Corient Private Wealth LP Invests $10.40 Million in Vulcan Materials Company $VMC

Corient Private Wealth LP acquired a new position in Vulcan Materials Company (NYSE:VMC) during the second quarter, Holdings Channel reports. The firm acquired 35,240 shares of the construction company’s stock, valued at approximately $10,396,000.

Several other large investors also recently added to or reduced their stakes in VMC. BlackRock Inc. purchased a new position in Vulcan Materials during the second quarter worth about $2,868,444,000. Geode Capital Management LLC raised its holdings in shares of Vulcan Materials by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 3,576,172 shares of the construction company’s stock valued at $1,016,168,000 after acquiring an additional 32,012 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Vulcan Materials during the 2nd quarter valued at about $688,580,000. Morgan Stanley boosted 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 acquiring an additional 126,523 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Vulcan Materials during the second quarter worth about $451,119,000. Institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on VMC shares. Oppenheimer started coverage on shares of Vulcan Materials in a research report on Thursday, May 28th. They issued a “market perform” rating on the stock. Berenberg Bank set a $283.00 target price on shares of Vulcan Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. Citigroup cut their price target on shares of Vulcan Materials from $355.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. UBS Group decreased their price target on shares of Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Finally, Raymond James Financial restated an “outperform” rating on shares of Vulcan Materials in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $328.64.

Insider Activity at Vulcan Materials

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

Vulcan Materials Price Performance

VMC opened at $275.11 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $35.65 billion, a P/E ratio of 32.48, a PEG ratio of 1.98 and a beta of 1.06. The stock has a 50-day moving average price of $286.74 and a 200-day moving average price of $286.28. Vulcan Materials Company has a 12-month low of $252.35 and a 12-month high of $331.09.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.Vulcan Materials’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $2.42 EPS. Equities analysts predict that Vulcan Materials Company will post 9.29 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

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

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.