Mizuho Asset Management Co. Ltd. Boosts Position in Vulcan Materials Co. (VMC)
Mizuho Asset Management Co. Ltd. boosted its position in shares of Vulcan Materials Co. (NYSE:VMC) by 147.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,850 shares of the company’s stock after buying an additional 1,102 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in Vulcan Materials were worth $223,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Vulcan Materials by 50.7% in the second quarter. JPMorgan Chase & Co. now owns 6,193,149 shares of the company’s stock valued at $745,409,000 after buying an additional 2,083,983 shares during the last quarter. Norges Bank bought a new stake in shares of Vulcan Materials during the fourth quarter valued at $93,376,000. American Century Companies Inc. increased its stake in shares of Vulcan Materials by 3,591.2% in the second quarter. American Century Companies Inc. now owns 597,944 shares of the company’s stock valued at $71,969,000 after buying an additional 581,745 shares during the last quarter. Capital Growth Management LP bought a new stake in shares of Vulcan Materials during the first quarter valued at $56,480,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Vulcan Materials by 16.2% in the second quarter. Bank of New York Mellon Corp now owns 3,202,344 shares of the company’s stock valued at $385,433,000 after buying an additional 445,558 shares during the last quarter. 86.73% of the stock is owned by hedge funds and other institutional investors.
Vulcan Materials Co. (NYSE:VMC) traded down 0.56% during trading on Tuesday, hitting $106.95. The stock had a trading volume of 162,300 shares. The stock has a 50-day moving average price of $115.62 and a 200-day moving average price of $114.19. Vulcan Materials Co. has a 52 week low of $78.83 and a 52 week high of $127.20. The company has a market cap of $14.23 billion, a PE ratio of 40.81 and a beta of 1.36.
Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.10. The business earned $956.80 million during the quarter, compared to analyst estimates of $1.01 billion. Vulcan Materials had a net margin of 9.85% and a return on equity of 8.74%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 earnings per share. Equities analysts predict that Vulcan Materials Co. will post $3.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 24th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Monday, August 22nd. Vulcan Materials’s dividend payout ratio is currently 30.65%.
Several research analysts recently commented on VMC shares. Alembic Global Advisors started coverage on Vulcan Materials in a research note on Thursday, June 9th. They issued a “neutral” rating and a $125.00 price target on the stock. Goldman Sachs Group Inc. cut Vulcan Materials from a “conviction-buy” rating to a “buy” rating and boosted their price target for the stock from $128.00 to $146.00 in a research note on Wednesday, June 8th. Jefferies Group reiterated a “hold” rating on shares of Vulcan Materials in a research note on Wednesday, August 31st. Royal Bank Of Canada boosted their price target on Vulcan Materials from $127.00 to $140.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 12th. Finally, Bank of America Corp. reiterated a “buy” rating on shares of Vulcan Materials in a research note on Friday, June 17th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $128.22.
In related news, insider David J. Grayson sold 2,025 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $118.77, for a total value of $240,509.25. Following the completion of the sale, the insider now owns 18,637 shares in the company, valued at $2,213,516.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David B. Pasley sold 280 shares of the stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $117.55, for a total transaction of $32,914.00. Following the completion of the sale, the insider now owns 2,470 shares of the company’s stock, valued at approximately $290,348.50. The disclosure for this sale can be found here. 0.92% of the stock is owned by insiders.
Vulcan Materials Company Profile
Vulcan Materials Company is a producer of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company has four segments organized around its principal product lines: Aggregates, Asphalt Mix, Concrete and Calcium. The Company operates approximately 344 aggregates facilities.
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