Chevy Chase Trust Holdings LLC Increases Position in Vulcan Materials Company $VMC

Chevy Chase Trust Holdings LLC lifted its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,776 shares of the construction company’s stock after acquiring an additional 516 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Vulcan Materials were worth $18,199,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Values First Advisors Inc. increased its holdings in Vulcan Materials by 53.8% in the second quarter. Values First Advisors Inc. now owns 2,235 shares of the construction company’s stock valued at $583,000 after buying an additional 782 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in Vulcan Materials by 6.2% in the second quarter. Rosenberg Matthew Hamilton now owns 648 shares of the construction company’s stock valued at $169,000 after buying an additional 38 shares during the last quarter. Mutual Advisors LLC increased its holdings in Vulcan Materials by 4.6% in the second quarter. Mutual Advisors LLC now owns 2,032 shares of the construction company’s stock valued at $558,000 after buying an additional 90 shares during the last quarter. Twin Tree Management LP increased its holdings in Vulcan Materials by 119.2% in the second quarter. Twin Tree Management LP now owns 1,303 shares of the construction company’s stock valued at $340,000 after buying an additional 8,084 shares during the last quarter. Finally, Sagespring Wealth Partners LLC increased its holdings in Vulcan Materials by 51.6% in the second quarter. Sagespring Wealth Partners LLC now owns 1,472 shares of the construction company’s stock valued at $384,000 after buying an additional 501 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Stock Down 0.3%

NYSE:VMC opened at $295.37 on Friday. The firm has a market capitalization of $39.02 billion, a PE ratio of 41.25, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92. The stock has a 50 day moving average of $296.12 and a 200-day moving average of $273.35. Vulcan Materials Company has a 52 week low of $215.08 and a 52 week high of $311.74. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Thursday, July 31st. The construction company reported $2.45 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.20). The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.23 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $2.35 earnings per share. Analysts predict that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Monday, November 10th will be given a dividend of $0.49 per share. The ex-dividend date is Monday, November 10th. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. Vulcan Materials’s payout ratio is currently 27.37%.

Analysts Set New Price Targets

Several analysts recently weighed in on VMC shares. Citigroup reissued a “buy” rating and issued a $321.00 price objective (up from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Vulcan Materials in a report on Wednesday, October 8th. Royal Bank Of Canada lowered their price objective on Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating for the company in a report on Friday, August 1st. Barclays upped their target price on Vulcan Materials from $285.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. upped their target price on Vulcan Materials from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $308.58.

Insider Activity

In other news, SVP David P. Clement sold 698 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $298.56, for a total transaction of $208,394.88. Following the completion of the transaction, the senior vice president directly owned 2,832 shares in the company, valued at approximately $845,521.92. The trade was a 19.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Vulcan Materials Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in 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.