Elevation Point Wealth Partners LLC Takes Position in Vulcan Materials Company $VMC

Elevation Point Wealth Partners LLC 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 3,267 shares of the construction company’s stock, valued at approximately $964,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Vulcan Materials in the second quarter worth approximately $2,868,444,000. Norges Bank purchased a new position in shares of Vulcan Materials during the fourth quarter valued at approximately $383,613,000. Egerton Capital UK LLP bought a new stake in Vulcan Materials during the fourth quarter worth $273,861,000. Bank of New York Mellon Corp purchased a new stake in Vulcan Materials in the 2nd quarter valued at $213,960,000. Finally, Deutsche Bank AG purchased a new stake in Vulcan Materials in the 2nd quarter valued at $208,673,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on VMC shares. Raymond James Financial reaffirmed an “outperform” rating on shares of Vulcan Materials in a report on Wednesday, July 15th. Stephens raised their price target on shares of Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Stifel Nicolaus set a $333.00 price target on shares of Vulcan Materials in a report on Thursday, April 30th. Royal Bank Of Canada upped their price objective on shares of Vulcan Materials from $293.00 to $300.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company decreased their price objective on shares of Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and an average target price of $327.93.

Vulcan Materials Trading Down 0.1%

Shares of Vulcan Materials stock opened at $275.87 on Tuesday. The firm has a market cap of $35.75 billion, a PE ratio of 32.57, a P/E/G ratio of 1.99 and a beta of 1.06. The stock has a fifty day moving average price of $288.85 and a 200-day moving average price of $287.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20. Vulcan Materials Company has a 1 year low of $252.35 and a 1 year high of $331.09.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data 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 net margin of 13.75% and a return on equity of 13.05%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.42 earnings per share. Equities research analysts anticipate that Vulcan Materials Company will post 9.29 EPS for the current year.

Vulcan Materials Dividend Announcement

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

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 2,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $285.10, for a total transaction of $570,200.00. Following the sale, the senior vice president directly owned 6,716 shares of the company’s stock, valued at $1,914,731.60. This represents a 22.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.65% of the company’s stock.

Vulcan Materials Company 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.