Howard Capital Management Grows Holdings in Vulcan Materials (VMC)
Howard Capital Management raised its stake in Vulcan Materials (NYSE:VMC) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 115,638 shares of the construction company’s stock after buying an additional 1,922 shares during the period. Vulcan Materials makes up about 1.7% of Howard Capital Management’s investment portfolio, making the stock its 25th biggest position. Howard Capital Management’s holdings in Vulcan Materials were worth $12,859,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in VMC. Morgan Stanley boosted its position in Vulcan Materials by 28.1% in the 2nd quarter. Morgan Stanley now owns 6,119,088 shares of the construction company’s stock valued at $789,730,000 after buying an additional 1,341,129 shares during the period. Fred Alger Management Inc. boosted its position in Vulcan Materials by 56.3% in the 2nd quarter. Fred Alger Management Inc. now owns 2,644,635 shares of the construction company’s stock valued at $341,317,000 after buying an additional 952,138 shares during the period. Millennium Management LLC boosted its position in Vulcan Materials by 210.9% in the 2nd quarter. Millennium Management LLC now owns 1,214,210 shares of the construction company’s stock valued at $156,706,000 after buying an additional 823,657 shares during the period. Principal Financial Group Inc. boosted its position in Vulcan Materials by 35.3% in the 1st quarter. Principal Financial Group Inc. now owns 2,016,741 shares of the construction company’s stock valued at $230,251,000 after buying an additional 526,595 shares during the period. Finally, Artisan Partners Limited Partnership boosted its position in Vulcan Materials by 39.2% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,054,296 shares of the construction company’s stock valued at $136,067,000 after buying an additional 296,702 shares during the period. 97.07% of the stock is owned by institutional investors.
Shares of NYSE:VMC traded down $4.64 during trading hours on Wednesday, hitting $96.26. The company’s stock had a trading volume of 147,132 shares, compared to its average volume of 1,330,194. Vulcan Materials has a 52 week low of $98.70 and a 52 week high of $141.20. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.96 and a current ratio of 1.46. The firm has a market cap of $14.71 billion, a P/E ratio of 31.59, a P/E/G ratio of 1.05 and a beta of 0.93.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Wednesday, November 21st will be issued a $0.28 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $1.12 annualized dividend and a dividend yield of 1.16%. Vulcan Materials’s dividend payout ratio is currently 36.84%.
Several equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of Vulcan Materials from a “hold” rating to a “strong sell” rating in a research report on Friday, October 12th. ValuEngine upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Argus reduced their price target on shares of Vulcan Materials to $122.00 and set a “buy” rating for the company in a report on Monday, August 20th. DA Davidson set a $118.00 price target on shares of Vulcan Materials and gave the company a “hold” rating in a report on Thursday, October 11th. Finally, Stephens set a $125.00 price target on shares of Vulcan Materials and gave the company a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $126.10.
Vulcan Materials Company Profile
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.
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