Geode Capital Management LLC Has $906.96 Million Stock Holdings in Vulcan Materials Company $VMC

Geode Capital Management LLC increased its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 0.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,491,618 shares of the construction company’s stock after purchasing an additional 27,531 shares during the quarter. Geode Capital Management LLC owned 2.64% of Vulcan Materials worth $906,961,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. ORG Partners LLC boosted its holdings in shares of Vulcan Materials by 86.3% in the second quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock valued at $25,000 after buying an additional 44 shares during the period. Atlantic Union Bankshares Corp bought a new stake in Vulcan Materials in the 2nd quarter valued at $32,000. Concord Wealth Partners bought a new stake in Vulcan Materials in the 2nd quarter valued at $33,000. Manchester Capital Management LLC boosted its stake in Vulcan Materials by 26.9% in the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company’s stock worth $43,000 after purchasing an additional 39 shares during the period. Finally, Steph & Co. bought a new position in Vulcan Materials during the 2nd quarter worth about $55,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Vulcan Materials Trading Down 3.9%

NYSE VMC opened at $283.72 on Friday. Vulcan Materials Company has a 12 month low of $215.08 and a 12 month 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 stock has a 50 day moving average of $296.30 and a 200-day moving average of $280.31. The company has a market cap of $37.49 billion, a PE ratio of 39.63, a PEG ratio of 2.39 and a beta of 0.95.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Thursday, October 30th. The construction company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.12. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.22 earnings per share. On average, equities research analysts anticipate that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Monday, November 10th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, November 10th. Vulcan Materials’s dividend payout ratio is presently 23.28%.

Analyst Ratings Changes

Several analysts have issued reports on VMC shares. Barclays lifted their price target on Vulcan Materials from $305.00 to $320.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Morgan Stanley dropped their target price on Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Monday, July 28th. Wells Fargo & Company raised Vulcan Materials to a “hold” rating in a research report on Wednesday, October 8th. Stifel Nicolaus set a $327.00 price target on shares of Vulcan Materials in a research note on Monday, November 3rd. Finally, Raymond James Financial lifted their price objective on shares of Vulcan Materials from $295.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $317.58.

Insider Activity

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of the company’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 value of $208,394.88. Following the sale, the senior vice president owned 2,832 shares in the company, valued at $845,521.92. This represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Thompson S. Baker II sold 4,853 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $295.63, for a total value of $1,434,692.39. Following the completion of the sale, the president directly owned 41,485 shares of the company’s stock, valued at approximately $12,264,210.55. The trade was a 10.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,369 shares of company stock valued at $3,343,456 over the last quarter. 0.62% of the stock is currently owned by company insiders.

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.