Vulcan Materials Company $VMC Shares Newly Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Vulcan Materials Company (NYSE:VMC) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 33,192 shares of the construction company’s stock, valued at approximately $8,120,000.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Vulcan Materials in the 2nd quarter worth approximately $2,868,444,000. Bank of America Corp DE acquired a new stake in shares of Vulcan Materials during the 2nd quarter worth approximately $688,580,000. The Manufacturers Life Insurance Company bought a new stake in shares of Vulcan Materials during the second quarter valued at approximately $451,119,000. Stockbridge Partners LLC bought a new stake in shares of Vulcan Materials during the second quarter valued at approximately $314,470,000. Finally, Veritas Asset Management LLP bought a new stake in shares of Vulcan Materials during the second quarter valued at approximately $306,641,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on VMC shares. BNP Paribas Exane reduced their target price on Vulcan Materials from $290.00 to $281.00 and set a “neutral” rating for the company in a research report on Friday, October 30th. Raymond James Financial decreased their price target on shares of Vulcan Materials from $320.00 to $308.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. Wall Street Zen lowered shares of Vulcan Materials from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. BMO Capital Markets restated a “market perform” rating on shares of Vulcan Materials in a research note on Monday, September 21st. Finally, Citigroup raised their price objective on shares of Vulcan Materials from $300.00 to $326.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Twelve investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Vulcan Materials presently has an average rating of “Moderate Buy” and a consensus target price of $310.72.

Vulcan Materials Stock Performance

Shares of NYSE:VMC opened at $297.96 on Thursday. The business has a fifty day moving average of $256.70 and a 200-day moving average of $280.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.43. Vulcan Materials Company has a twelve month low of $237.03 and a twelve month high of $331.09. The firm has a market cap of $38.24 billion, a PE ratio of 33.60, a price-to-earnings-growth ratio of 2.93 and a beta of 0.99.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Thursday, October 29th. The construction company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.02. Vulcan Materials had a net margin of 13.77% and a return on equity of 13.03%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the company earned $2.84 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. On average, equities research analysts predict that Vulcan Materials Company will post 8.92 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, November 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, November 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. Vulcan Materials’s payout ratio is currently 24.62%.

Insider Buying and Selling

In related news, SVP David P. Clement sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $285.10, for a total value of $570,200.00. Following the completion of the sale, the senior vice president owned 6,716 shares of the company’s stock, valued at $1,914,731.60. This trade represents a 22.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director J. Hill sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $276.17, for a total transaction of $3,866,380.00. Following the completion of the sale, the director directly owned 58,209 shares of the company’s stock, valued at approximately $16,075,579.53. This represents a 19.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.65% of the stock is currently owned by corporate insiders.

Vulcan Materials Company Profile

Vulcan Materials Company (NYSE: VMC) is a producer and distributor of construction materials used in infrastructure, commercial, residential and industrial projects. The company is the largest producer of construction aggregates in the United States, including crushed stone, sand and gravel.

In addition to aggregates, Vulcan Materials produces asphalt mix, ready-mixed concrete and cement. Its materials are used in roads, bridges, airports, commercial buildings, homes and other construction applications.