State Treasurer State of Michigan boosted its position in Vulcan Materials (NYSE:VMC) by 0.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 38,010 shares of the construction company’s stock after purchasing an additional 200 shares during the period. State Treasurer State of Michigan’s holdings in Vulcan Materials were worth $4,500,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Utah Retirement Systems increased its stake in Vulcan Materials by 0.4% in the fourth quarter. Utah Retirement Systems now owns 24,560 shares of the construction company’s stock valued at $2,426,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Vulcan Materials by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the construction company’s stock valued at $829,000 after purchasing an additional 100 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Vulcan Materials by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,776 shares of the construction company’s stock valued at $571,000 after purchasing an additional 101 shares in the last quarter. Round Table Services LLC increased its stake in Vulcan Materials by 3.8% in the first quarter. Round Table Services LLC now owns 2,811 shares of the construction company’s stock valued at $333,000 after purchasing an additional 102 shares in the last quarter. Finally, Commonwealth Bank of Australia increased its stake in Vulcan Materials by 21.9% in the fourth quarter. Commonwealth Bank of Australia now owns 624 shares of the construction company’s stock valued at $58,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 96.68% of the company’s stock.
VMC stock traded up $0.10 during trading on Friday, reaching $130.62. The stock had a trading volume of 6,679 shares, compared to its average volume of 1,123,757. Vulcan Materials has a one year low of $82.52 and a one year high of $133.59. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 1.64. The company has a market capitalization of $17.15 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 1.54 and a beta of 0.94.
Vulcan Materials (NYSE:VMC) last released its earnings results on Thursday, May 2nd. The construction company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.13. The firm had revenue of $996.50 million for the quarter, compared to analysts’ expectations of $915.68 million. Vulcan Materials had a net margin of 11.63% and a return on equity of 10.60%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 earnings per share. On average, sell-side analysts forecast that Vulcan Materials will post 4.82 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Thursday, May 23rd. Vulcan Materials’s payout ratio is 30.62%.
Several equities research analysts have weighed in on the stock. Barclays reaffirmed a “buy” rating and issued a $137.00 price target on shares of Vulcan Materials in a research note on Sunday, May 5th. Zacks Investment Research raised shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research report on Thursday, May 9th. Berenberg Bank began coverage on shares of Vulcan Materials in a research report on Wednesday, April 3rd. They set a “hold” rating and a $115.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of Vulcan Materials in a research report on Thursday, March 21st. They set an “overweight” rating and a $135.00 target price for the company. Finally, Goldman Sachs Group raised shares of Vulcan Materials from a “buy” rating to a “conviction-buy” rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $124.15.
In other Vulcan Materials news, insider David P. Clement sold 2,789 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $114.28, for a total value of $318,726.92. Following the transaction, the insider now directly owns 4,340 shares in the company, valued at $495,975.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.79% of the stock is owned by insiders.
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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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