Putney Financial Group LLC Has $159,000 Position in Vulcan Materials Company $VMC

Putney Financial Group LLC increased its stake in shares of Vulcan Materials Company (NYSE:VMC) by 913.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 608 shares of the construction company’s stock after purchasing an additional 548 shares during the quarter. Putney Financial Group LLC’s holdings in Vulcan Materials were worth $159,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Simon Quick Advisors LLC acquired a new position in shares of Vulcan Materials during the second quarter worth $203,000. Atria Investments Inc increased its holdings in Vulcan Materials by 0.7% in the 2nd quarter. Atria Investments Inc now owns 6,719 shares of the construction company’s stock worth $1,753,000 after purchasing an additional 45 shares in the last quarter. Assetmark Inc. raised its position in Vulcan Materials by 9.7% in the second quarter. Assetmark Inc. now owns 35,804 shares of the construction company’s stock valued at $9,338,000 after purchasing an additional 3,174 shares during the last quarter. Premier Path Wealth Partners LLC acquired a new stake in shares of Vulcan Materials during the second quarter valued at about $270,000. Finally, Spire Wealth Management grew its holdings in shares of Vulcan Materials by 7.5% during the second quarter. Spire Wealth Management now owns 899 shares of the construction company’s stock worth $235,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Morgan Stanley cut their price target on shares of Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating on the stock in a report on Monday, July 28th. Citigroup reissued a “buy” rating and issued a $321.00 price objective (up previously from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Royal Bank Of Canada lowered their target price on Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating for the company in a research report on Friday, August 1st. Finally, Barclays upped their price target on Vulcan Materials from $305.00 to $320.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Vulcan Materials has a consensus rating of “Moderate Buy” and an average price target of $313.17.

Vulcan Materials Stock Performance

Shares of Vulcan Materials stock opened at $290.13 on Friday. The business has a 50-day moving average price of $296.63 and a two-hundred day moving average price of $277.08. Vulcan Materials Company has a 1-year low of $215.08 and a 1-year 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. The company has a market cap of $38.33 billion, a P/E ratio of 40.52, a PEG ratio of 2.39 and a beta of 0.92.

Vulcan Materials (NYSE:VMC) last released its earnings results on Thursday, October 30th. The construction company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.72 by $0.12. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The firm’s revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.22 earnings per share. As a group, analysts anticipate that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Dividend Announcement

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

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $298.56, for a total value of $208,394.88. Following the completion of the sale, the senior vice president directly owned 2,832 shares in the company, valued at approximately $845,521.92. This trade represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.62% of the stock is currently owned by corporate insiders.

About Vulcan Materials

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.