Wellington Management Group LLP Acquires 2,994 Shares of Vulcan Materials Company $VMC

Wellington Management Group LLP boosted its stake in Vulcan Materials Company (NYSE:VMC) by 89.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,333 shares of the construction company’s stock after purchasing an additional 2,994 shares during the period. Wellington Management Group LLP’s holdings in Vulcan Materials were worth $1,868,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Beacon Pointe Advisors LLC bought a new position in Vulcan Materials in the second quarter worth approximately $389,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Vulcan Materials in the 2nd quarter worth $201,000. Rakuten Investment Management Inc. purchased a new stake in shares of Vulcan Materials in the 2nd quarter worth $6,460,000. Glenview Trust Co bought a new position in Vulcan Materials in the 2nd quarter worth $416,000. Finally, Empowered Funds LLC bought a new position in Vulcan Materials in the 2nd quarter worth $3,574,000. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

Shares of NYSE VMC opened at $250.95 on Friday. 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 company has a market cap of $32.52 billion, a P/E ratio of 29.63, a P/E/G ratio of 2.25 and a beta of 1.05. The firm’s fifty day moving average is $278.83 and its two-hundred day moving average is $282.48. Vulcan Materials Company has a 52-week low of $246.20 and a 52-week high of $331.09.

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

Vulcan Materials Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on VMC shares. Wells Fargo & Company cut Vulcan Materials from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $305.00 to $254.00 in a research report on Wednesday. DA Davidson assumed coverage on shares of Vulcan Materials in a report on Tuesday, August 25th. They issued a “buy” rating and a $330.00 target price for the company. Oppenheimer began coverage on shares of Vulcan Materials in a research note on Thursday, May 28th. They set a “market perform” rating on the stock. Wall Street Zen upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Vulcan Materials in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Vulcan Materials presently has an average rating of “Hold” and a consensus target price of $325.00.

Insiders Place Their Bets

In related news, SVP David Clement sold 2,212 shares of Vulcan Materials 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. The trade was a 20.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J. Hill sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $276.17, for a total value of $3,866,380.00. Following the transaction, the director directly owned 58,209 shares in the company, valued at approximately $16,075,579.53. This represents a 19.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 18,212 shares of company stock worth $5,083,125 in the last quarter. Company insiders own 0.65% of the company’s stock.

Vulcan Materials Profile

Vulcan Materials Company (NYSE:VMC) is a major U.S. producer and supplier of construction materials. The company’s primary business is aggregates, including crushed stone, sand and gravel, which are used in roads, bridges, buildings and other infrastructure projects.

Vulcan also produces and distributes asphalt and ready-mixed concrete, as well as calcium products used in construction, industrial and other applications. Its products are sold to public-sector customers, contractors, commercial developers and other businesses involved in construction and infrastructure development.

Founded in 1909 and headquartered in Birmingham, Alabama, Vulcan Materials has expanded through organic growth and acquisitions to operate production facilities, distribution terminals and related assets across much of the United States.