Malaga Cove Capital LLC Grows Stock Position in Vulcan Materials Company $VMC

Malaga Cove Capital LLC lifted its position in Vulcan Materials Company (NYSE:VMC) by 74.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,265 shares of the construction company’s stock after acquiring an additional 966 shares during the period. Malaga Cove Capital LLC’s holdings in Vulcan Materials were worth $591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its holdings in Vulcan Materials by 7.5% in the 2nd quarter. Golden State Wealth Management LLC now owns 1,022 shares of the construction company’s stock valued at $267,000 after purchasing an additional 71 shares in the last quarter. Waverton Investment Management Ltd raised its position in shares of Vulcan Materials by 3.9% in the second quarter. Waverton Investment Management Ltd now owns 220,153 shares of the construction company’s stock valued at $57,403,000 after buying an additional 8,272 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its stake in shares of Vulcan Materials by 6.0% in the second quarter. Resona Asset Management Co. Ltd. now owns 43,559 shares of the construction company’s stock worth $11,370,000 after buying an additional 2,452 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in Vulcan Materials during the second quarter worth about $32,000. Finally, Transatlantique Private Wealth LLC grew its stake in Vulcan Materials by 21.3% during the 2nd quarter. Transatlantique Private Wealth LLC now owns 2,589 shares of the construction company’s stock valued at $675,000 after acquiring an additional 454 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP David P. Clement sold 698 shares of Vulcan Materials stock in a transaction that occurred 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 owned 2,832 shares in the company, valued at approximately $845,521.92. This trade represents a 19.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Thompson S. Baker II sold 5,818 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $292.26, for a total value of $1,700,368.68. Additional details regarding this sale are available in the official SEC disclosure. 0.62% of the stock is currently owned by insiders.

Vulcan Materials Price Performance

VMC stock opened at $286.30 on Friday. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $311.74. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. The stock has a market cap of $37.83 billion, a price-to-earnings ratio of 39.99, a price-to-earnings-growth ratio of 2.39 and a beta of 0.95. The business has a fifty day moving average of $296.31 and a two-hundred day moving average of $278.66.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.22 EPS. As a group, research analysts anticipate that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.7%. Vulcan Materials’s dividend payout ratio (DPR) is currently 23.28%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VMC. Weiss Ratings reissued a “buy (b)” rating on shares of Vulcan Materials in a research note on Thursday, October 30th. DA Davidson lifted their price objective on Vulcan Materials from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup lowered their price objective on Vulcan Materials from $356.00 to $342.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company raised Vulcan Materials to a “hold” rating in a research note on Wednesday, October 8th. Finally, Morgan Stanley reduced their price target on Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating on the stock in a report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and an average target price of $317.58.

Vulcan Materials Company 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.