Strs Ohio Has $66,836,000 Stake in Vulcan Materials Co. (VMC)
Strs Ohio boosted its stake in shares of Vulcan Materials Co. (NYSE:VMC) by 27.8% during the second quarter, Holdings Channel reports. The firm owned 555,309 shares of the company’s stock after buying an additional 120,726 shares during the period. Strs Ohio’s holdings in Vulcan Materials were worth $66,836,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of VMC. Norges Bank purchased a new stake in shares of Vulcan Materials during the fourth quarter valued at about $93,376,000. Caledonia Private Investments Pty Ltd increased its stake in shares of Vulcan Materials by 19.3% in the first quarter. Caledonia Private Investments Pty Ltd now owns 753,253 shares of the company’s stock valued at $79,521,000 after buying an additional 121,944 shares during the period. New York State Teachers Retirement System increased its stake in shares of Vulcan Materials by 0.8% in the second quarter. New York State Teachers Retirement System now owns 230,609 shares of the company’s stock valued at $27,756,000 after buying an additional 1,901 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in shares of Vulcan Materials by 51.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 296,158 shares of the company’s stock valued at $31,265,000 after buying an additional 100,300 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Vulcan Materials by 2.1% in the first quarter. Geode Capital Management LLC now owns 1,078,909 shares of the company’s stock valued at $113,670,000 after buying an additional 22,325 shares during the period. Institutional investors and hedge funds own 86.73% of the company’s stock.
Vulcan Materials Co. (NYSE:VMC) traded down 0.42% during midday trading on Tuesday, hitting $107.10. 921,377 shares of the stock were exchanged. The firm has a market capitalization of $14.25 billion, a P/E ratio of 40.86 and a beta of 1.36. Vulcan Materials Co. has a 1-year low of $78.83 and a 1-year high of $127.20. The firm’s 50-day moving average price is $115.36 and its 200 day moving average price is $114.23.
Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.10. Vulcan Materials had a return on equity of 8.74% and a net margin of 9.85%. The firm earned $956.80 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts expect that Vulcan Materials Co. will post $3.42 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 24th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Monday, August 22nd. Vulcan Materials’s payout ratio is 30.65%.
VMC has been the subject of several recent analyst reports. Royal Bank Of Canada raised their target price on shares of Vulcan Materials from $127.00 to $140.00 and gave the company an “outperform” rating in a research note on Tuesday, July 12th. Zacks Investment Research downgraded shares of Vulcan Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Jefferies Group restated a “hold” rating on shares of Vulcan Materials in a research report on Wednesday, August 31st. Alembic Global Advisors initiated coverage on shares of Vulcan Materials in a research report on Thursday, June 9th. They set a “neutral” rating and a $125.00 price objective for the company. Finally, Goldman Sachs Group Inc. downgraded shares of Vulcan Materials from a “conviction-buy” rating to a “buy” rating and raised their price objective for the stock from $128.00 to $146.00 in a research report on Wednesday, June 8th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $128.22.
In other Vulcan Materials news, insider David B. Pasley sold 280 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $117.55, for a total value of $32,914.00. Following the completion of the sale, the insider now directly owns 2,470 shares of the company’s stock, valued at approximately $290,348.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stanley G. Bass sold 829 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $121.07, for a total transaction of $100,367.03. Following the completion of the sale, the insider now directly owns 15,185 shares of the company’s stock, valued at $1,838,447.95. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by company insiders.
About Vulcan Materials
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.
Want to see what other hedge funds are holding VMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vulcan Materials Co. (NYSE:VMC).
Receive News & Ratings for Vulcan Materials Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vulcan Materials Co. and related companies with MarketBeat.com's FREE daily email newsletter.