Public Employees Retirement System of Ohio Sells 2,808 Shares of Vulcan Materials Company (VMC)
Public Employees Retirement System of Ohio lowered its position in shares of Vulcan Materials Company (NYSE:VMC) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,855 shares of the construction company’s stock after selling 2,808 shares during the period. Public Employees Retirement System of Ohio’s holdings in Vulcan Materials were worth $7,329,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in VMC. Teachers Advisors LLC increased its stake in shares of Vulcan Materials by 5.7% during the first quarter. Teachers Advisors LLC now owns 156,790 shares of the construction company’s stock worth $18,890,000 after purchasing an additional 8,411 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Vulcan Materials by 38.6% during the first quarter. Oppenheimer & Co. Inc. now owns 2,791 shares of the construction company’s stock worth $336,000 after purchasing an additional 777 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Vulcan Materials during the first quarter worth approximately $341,000. Highbridge Capital Management LLC increased its stake in shares of Vulcan Materials by 186.6% during the first quarter. Highbridge Capital Management LLC now owns 71,652 shares of the construction company’s stock worth $8,633,000 after purchasing an additional 46,652 shares during the period. Finally, BlueCrest Capital Management Ltd increased its stake in shares of Vulcan Materials by 6.5% during the first quarter. BlueCrest Capital Management Ltd now owns 67,958 shares of the construction company’s stock worth $8,188,000 after purchasing an additional 4,158 shares during the period. Institutional investors own 87.10% of the company’s stock.
Vulcan Materials Company (VMC) opened at 121.61 on Friday. Vulcan Materials Company has a 1-year low of $108.95 and a 1-year high of $138.18. The firm’s 50-day moving average price is $118.09 and its 200-day moving average price is $122.38. The company has a market cap of $16.09 billion, a price-to-earnings ratio of 39.15 and a beta of 0.87.
Vulcan Materials (NYSE:VMC) last posted its earnings results on Wednesday, August 2nd. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.32). The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. Equities research analysts forecast that Vulcan Materials Company will post $3.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.82%. Vulcan Materials’s dividend payout ratio is currently 32.36%.
VMC has been the topic of a number of recent research reports. Bank of America Corporation lowered their target price on Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating on the stock in a research note on Thursday. BidaskClub lowered Vulcan Materials from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Stephens upgraded Vulcan Materials from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $140.00 to $145.00 in a research note on Thursday, August 3rd. Jefferies Group LLC reiterated a “hold” rating and set a $122.00 target price on shares of Vulcan Materials in a research note on Friday, October 13th. Finally, Zacks Investment Research lowered Vulcan Materials from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Vulcan Materials currently has a consensus rating of “Hold” and a consensus price target of $137.57.
In other Vulcan Materials news, insider Michael R. Mills sold 981 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $117.55, for a total transaction of $115,316.55. Following the sale, the insider now owns 23,871 shares in the company, valued at $2,806,036.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David B. Pasley sold 1,250 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $121.51, for a total value of $151,887.50. Following the sale, the insider now owns 2,857 shares in the company, valued at approximately $347,154.07. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.
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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