Piedmont Investment Advisors LLC Invests $194,000 in Vulcan Materials (VMC)

Piedmont Investment Advisors LLC acquired a new stake in Vulcan Materials (NYSE:VMC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,501 shares of the construction company’s stock, valued at approximately $194,000.

Several other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in Vulcan Materials by 13.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,740,609 shares of the construction company’s stock worth $312,895,000 after buying an additional 315,559 shares in the last quarter. Fred Alger Management Inc. boosted its holdings in Vulcan Materials by 56.3% during the second quarter. Fred Alger Management Inc. now owns 2,644,635 shares of the construction company’s stock worth $341,317,000 after buying an additional 952,138 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Vulcan Materials by 35.3% during the first quarter. Principal Financial Group Inc. now owns 2,016,741 shares of the construction company’s stock worth $230,251,000 after buying an additional 526,595 shares in the last quarter. Caledonia Private Investments Pty Ltd boosted its holdings in Vulcan Materials by 11.4% during the first quarter. Caledonia Private Investments Pty Ltd now owns 1,642,585 shares of the construction company’s stock worth $187,534,000 after buying an additional 168,233 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its holdings in Vulcan Materials by 4.3% during the first quarter. OppenheimerFunds Inc. now owns 1,048,986 shares of the construction company’s stock worth $119,761,000 after buying an additional 43,541 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Shares of NYSE:VMC opened at $112.91 on Friday. The company has a market cap of $15.32 billion, a P/E ratio of 33.57, a price-to-earnings-growth ratio of 1.09 and a beta of 0.94. Vulcan Materials has a 1-year low of $108.17 and a 1-year high of $141.20. The company has a quick ratio of 0.96, a current ratio of 1.46 and a debt-to-equity ratio of 0.55.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Tuesday, July 31st. The construction company reported $1.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.14). The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Vulcan Materials had a net margin of 15.72% and a return on equity of 9.46%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 EPS. sell-side analysts anticipate that Vulcan Materials will post 4.32 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Wednesday, August 22nd will be given a $0.28 dividend. The ex-dividend date is Tuesday, August 21st. This represents a $1.12 annualized dividend and a dividend yield of 0.99%. Vulcan Materials’s dividend payout ratio (DPR) is presently 36.84%.

A number of brokerages recently weighed in on VMC. Zacks Investment Research cut shares of Vulcan Materials from a “hold” rating to a “sell” rating in a report on Sunday, July 15th. Bank of America reduced their target price on shares of Vulcan Materials from $130.00 to $128.00 and set a “hold” rating for the company in a report on Wednesday, August 1st. Jefferies Financial Group restated a “hold” rating and set a $129.00 target price on shares of Vulcan Materials in a report on Monday, April 23rd. Royal Bank of Canada upgraded shares of Vulcan Materials from a “sector perform” rating to an “outperform” rating and set a $97.00 target price for the company in a report on Wednesday, August 1st. They noted that the move was a valuation call. Finally, Stephens set a $137.00 target price on shares of Vulcan Materials and gave the stock a “buy” rating in a report on Friday, April 13th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Vulcan Materials presently has an average rating of “Hold” and a consensus target price of $132.25.

In related news, VP John R. Mcpherson sold 21,618 shares of the company’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $130.37, for a total value of $2,818,338.66. Following the completion of the sale, the vice president now owns 102,610 shares in the company, valued at approximately $13,377,265.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stanley G. Bass sold 4,109 shares of the company’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $130.00, for a total transaction of $534,170.00. Following the completion of the sale, the insider now owns 31,569 shares of the company’s stock, valued at approximately $4,103,970. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.

Vulcan Materials Company Profile

Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.

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Institutional Ownership by Quarter for Vulcan Materials (NYSE:VMC)

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