Equitable Holdings Inc. Makes New Investment in Vulcan Materials Company $VMC

Equitable Holdings Inc. acquired a new position in Vulcan Materials Company (NYSE:VMC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,629 shares of the construction company’s stock, valued at approximately $776,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Burkett Financial Services LLC purchased a new stake in Vulcan Materials during the 2nd quarter valued at $25,000. Meeder Asset Management Inc. increased its holdings in Vulcan Materials by 71.7% in the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock worth $28,000 after buying an additional 43 shares in the last quarter. Birchwood Financial Partners Inc. purchased a new position in Vulcan Materials in the 4th quarter worth about $29,000. Measured Wealth Private Client Group LLC purchased a new position in Vulcan Materials in the 3rd quarter worth about $30,000. Finally, Reflection Asset Management bought a new position in Vulcan Materials during the 4th quarter valued at about $37,000. 90.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VMC has been the subject of several research reports. Citigroup decreased their price objective on shares of Vulcan Materials from $355.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, July 30th. UBS Group cut their target price on shares of Vulcan Materials from $350.00 to $349.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. DA Davidson started coverage on shares of Vulcan Materials in a research note on Tuesday, August 25th. They set a “buy” rating and a $330.00 target price for the company. Royal Bank Of Canada increased their price target on Vulcan Materials from $293.00 to $300.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Finally, Oppenheimer started coverage on Vulcan Materials in a research note on Thursday, May 28th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $328.64.

Vulcan Materials Stock Up 0.5%

NYSE VMC opened at $275.11 on Friday. The stock’s 50-day moving average price is $286.74 and its 200-day moving average price is $286.28. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. Vulcan Materials Company has a 52 week low of $252.35 and a 52 week high of $331.09. The company has a market capitalization of $35.65 billion, a P/E ratio of 32.48, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06.

Vulcan Materials (NYSE:VMC) last announced 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. 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 analysts’ expectations of $2.14 billion. During the same period in the prior year, the company posted $2.42 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts predict that Vulcan Materials Company will post 9.29 earnings per share for the current year.

Vulcan Materials Dividend Announcement

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

Insiders Place Their Bets

In other news, SVP David P. Clement sold 2,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $285.10, for a total value of $570,200.00. Following the sale, the senior vice president directly owned 6,716 shares in the company, valued at $1,914,731.60. The trade was a 22.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.