Pallas Capital Advisors LLC Buys Shares of 2,337 Vulcan Materials Company $VMC

Pallas Capital Advisors LLC bought a new stake in Vulcan Materials Company (NYSE:VMC) in the second quarter, Holdings Channel.com reports. The institutional investor bought 2,337 shares of the construction company’s stock, valued at approximately $689,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Chesapeake Capital Corp IL raised its position in Vulcan Materials by 0.9% during the fourth quarter. Chesapeake Capital Corp IL now owns 3,712 shares of the construction company’s stock valued at $1,059,000 after buying an additional 33 shares during the period. Composition Wealth LLC boosted its position in Vulcan Materials by 3.5% during the 4th quarter. Composition Wealth LLC now owns 1,014 shares of the construction company’s stock worth $289,000 after acquiring an additional 34 shares during the period. Truist Financial Corp boosted its position in Vulcan Materials by 0.3% during the 4th quarter. Truist Financial Corp now owns 13,331 shares of the construction company’s stock worth $3,802,000 after acquiring an additional 38 shares during the period. United Capital Financial Advisors LLC grew its stake in Vulcan Materials by 1.2% during the 3rd quarter. United Capital Financial Advisors LLC now owns 3,095 shares of the construction company’s stock valued at $952,000 after acquiring an additional 38 shares in the last quarter. Finally, 4WEALTH Advisors Inc. grew its stake in Vulcan Materials by 3.2% during the 1st quarter. 4WEALTH Advisors Inc. now owns 1,261 shares of the construction company’s stock valued at $337,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Insiders Place Their Bets

In related news, SVP David P. Clement sold 2,000 shares of the business’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.65% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

VMC has been the subject of a number of research analyst reports. UBS Group reduced their price target 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. Wall Street Zen downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Stephens lifted their target price 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. Citigroup decreased their target price on shares of Vulcan Materials from $355.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada boosted their price target on shares of Vulcan Materials from $293.00 to $300.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $327.93.

Vulcan Materials Trading Up 1.8%

Vulcan Materials stock opened at $276.49 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.20 and a current ratio of 1.76. The business’s 50-day simple moving average is $289.60 and its 200-day simple moving average is $287.91. The firm has a market capitalization of $35.83 billion, a PE ratio of 32.64, a PEG ratio of 1.96 and a beta of 1.06. Vulcan Materials Company has a 52 week low of $252.35 and a 52 week 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 for the quarter, beating the consensus estimate of $2.46 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.Vulcan Materials’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.42 earnings per share. Equities research analysts forecast that Vulcan Materials Company will post 9.29 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors 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 (DPR) is 24.56%.

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.