LMR Partners LLP Boosts Stake in Vulcan Materials Co. (VMC)
LMR Partners LLP increased its stake in shares of Vulcan Materials Co. (NYSE:VMC) by 193.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,941 shares of the company’s stock after buying an additional 11,168 shares during the period. LMR Partners LLP’s holdings in Vulcan Materials were worth $2,039,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of VMC. Financial Architects Inc increased its stake in 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 increased its position 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 worth $195,000 after buying an additional 228 shares during the period. Marietta Investment Partners LLC acquired a new position in shares of Vulcan Materials during the first quarter worth approximately $204,000. Stone Ridge Asset Management LLC acquired a new position in shares of Vulcan Materials during the first quarter worth approximately $211,000. Finally, Oakworth Capital Inc. increased its position 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 worth $217,000 after buying an additional 50 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 1.76% during midday trading on Thursday, hitting $111.28. 1,420,488 shares of the stock were exchanged. The company has a market cap of $14.81 billion, a PE ratio of 42.46 and a beta of 1.19. The stock has a 50 day moving average price of $113.29 and a 200-day moving average price of $114.86. Vulcan Materials Co. has a 12 month low of $78.83 and a 12 month high of $127.20.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.10. The company had revenue of $956.80 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.35 EPS. On average, analysts predict that Vulcan Materials Co. will post $3.28 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors 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 dividend on an annualized basis and a dividend yield of 0.72%. Vulcan Materials’s payout ratio is currently 30.65%.
A number of equities analysts recently commented on the stock. Bank of America Corp. reissued a “buy” rating on shares of Vulcan Materials in a research note on Friday, June 17th. Zacks Investment Research raised shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a research note on Wednesday, June 29th. Argus reissued a “buy” rating and issued a $129.00 price objective on shares of Vulcan Materials in a research note on Wednesday, August 3rd. Alembic Global Advisors assumed coverage on shares of Vulcan Materials in a research note on Thursday, June 9th. They issued 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 boosted their price objective for the stock from $128.00 to $146.00 in a research note on Wednesday, June 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Vulcan Materials currently has an average rating of “Buy” and a consensus target price of $128.22.
In other Vulcan Materials news, insider David J. Grayson sold 2,025 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 18,637 shares of the company’s stock, valued at approximately $2,213,516.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stanley G. Bass sold 829 shares of the firm’s 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 of the company’s stock, valued at approximately $1,838,447.95. The disclosure for this sale can be found here. Corporate 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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