Chemical Bank Continues to Hold Position in Vulcan Materials Company (VMC)
Chemical Bank maintained its stake in Vulcan Materials Company (NYSE:VMC) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,516 shares of the construction company’s stock at the end of the 2nd quarter. Chemical Bank’s holdings in Vulcan Materials were worth $572,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Gilder Gagnon Howe & Co. LLC bought a new stake in Vulcan Materials during the first quarter worth approximately $105,000. NN Investment Partners Holdings N.V. boosted its position in Vulcan Materials by 25.2% during the second quarter. NN Investment Partners Holdings N.V. now owns 994 shares of the construction company’s stock worth $126,000 after purchasing an additional 200 shares during the period. Korea Investment CORP boosted its position in Vulcan Materials by 140.5% during the second quarter. Korea Investment CORP now owns 1,229 shares of the construction company’s stock worth $156,000 after purchasing an additional 718 shares during the period. Schroder Investment Management Group bought a new stake in Vulcan Materials during the second quarter worth approximately $187,000. Finally, NEXT Financial Group Inc boosted its position in Vulcan Materials by 405.7% during the first quarter. NEXT Financial Group Inc now owns 1,497 shares of the construction company’s stock worth $181,000 after purchasing an additional 1,201 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on VMC. BidaskClub raised Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Argus upped their target price on Vulcan Materials from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, June 9th. Zacks Investment Research raised Vulcan Materials from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Tuesday, June 20th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $154.00 target price on shares of Vulcan Materials in a research report on Monday, June 19th. Finally, Stephens raised Vulcan Materials from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $140.00 to $145.00 in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $136.00.
Shares of Vulcan Materials Company (NYSE VMC) opened at 114.35 on Friday. The stock has a 50 day moving average price of $117.97 and a 200 day moving average price of $122.38. The company has a market capitalization of $15.13 billion, a PE ratio of 36.82 and a beta of 0.94. Vulcan Materials Company has a 52-week low of $105.71 and a 52-week high of $138.18.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.32). The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. On average, analysts predict that Vulcan Materials Company will post $3.40 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Wednesday, August 23rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 21st. This represents a $1.00 annualized dividend and a yield of 0.87%. Vulcan Materials’s dividend payout ratio is presently 32.36%.
In other news, insider David B. Pasley sold 1,250 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $121.51, for a total transaction of $151,887.50. Following the completion of the transaction, the insider now owns 2,857 shares of the company’s stock, valued at approximately $347,154.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is owned by insiders.
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Vulcan Materials Profile
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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