Sumitomo Life Insurance Co. Takes $11.43 Million Position in Vulcan Materials Company $VMC

Sumitomo Life Insurance Co. bought a new position in shares of Vulcan Materials Company (NYSE:VMC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 38,751 shares of the construction company’s stock, valued at approximately $11,432,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in VMC. Brighton Jones LLC bought a new stake in Vulcan Materials during the 4th quarter worth approximately $497,000. NewEdge Advisors LLC raised its position in Vulcan Materials by 3.9% in the 1st quarter. NewEdge Advisors LLC now owns 4,359 shares of the construction company’s stock valued at $1,017,000 after buying an additional 163 shares during the last quarter. Empowered Funds LLC raised its position in Vulcan Materials by 6.3% in the 1st quarter. Empowered Funds LLC now owns 3,195 shares of the construction company’s stock valued at $745,000 after buying an additional 190 shares during the last quarter. Focus Partners Wealth raised its position in Vulcan Materials by 28.5% in the 1st quarter. Focus Partners Wealth now owns 3,321 shares of the construction company’s stock valued at $775,000 after buying an additional 736 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Vulcan Materials by 31.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 334 shares of the construction company’s stock valued at $78,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

VMC has been the subject of several recent analyst reports. Royal Bank Of Canada upped their target price on shares of Vulcan Materials from $293.00 to $300.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Stephens boosted their price target on shares of Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Oppenheimer began coverage on shares of Vulcan Materials in a report on Thursday, May 28th. They set a “market perform” rating on the stock. Wells Fargo & Company dropped their target price on shares of Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 8th. Finally, Stifel Nicolaus set a $333.00 target price on Vulcan Materials in a research note on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $327.93.

Vulcan Materials Trading Up 1.8%

NYSE:VMC opened at $275.48 on Friday. Vulcan Materials Company has a 12 month low of $252.35 and a 12 month high of $331.09. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $289.19 and its 200 day moving average is $287.61. The stock has a market capitalization of $35.70 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06.

Vulcan Materials (NYSE:VMC) last released its earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the business posted $2.42 earnings per share. Sell-side analysts expect that Vulcan Materials Company will post 9.29 earnings per share for the current year.

Vulcan Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, August 13th. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. Vulcan Materials’s dividend payout ratio is presently 24.56%.

Insiders Place Their Bets

In related news, SVP David P. Clement sold 2,000 shares of Vulcan Materials stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $285.10, for a total value of $570,200.00. Following the completion of the sale, the senior vice president owned 6,716 shares of the company’s stock, valued at approximately $1,914,731.60. This trade represents a 22.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.65% of the company’s stock.

Vulcan Materials Profile

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.