Terra Nova Asset Management LLC Has $1,429,000 Stake in Vulcan Materials Co. (VMC)
Terra Nova Asset Management LLC lowered its position in Vulcan Materials Co. (NYSE:VMC) by 12.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,872 shares of the company’s stock after selling 1,730 shares during the period. Vulcan Materials makes up approximately 2.4% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 12th largest position. Terra Nova Asset Management LLC’s holdings in Vulcan Materials were worth $1,429,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Financial Architects Inc raised its stake in shares of Vulcan Materials by 1,268.9% in the second quarter. Financial Architects Inc now owns 1,013 shares of the company’s stock valued at $122,000 after buying an additional 939 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Vulcan Materials by 14.1% in the first quarter. IFP Advisors Inc now owns 1,847 shares of the company’s stock valued at $195,000 after buying an additional 228 shares in the last quarter. Marietta Investment Partners LLC acquired a new stake in shares of Vulcan Materials during the first quarter valued at approximately $204,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Vulcan Materials during the first quarter valued at approximately $211,000. Finally, Oakworth Capital Inc. raised its stake in shares of Vulcan Materials by 2.8% in the second quarter. Oakworth Capital Inc. now owns 1,862 shares of the company’s stock valued at $217,000 after buying an additional 50 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.
Shares of Vulcan Materials Co. (NYSE:VMC) traded up 2.67% during midday trading on Wednesday, reaching $109.96. The company’s stock had a trading volume of 1,196,955 shares. The company has a 50 day moving average of $115.17 and a 200-day moving average of $114.20. The stock has a market capitalization of $14.63 billion, a price-to-earnings ratio of 41.95 and a beta of 1.36. Vulcan Materials Co. has a 52 week low of $78.83 and a 52 week high of $127.20.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.90 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 return on equity of 8.74% and a net margin of 9.85%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 EPS. Equities research analysts predict that Vulcan Materials Co. will post $3.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 24th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.73%. Vulcan Materials’s dividend payout ratio (DPR) is currently 30.65%.
Several analysts have recently commented on VMC shares. Zacks Investment Research upgraded Vulcan Materials from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a report on Wednesday, June 29th. Bank of America Corp. reiterated a “buy” rating on shares of Vulcan Materials in a report on Friday, June 17th. Goldman Sachs Group Inc. lowered Vulcan Materials from a “conviction-buy” rating to a “buy” rating and increased their price objective for the company from $128.00 to $146.00 in a report on Wednesday, June 8th. Argus reiterated a “buy” rating and set a $129.00 price objective on shares of Vulcan Materials in a report on Wednesday, August 3rd. Finally, Jefferies Group reiterated a “hold” rating on shares of Vulcan Materials in a report on Wednesday, August 31st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $128.22.
In other news, insider David B. Pasley sold 280 shares of Vulcan Materials stock in a transaction on 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 directly owns 2,470 shares of the company’s stock, valued at approximately $290,348.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David J. Grayson sold 2,025 shares of Vulcan Materials stock in a transaction on Friday, August 5th. The stock was sold at an average price of $118.77, for a total transaction of $240,509.25. Following the sale, the insider now directly owns 18,637 shares of the company’s stock, valued at $2,213,516.49. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.
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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