Vulcan Materials Company $VMC Shares Purchased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. boosted its stake in Vulcan Materials Company (NYSE:VMC) by 4.7% in the second quarter, Holdings Channel.com reports. The fund owned 42,973 shares of the construction company’s stock after buying an additional 1,911 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Vulcan Materials were worth $11,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. ORG Partners LLC increased its position in shares of Vulcan Materials by 86.3% during the second quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Vulcan Materials in the 2nd quarter valued at about $32,000. Concord Wealth Partners purchased a new position in Vulcan Materials during the 2nd quarter worth approximately $33,000. Manchester Capital Management LLC increased its position in Vulcan Materials by 26.9% during the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company’s stock worth $43,000 after buying an additional 39 shares during the period. Finally, Steph & Co. acquired a new position in Vulcan Materials during the second quarter worth approximately $55,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

VMC has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Raymond James Financial upped their price target on shares of Vulcan Materials from $295.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Citigroup decreased their price target on shares of Vulcan Materials from $356.00 to $342.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Stifel Nicolaus set a $327.00 price objective on shares of Vulcan Materials in a research note on Monday, November 3rd. Finally, Wells Fargo & Company raised shares of Vulcan Materials to a “hold” rating in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Vulcan Materials presently has an average rating of “Moderate Buy” and a consensus price target of $317.58.

Vulcan Materials Stock Performance

Shares of VMC opened at $284.32 on Thursday. The firm has a market cap of $37.57 billion, a price-to-earnings ratio of 39.71, a PEG ratio of 2.39 and a beta of 0.95. 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 business’s 50 day moving average is $295.22 and its two-hundred day moving average is $281.17. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $311.74.

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 the consensus estimate of $2.28 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.22 earnings per share. Analysts forecast that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Monday, November 10th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, November 10th. Vulcan Materials’s dividend payout ratio (DPR) is currently 23.28%.

Insider Activity

In related news, SVP David P. Clement sold 698 shares of Vulcan Materials stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $298.56, for a total value 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. This trade represents a 19.77% decrease in their ownership of the stock. 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 4,853 shares of the business’s stock in a transaction dated 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. This represents a 10.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 11,369 shares of company stock valued at $3,343,456 in the last three months. Insiders own 0.61% of the company’s stock.

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.