Rakuten Investment Management Inc. Invests $32.90 Million in Vulcan Materials Company $VMC

Rakuten Investment Management Inc. acquired a new stake in Vulcan Materials Company (NYSE:VMC) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 106,956 shares of the construction company’s stock, valued at approximately $32,902,000. Rakuten Investment Management Inc. owned about 0.08% of Vulcan Materials as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. ORG Partners LLC grew its position in 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 purchasing an additional 44 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of Vulcan Materials during the 2nd quarter worth about $32,000. Concord Wealth Partners bought a new position in shares of Vulcan Materials in the 2nd quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Vulcan Materials in the 3rd quarter valued at about $42,000. Finally, Bayforest Capital Ltd bought a new position in shares of Vulcan Materials in the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Stock Down 3.2%

VMC stock opened at $296.23 on Wednesday. Vulcan Materials Company has a 1-year low of $215.08 and a 1-year high of $313.37. The business’s 50 day simple moving average is $293.68 and its 200 day simple moving average is $290.44. The company has a current ratio of 2.23, a quick ratio of 1.56 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $39.14 billion, a PE ratio of 35.18, a PEG ratio of 2.32 and a beta of 1.06.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.12. Vulcan Materials had a return on equity of 13.47% and a net margin of 14.19%.The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the firm posted $2.22 EPS. The company’s quarterly revenue was up 14.4% on a year-over-year basis. As a group, research analysts anticipate that Vulcan Materials Company will post 8.69 EPS for the current year.

Insider Buying and Selling

In related news, SVP Denson N. Franklin III sold 665 shares of Vulcan Materials stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $295.00, for a total transaction of $196,175.00. Following the completion of the sale, the senior vice president owned 8,284 shares of the company’s stock, valued at approximately $2,443,780. The trade was a 7.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP David P. Clement sold 2,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $288.55, for a total transaction of $577,100.00. Following the completion of the transaction, the senior vice president directly owned 832 shares in the company, valued at approximately $240,073.60. This represents a 70.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 20,471 shares of company stock valued at $6,054,615. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

VMC has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Vulcan Materials in a report on Thursday, October 30th. Royal Bank Of Canada decreased their target price on shares of Vulcan Materials from $279.00 to $278.00 and set a “sector perform” rating for the company in a research note on Friday, October 31st. Citigroup upped their price target on shares of Vulcan Materials from $342.00 to $345.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Finally, DA Davidson reissued a “neutral” rating and issued a $330.00 price objective on shares of Vulcan Materials in a research report on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $319.92.

About Vulcan Materials

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.