Pinnacle Wealth Planning Services Inc. Purchases New Shares in Vulcan Materials Company $VMC

Pinnacle Wealth Planning Services Inc. acquired a new stake in Vulcan Materials Company (NYSE:VMC) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 940 shares of the construction company’s stock, valued at approximately $245,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Vulcan Materials by 2.1% in the first quarter. Vanguard Group Inc. now owns 16,699,662 shares of the construction company’s stock valued at $3,896,031,000 after acquiring an additional 347,155 shares during the period. JPMorgan Chase & Co. raised its stake 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 worth $1,625,583,000 after purchasing an additional 370,434 shares in the last quarter. Geode Capital Management LLC raised its stake in Vulcan Materials by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,491,618 shares of the construction company’s stock worth $906,961,000 after purchasing an additional 27,531 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Vulcan Materials by 7.5% in 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 grew its position in shares of 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 worth $312,236,000 after purchasing an additional 56,345 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Trading Up 0.9%

Shares of VMC opened at $284.32 on Thursday. 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 Company has a 52-week low of $215.08 and a 52-week high of $311.74. The firm has a market cap of $37.57 billion, a price-to-earnings ratio of 39.71, a PEG ratio of 2.39 and a beta of 0.95. The business’s fifty day moving average is $295.22 and its 200-day moving average is $281.17.

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

Vulcan Materials Dividend Announcement

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

Insider Activity at Vulcan Materials

In related news, SVP David P. Clement sold 698 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $298.56, for a total transaction of $208,394.88. Following the completion of the transaction, the senior vice president directly owned 2,832 shares in the company, valued at $845,521.92. This represents a 19.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Thompson S. Baker II sold 4,853 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $295.63, for a total transaction of $1,434,692.39. Following the completion of the transaction, the president directly owned 41,485 shares of the company’s stock, valued at approximately $12,264,210.55. The trade was a 10.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,369 shares of company stock worth $3,343,456 over the last ninety days. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on VMC shares. Raymond James Financial increased their price target on Vulcan Materials from $295.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Stifel Nicolaus set a $327.00 target price on Vulcan Materials in a research report on Monday, November 3rd. Wells Fargo & Company upgraded Vulcan Materials to a “hold” rating in a research report on Wednesday, October 8th. Morgan Stanley dropped their price target on 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, JPMorgan Chase & Co. increased their price objective on shares of Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Two research 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $317.58.

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.