Vulcan Materials Company (VMC) Shares Bought by New York State Common Retirement Fund
New York State Common Retirement Fund lifted its stake in Vulcan Materials Company (NYSE:VMC) by 38.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 404,291 shares of the construction company’s stock after purchasing an additional 113,190 shares during the quarter. New York State Common Retirement Fund owned about 0.31% of Vulcan Materials worth $51,216,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in VMC. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Vulcan Materials in the 1st quarter valued at approximately $105,000. NN Investment Partners Holdings N.V. raised its position in shares of Vulcan Materials by 25.2% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 994 shares of the construction company’s stock valued at $126,000 after purchasing an additional 200 shares during the last quarter. Korea Investment CORP raised its position in shares of Vulcan Materials by 140.5% in the 2nd quarter. Korea Investment CORP now owns 1,229 shares of the construction company’s stock valued at $156,000 after purchasing an additional 718 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Vulcan Materials in the 2nd quarter valued at approximately $187,000. Finally, NEXT Financial Group Inc raised its position in shares of Vulcan Materials by 6.9% in the 2nd quarter. NEXT Financial Group Inc now owns 1,600 shares of the construction company’s stock valued at $203,000 after purchasing an additional 103 shares during the last quarter. 87.13% of the stock is owned by hedge funds and other institutional investors.
In other Vulcan Materials news, insider Michael R. Mills sold 981 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $117.55, for a total value of $115,316.55. Following the completion of the sale, the insider now owns 23,871 shares in the company, valued at $2,806,036.05. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider David B. Pasley sold 1,250 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $121.51, for a total value of $151,887.50. Following the completion of the sale, the insider now owns 2,857 shares of the company’s stock, valued at approximately $347,154.07. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.
Several brokerages recently commented on VMC. Zacks Investment Research lowered shares of Vulcan Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $154.00 price objective on shares of Vulcan Materials in a research report on Monday, June 19th. Jefferies Group LLC set a $114.00 price objective on shares of Vulcan Materials and gave the company a “hold” rating in a research report on Tuesday, August 22nd. BidaskClub lowered shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Stephens raised shares of Vulcan Materials from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $140.00 to $145.00 in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $136.00.
Vulcan Materials Company (VMC) opened at 117.00 on Friday. The firm’s 50-day moving average is $117.19 and its 200-day moving average is $122.24. Vulcan Materials Company has a 52-week low of $105.71 and a 52-week high of $138.18. The stock has a market capitalization of $15.48 billion, a price-to-earnings ratio of 37.67 and a beta of 0.94.
Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.32). Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. Vulcan Materials’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts predict that Vulcan Materials Company will post $3.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Wednesday, August 23rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Monday, August 21st. Vulcan Materials’s dividend payout ratio is currently 32.36%.
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Vulcan Materials Company 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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