Cibc World Market Inc. Acquires New Holdings in Vulcan Materials Company $VMC

Cibc World Market Inc. bought a new stake in Vulcan Materials Company (NYSE:VMC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,625 shares of the construction company’s stock, valued at approximately $2,839,000.

Several other institutional investors also recently modified their holdings of VMC. BlackRock Inc. bought a new stake in Vulcan Materials during the 2nd quarter worth $2,868,444,000. Norges Bank acquired a new stake in shares of Vulcan Materials during the fourth quarter valued at about $383,613,000. Egerton Capital UK LLP acquired a new stake in shares of Vulcan Materials during the fourth quarter valued at about $273,861,000. Bank of New York Mellon Corp bought a new stake in shares of Vulcan Materials during the second quarter worth about $213,960,000. Finally, Deutsche Bank AG bought a new stake in shares of Vulcan Materials during the second quarter worth about $208,673,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Vulcan Materials news, SVP David P. Clement sold 2,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $285.10, for a total transaction of $570,200.00. Following the completion of the sale, the senior vice president directly owned 6,716 shares in the company, 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 is accessible through this link. Company insiders own 0.65% of the company’s stock.

Vulcan Materials Price Performance

Vulcan Materials stock opened at $273.79 on Thursday. The stock’s 50 day moving average is $287.90 and its 200 day moving average is $286.71. Vulcan Materials Company has a one year low of $252.35 and a one year high of $331.09. The firm has a market cap of $35.48 billion, a P/E ratio of 32.32, a P/E/G ratio of 1.97 and a beta of 1.06. 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 (NYSE:VMC) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.13. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the business earned $2.42 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. As a group, research analysts expect that Vulcan Materials Company will post 9.29 EPS for the current year.

Vulcan Materials Dividend Announcement

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

Analysts Set New Price Targets

VMC has been the subject of a number of research reports. Wall Street Zen lowered shares of Vulcan Materials from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Raymond James Financial restated an “outperform” rating on shares of Vulcan Materials in a research 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 note on Thursday, April 30th. Stifel Nicolaus set a $333.00 price target on shares of Vulcan Materials in a report on Thursday, April 30th. Finally, DA Davidson assumed coverage on shares of Vulcan Materials in a report on Tuesday. They set a “buy” rating and a $330.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $328.64.

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.