Stephens Inc. AR lessened its stake in Vulcan Materials (NYSE:VMC) by 3.3% during the second quarter, Holdings Channel reports. The firm owned 23,607 shares of the construction company’s stock after selling 818 shares during the period. Stephens Inc. AR’s holdings in Vulcan Materials were worth $3,241,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Vulcan Materials by 21.8% during the first quarter. BlackRock Inc. now owns 10,405,781 shares of the construction company’s stock worth $1,232,045,000 after acquiring an additional 1,864,819 shares during the period. Lazard Asset Management LLC raised its stake in shares of Vulcan Materials by 19.5% in the first quarter. Lazard Asset Management LLC now owns 4,387,024 shares of the construction company’s stock valued at $519,423,000 after buying an additional 714,979 shares during the period. Egerton Capital UK LLP raised its stake in shares of Vulcan Materials by 45.3% in the first quarter. Egerton Capital UK LLP now owns 4,236,189 shares of the construction company’s stock valued at $501,565,000 after buying an additional 1,320,882 shares during the period. Principal Financial Group Inc. raised its stake in shares of Vulcan Materials by 11.1% in the first quarter. Principal Financial Group Inc. now owns 3,635,702 shares of the construction company’s stock valued at $430,467,000 after buying an additional 364,675 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of Vulcan Materials by 10.0% in the first quarter. Janus Henderson Group PLC now owns 3,044,728 shares of the construction company’s stock valued at $360,494,000 after buying an additional 277,666 shares during the period. Institutional investors own 95.84% of the company’s stock.
VMC has been the topic of several research reports. Royal Bank of Canada set a $142.00 target price on Vulcan Materials and gave the company a “buy” rating in a research note on Friday, July 26th. DA Davidson boosted their target price on Vulcan Materials to $150.00 and gave the company a “neutral” rating in a research note on Thursday, June 6th. They noted that the move was a valuation call. Barclays restated a “buy” rating and issued a $140.00 target price on shares of Vulcan Materials in a research note on Monday, July 15th. Zacks Investment Research upgraded Vulcan Materials from a “hold” rating to a “buy” rating and set a $144.00 target price on the stock in a research note on Thursday, May 9th. Finally, Argus set a $152.00 target price on Vulcan Materials and gave the company a “buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $135.44.
In other news, insider Michael R. Mills sold 1,326 shares of Vulcan Materials stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $136.05, for a total value of $180,402.30. Following the completion of the transaction, the insider now directly owns 51,713 shares in the company, valued at $7,035,553.65. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Randy L. Pigg sold 1,754 shares of Vulcan Materials stock in a transaction on Monday, June 10th. The shares were sold at an average price of $134.96, for a total value of $236,719.84. Following the completion of the transaction, the vice president now owns 3,034 shares of the company’s stock, valued at $409,468.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,287 shares of company stock valued at $1,260,033. 0.79% of the stock is owned by company insiders.
Shares of NYSE VMC traded up $2.87 during mid-day trading on Friday, hitting $141.73. The company had a trading volume of 653,600 shares, compared to its average volume of 1,059,937. The company has a market capitalization of $18.41 billion, a price-to-earnings ratio of 35.00, a P/E/G ratio of 1.64 and a beta of 0.93. Vulcan Materials has a 1 year low of $82.52 and a 1 year high of $142.04. The company has a current ratio of 1.89, a quick ratio of 1.23 and a debt-to-equity ratio of 0.59. The stock’s 50-day moving average price is $137.72 and its 200-day moving average price is $125.11.
Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Thursday, July 25th. The construction company reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.03. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Vulcan Materials had a return on equity of 11.07% and a net margin of 12.12%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 earnings per share. As a group, equities research analysts forecast that Vulcan Materials will post 4.85 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Wednesday, August 21st will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, August 20th. Vulcan Materials’s dividend payout ratio (DPR) is presently 30.62%.
Vulcan Materials Profile
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.
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