Sanctuary Advisors LLC boosted its position in shares of Vulcan Materials Company (NYSE:VMC – Free Report) by 5.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 39,251 shares of the construction company’s stock after buying an additional 2,142 shares during the period. Sanctuary Advisors LLC’s holdings in Vulcan Materials were worth $10,688,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Vulcan Materials by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,576,172 shares of the construction company’s stock worth $1,016,168,000 after acquiring an additional 32,012 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Vulcan Materials by 6.1% in the 2nd quarter. Bank of America Corp DE now owns 2,309,444 shares of the construction company’s stock worth $602,349,000 after purchasing an additional 133,523 shares during the last quarter. Morgan Stanley raised its holdings in shares of Vulcan Materials by 7.9% in the 4th quarter. Morgan Stanley now owns 1,727,232 shares of the construction company’s stock worth $492,642,000 after purchasing an additional 126,523 shares in the last quarter. Norges Bank bought a new stake in shares of Vulcan Materials in the 4th quarter worth approximately $383,613,000. Finally, Dimensional Fund Advisors LP lifted its stake in Vulcan Materials by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,322,235 shares of the construction company’s stock valued at $377,162,000 after purchasing an additional 28,919 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on VMC shares. Citigroup reduced their target price on shares of Vulcan Materials from $365.00 to $355.00 and set a “buy” rating for the company in a report on Friday, May 1st. Barclays increased their price objective on Vulcan Materials from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Wall Street Zen lowered Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Morgan Stanley decreased their target price on Vulcan Materials from $322.00 to $321.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Finally, Oppenheimer initiated coverage on Vulcan Materials in a research report on Thursday, May 28th. They set a “market perform” rating on the stock. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $327.79.
Insider Transactions at Vulcan Materials
In other news, SVP David P. Clement sold 2,212 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $292.29, for a total value of $646,545.48. Following the completion of the sale, the senior vice president owned 8,716 shares in the company, valued at $2,547,599.64. This represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.65% of the stock is currently owned by company insiders.
Vulcan Materials Stock Performance
Shares of VMC opened at $288.64 on Friday. The company has a 50-day moving average of $286.57 and a two-hundred day moving average of $290.97. The stock has a market cap of $37.45 billion, a price-to-earnings ratio of 34.32, a PEG ratio of 2.13 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.59 and a quick ratio of 1.89. Vulcan Materials Company has a one year low of $252.35 and a one year high of $331.09.
Vulcan Materials (NYSE:VMC – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.64 billion. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 earnings per share. On average, equities research analysts expect that Vulcan Materials Company will post 9.23 earnings per share for the current year.
Vulcan Materials Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 13th. Vulcan Materials’s payout ratio is 24.73%.
Vulcan Materials Profile
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.
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