Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in Vulcan Materials Company $VMC

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Vulcan Materials Company (NYSE:VMC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 314,804 shares of the construction company’s stock, valued at approximately $92,870,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.24% of Vulcan Materials at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Vulcan Materials by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,576,172 shares of the construction company’s stock valued at $1,016,168,000 after purchasing an additional 32,012 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Vulcan Materials by 6.1% in the 2nd quarter. Bank of America Corp DE now owns 2,309,444 shares of the construction company’s stock valued at $602,349,000 after buying an additional 133,523 shares during the period. Morgan Stanley grew its position in shares of Vulcan Materials by 7.9% during the 4th quarter. Morgan Stanley now owns 1,727,232 shares of the construction company’s stock valued at $492,642,000 after buying an additional 126,523 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Vulcan Materials by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,346,422 shares of the construction company’s stock worth $366,592,000 after acquiring an additional 24,187 shares during the period. Finally, Norges Bank acquired a new stake in Vulcan Materials during the fourth quarter worth about $383,613,000. 90.39% of the stock is currently owned by institutional investors.

Vulcan Materials Stock Down 2.2%

VMC stock opened at $272.14 on Wednesday. Vulcan Materials Company has a 52-week low of $252.35 and a 52-week high of $331.09. The company’s 50 day simple moving average is $289.55 and its 200-day simple moving average is $288.07. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20. The firm has a market capitalization of $35.26 billion, a P/E ratio of 32.13, a P/E/G ratio of 2.03 and a beta of 1.06.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.13. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the business posted $2.42 EPS. The company’s revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that Vulcan Materials Company will post 9.29 EPS for the current year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 13th. Vulcan Materials’s dividend payout ratio (DPR) is 24.56%.

Insider Buying and Selling at Vulcan Materials

In other news, SVP David P. Clement sold 2,212 shares of Vulcan Materials stock in a transaction on Monday, June 15th. The stock was sold at an average price of $292.29, for a total transaction of $646,545.48. Following the transaction, the senior vice president owned 8,716 shares in the company, valued at approximately $2,547,599.64. The trade was a 20.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Stephens raised their price target on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Wall Street Zen cut shares of Vulcan Materials from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Berenberg Bank set a $283.00 target price on Vulcan Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Barclays lifted their price target on shares of Vulcan Materials from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, UBS Group decreased their target price on Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $327.93.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.