Sippican Capital Advisors Maintains Position in Vulcan Materials Co. (VMC)
Sippican Capital Advisors maintained its stake in shares of Vulcan Materials Co. (NYSE:VMC) during the second quarter, Holdings Channel reports. The fund owned 6,000 shares of the company’s stock at the end of the second quarter. Sippican Capital Advisors’ holdings in Vulcan Materials were worth $722,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of VMC. TIAA CREF Investment Management LLC increased its stake in shares of Vulcan Materials by 0.8% in the first quarter. TIAA CREF Investment Management LLC now owns 317,822 shares of the company’s stock valued at $33,552,000 after buying an additional 2,535 shares during the period. Hyman Charles D bought a new stake in shares of Vulcan Materials during the first quarter valued at approximately $10,627,000. IFP Advisors Inc increased 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 during the period. Mn Services Vermogensbeheer B.V. bought a new stake in shares of Vulcan Materials during the first quarter valued at approximately $306,000. Finally, Aperio Group LLC increased its stake in shares of Vulcan Materials by 27.1% in the first quarter. Aperio Group LLC now owns 37,659 shares of the company’s stock valued at $3,976,000 after buying an additional 8,023 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.
Shares of Vulcan Materials Co. (NYSE:VMC) traded up 2.64% during trading on Thursday, reaching $112.86. The company’s stock had a trading volume of 1,561,251 shares. The firm’s 50-day moving average price is $115.03 and its 200-day moving average price is $114.19. Vulcan Materials Co. has a one year low of $78.83 and a one year high of $127.20. The company has a market capitalization of $15.02 billion, a price-to-earnings ratio of 43.06 and a beta of 1.36.
Vulcan Materials (NYSE:VMC) last released its 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. Vulcan Materials had a net margin of 9.85% and a return on equity of 8.74%. The business had revenue of $956.80 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business posted $0.35 earnings per share. Vulcan Materials’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts anticipate that Vulcan Materials Co. will post $3.42 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 24th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, August 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.71%. Vulcan Materials’s payout ratio is 30.65%.
Several brokerages have recently commented on VMC. Zacks Investment Research raised Vulcan Materials from a “hold” rating to a “strong-buy” rating and set a $144.00 price objective for the company in a research note on Monday, July 18th. Royal Bank Of Canada upped their target price on Vulcan Materials from $127.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday, July 12th. Alembic Global Advisors started coverage on Vulcan Materials in a report on Thursday, June 9th. They issued a “neutral” rating and a $125.00 target price for the company. Argus reaffirmed a “buy” rating and issued a $129.00 target price on shares of Vulcan Materials in a report on Wednesday, August 3rd. Finally, Goldman Sachs Group Inc. lowered Vulcan Materials from a “conviction-buy” rating to a “buy” rating and upped their target price for the company from $128.00 to $146.00 in a report on Wednesday, June 8th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $128.22.
In other news, insider Stanley G. Bass sold 829 shares of Vulcan Materials stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $121.07, for a total transaction of $100,367.03. Following the completion of the transaction, the insider now directly owns 15,185 shares in the company, valued at $1,838,447.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David B. Pasley sold 280 shares of Vulcan Materials stock in a transaction that occurred 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 transaction, the insider now owns 2,470 shares of the company’s stock, valued at $290,348.50. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.
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.
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