Jupiter Topco LLC Invests $6.70 Million in Vulcan Materials Company $VMC

Jupiter Topco LLC acquired a new stake in shares of Vulcan Materials Company (NYSE:VMC) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 22,707 shares of the construction company’s stock, valued at approximately $6,697,000.

A number of other hedge funds also recently made changes to their positions in the stock. Atria Investments Inc raised its holdings in shares of Vulcan Materials by 54.1% during the 4th quarter. Atria Investments Inc now owns 12,334 shares of the construction company’s stock valued at $3,518,000 after buying an additional 4,331 shares in the last quarter. SCS Capital Management LLC purchased a new stake in Vulcan Materials in the second quarter worth approximately $19,628,000. BlackRock Inc. bought a new position in Vulcan Materials during the second quarter valued at approximately $2,868,444,000. Westfield Capital Management Co. LP grew its position in Vulcan Materials by 7.4% during the fourth quarter. Westfield Capital Management Co. LP now owns 254,044 shares of the construction company’s stock valued at $72,459,000 after acquiring an additional 17,488 shares during the last quarter. Finally, Palmer Knight Co purchased a new position in shares of Vulcan Materials during the second quarter worth approximately $9,458,000. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Stock Performance

NYSE:VMC opened at $275.11 on Monday. The firm has a market cap of $35.65 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. Vulcan Materials Company has a fifty-two week low of $252.35 and a fifty-two week high of $331.09. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.20 and a current ratio of 1.76. The business has a 50 day moving average price of $286.74 and a 200-day moving average price of $285.99.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, July 29th. The construction company reported $2.59 EPS for the quarter, topping the consensus estimate of $2.46 by $0.13. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the firm earned $2.42 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts predict that Vulcan Materials Company will post 9.29 earnings per share for the current year.

Vulcan Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a 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 Activity

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

Analyst Ratings Changes

VMC has been the subject of a number of recent research reports. DA Davidson began coverage on shares of Vulcan Materials in a report on Tuesday, August 25th. They issued a “buy” rating and a $330.00 price objective for the company. Wall Street Zen raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vulcan Materials in a research report on Tuesday, July 7th. Raymond James Financial restated an “outperform” rating on shares of Vulcan Materials in a research report on Wednesday, July 15th. Finally, UBS Group reduced their price objective on Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Vulcan Materials has a consensus rating of “Moderate Buy” and an average target price of $328.64.

Vulcan Materials Company Profile

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.