Meiji Yasuda Asset Management Co Ltd. Purchases Shares of 12,831 Vulcan Materials Company $VMC

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Vulcan Materials Company (NYSE:VMC) in the second quarter, HoldingsChannel reports. The institutional investor purchased 12,831 shares of the construction company’s stock, valued at approximately $3,785,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Haverford Trust Co bought a new position in shares of Vulcan Materials in the second quarter worth approximately $230,000. Bank of Nova Scotia bought a new stake in Vulcan Materials during the second quarter valued at approximately $9,368,000. Elevation Point Wealth Partners LLC bought a new stake in Vulcan Materials during the second quarter valued at approximately $964,000. Daiichi Life Insurance Co. Ltd. purchased a new position in Vulcan Materials in the 2nd quarter worth approximately $1,961,000. Finally, Commerce Bank bought a new position in shares of Vulcan Materials in the 2nd quarter worth $1,620,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insider Buying and Selling

In other news, SVP David P. Clement sold 2,212 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $292.29, for a total value of $646,545.48. Following the completion of the sale, the senior vice president directly owned 8,716 shares of the company’s stock, valued at approximately $2,547,599.64. This trade represents a 20.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VMC. Stifel Nicolaus set a $333.00 price objective on shares of Vulcan Materials in a report on Thursday, April 30th. UBS Group reduced their target price on Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Wall Street Zen downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Stephens lifted their price target on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Citigroup cut their price objective on Vulcan Materials from $355.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Vulcan Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $327.93.

Vulcan Materials Trading Down 0.1%

NYSE:VMC opened at $275.87 on Tuesday. The firm has a market capitalization of $35.75 billion, a P/E ratio of 32.57, a P/E/G ratio of 1.99 and a beta of 1.06. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $288.85 and a 200 day moving average of $287.23. Vulcan Materials Company has a 52 week low of $252.35 and a 52 week high of $331.09.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.13. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the company earned $2.42 EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, research analysts predict that Vulcan Materials Company will post 9.29 earnings per share for the current year.

Vulcan Materials Dividend Announcement

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