698 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $298.56, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.61% of the company’s stock.

Vulcan Materials 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.