Millennium Management LLC lifted its stake in Vulcan Materials (NYSE:VMC) by 256.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,013,853 shares of the construction company’s stock after purchasing an additional 729,757 shares during the quarter. Millennium Management LLC owned 0.77% of Vulcan Materials worth $130,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of VMC. Raymond James Financial Services Advisors Inc. raised its position in Vulcan Materials by 21.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 45,012 shares of the construction company’s stock valued at $5,384,000 after acquiring an additional 8,048 shares in the last quarter. State of Wisconsin Investment Board raised its position in Vulcan Materials by 4.2% during the third quarter. State of Wisconsin Investment Board now owns 109,785 shares of the construction company’s stock valued at $13,130,000 after acquiring an additional 4,426 shares in the last quarter. Prudential Financial Inc. raised its position in Vulcan Materials by 1.2% during the third quarter. Prudential Financial Inc. now owns 192,089 shares of the construction company’s stock valued at $22,974,000 after acquiring an additional 2,187 shares in the last quarter. Global X MANAGEMENT CO LLC raised its position in Vulcan Materials by 20.9% during the third quarter. Global X MANAGEMENT CO LLC now owns 7,222 shares of the construction company’s stock valued at $864,000 after acquiring an additional 1,247 shares in the last quarter. Finally, Sei Investments Co. raised its position in Vulcan Materials by 27.8% during the third quarter. Sei Investments Co. now owns 72,418 shares of the construction company’s stock valued at $8,662,000 after acquiring an additional 15,741 shares in the last quarter. 92.23% of the stock is owned by institutional investors and hedge funds.
In other Vulcan Materials news, insider Michael R. Mills sold 3,738 shares of Vulcan Materials stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $134.56, for a total transaction of $502,985.28. Following the sale, the insider now owns 44,581 shares in the company, valued at $5,998,819.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.89% of the stock is owned by insiders.
NYSE:VMC opened at $113.56 on Friday. The company has a market capitalization of $15,157.31, a PE ratio of 37.36, a PEG ratio of 1.25 and a beta of 0.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.66. Vulcan Materials has a 12 month low of $109.96 and a 12 month high of $141.20.
Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Friday, February 16th. The construction company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. The business 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 15.45% and a return on equity of 8.68%. Vulcan Materials’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $0.69 earnings per share. analysts predict that Vulcan Materials will post 4.37 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.12 dividend on an annualized basis and a yield of 0.99%. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.25. Vulcan Materials’s payout ratio is currently 36.84%.
Several equities analysts recently weighed in on VMC shares. Citigroup reaffirmed a “buy” rating and set a $144.00 price objective on shares of Vulcan Materials in a research report on Tuesday, December 26th. SunTrust Banks set a $145.00 price objective on shares of Vulcan Materials and gave the company a “buy” rating in a research report on Saturday, December 16th. Zacks Investment Research raised shares of Vulcan Materials from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Bank of America raised their price objective on shares of Vulcan Materials from $129.00 to $139.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Finally, Barclays started coverage on shares of Vulcan Materials in a research report on Tuesday, December 12th. They set an “overweight” rating and a $135.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $145.11.
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Vulcan Materials 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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