Global X Management Co. LLC raised its holdings in shares of Vulcan Materials (NYSE:VMC) by 35.2% in the 4th quarter, Holdings Channel reports. The firm owned 9,761 shares of the construction company’s stock after buying an additional 2,539 shares during the quarter. Global X Management Co. LLC’s holdings in Vulcan Materials were worth $1,253,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in VMC. WINTON GROUP Ltd bought a new position in Vulcan Materials during the second quarter valued at $218,000. Lord Abbett & CO. LLC raised its stake in shares of Vulcan Materials by 10.4% in the second quarter. Lord Abbett & CO. LLC now owns 74,160 shares of the construction company’s stock valued at $9,395,000 after acquiring an additional 6,994 shares during the period. Shell Asset Management Co. raised its stake in shares of Vulcan Materials by 162.7% in the third quarter. Shell Asset Management Co. now owns 22,200 shares of the construction company’s stock valued at $1,337,000 after acquiring an additional 13,748 shares during the period. Oakbrook Investments LLC raised its stake in shares of Vulcan Materials by 26.0% in the third quarter. Oakbrook Investments LLC now owns 12,110 shares of the construction company’s stock valued at $1,448,000 after acquiring an additional 2,500 shares during the period. Finally, APG Asset Management N.V. raised its stake in shares of Vulcan Materials by 3.6% in the third quarter. APG Asset Management N.V. now owns 201,223 shares of the construction company’s stock valued at $24,066,000 after acquiring an additional 7,000 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.
Several brokerages have recently weighed in on VMC. Zacks Investment Research raised shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Wednesday, February 14th. Barclays began coverage on shares of Vulcan Materials in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $135.00 target price on the stock. Jefferies Group reissued a “hold” rating and issued a $135.00 target price on shares of Vulcan Materials in a research note on Wednesday, January 17th. Bank of America increased their target price on shares of Vulcan Materials from $129.00 to $139.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Finally, Citigroup increased their target price on shares of Vulcan Materials from $144.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Vulcan Materials presently has an average rating of “Buy” and a consensus price target of $146.00.
In related news, insider Michael R. Mills sold 3,738 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $134.56, for a total value of $502,985.28. Following the transaction, the insider now owns 44,581 shares of the company’s stock, valued at approximately $5,998,819.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael R. Mills sold 4,659 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $133.25, for a total transaction of $620,811.75. Following the completion of the transaction, the insider now directly owns 45,351 shares in the company, valued at approximately $6,043,020.75. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.
Vulcan Materials (NYSE VMC) opened at $126.57 on Monday. The company has a market cap of $16,743.31, a PE ratio of 28.38, a P/E/G ratio of 1.77 and a beta of 0.84. Vulcan Materials has a 12 month low of $108.95 and a 12 month high of $141.20. The company has a quick ratio of 3.34, a current ratio of 4.22 and a debt-to-equity ratio of 0.60.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Friday, February 16th. The construction company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The company had revenue of $977.50 million for the quarter, compared to the consensus estimate of $929.36 million. Vulcan Materials had a net margin of 10.20% and a return on equity of 8.71%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 EPS. analysts forecast that Vulcan Materials will post 4.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, February 22nd. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.25. Vulcan Materials’s dividend payout ratio (DPR) is currently 22.42%.
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Vulcan Materials Company Profile
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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