Grassi Investment Management lifted its stake in Vulcan Materials (NYSE:VMC) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,500 shares of the construction company’s stock after purchasing an additional 1,895 shares during the quarter. Grassi Investment Management’s holdings in Vulcan Materials were worth $5,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of VMC. Diversified Trust Co raised its holdings in shares of Vulcan Materials by 0.3% during the second quarter. Diversified Trust Co now owns 31,565 shares of the construction company’s stock valued at $3,657,000 after purchasing an additional 90 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Vulcan Materials by 1.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 6,033 shares of the construction company’s stock worth $869,000 after buying an additional 94 shares during the period. Louisiana State Employees Retirement System lifted its stake in Vulcan Materials by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 5,700 shares of the construction company’s stock worth $660,000 after purchasing an additional 100 shares in the last quarter. Synovus Financial Corp grew its stake in shares of Vulcan Materials by 0.4% in the 1st quarter. Synovus Financial Corp now owns 23,863 shares of the construction company’s stock worth $2,578,000 after buying an additional 104 shares in the last quarter. Finally, Pennsylvania Capital Management Inc. ADV increased its position in Vulcan Materials by 0.4% during the first quarter. Pennsylvania Capital Management Inc. ADV now owns 26,333 shares of the construction company’s stock valued at $2,612,000 after acquiring an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.
Shares of NYSE:VMC opened at $120.83 on Wednesday. Vulcan Materials has a 52 week low of $65.56 and a 52 week high of $152.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.69 and a current ratio of 2.68. The company has a market capitalization of $15.73 billion, a PE ratio of 26.21, a PEG ratio of 3.07 and a beta of 0.81. The company has a 50 day moving average price of $116.63 and a two-hundred day moving average price of $120.06.
Vulcan Materials (NYSE:VMC) last announced its earnings results on Wednesday, May 6th. The construction company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.04. Vulcan Materials had a return on equity of 11.38% and a net margin of 12.34%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm earned $0.46 EPS. Vulcan Materials’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that Vulcan Materials will post 4.3 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.13%. Vulcan Materials’s dividend payout ratio (DPR) is currently 28.94%.
VMC has been the subject of a number of analyst reports. Royal Bank of Canada upped their target price on Vulcan Materials from $117.00 to $137.00 and gave the stock an “outperform” rating in a report on Wednesday, June 17th. Exane BNP Paribas upgraded Vulcan Materials from an “underperform” rating to a “neutral” rating and set a $122.00 price target for the company in a research note on Tuesday, June 16th. Deutsche Bank decreased their price target on shares of Vulcan Materials from $166.00 to $124.00 and set a “hold” rating on the stock in a research note on Wednesday, March 25th. JPMorgan Chase & Co. decreased their price target on Vulcan Materials from $160.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Finally, Argus cut their price target on shares of Vulcan Materials from $152.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $134.25.
Vulcan Materials Company 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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