Wealthfront Advisers LLC purchased a new position in shares of Vulcan Materials Company (NYSE:VMC – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,360 shares of the construction company’s stock, valued at approximately $3,941,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC bought a new position in shares of Vulcan Materials during the 4th quarter valued at about $497,000. NewEdge Advisors LLC lifted its position in Vulcan Materials by 3.9% in the 1st quarter. NewEdge Advisors LLC now owns 4,359 shares of the construction company’s stock worth $1,017,000 after buying an additional 163 shares during the last quarter. Empowered Funds LLC lifted its position in Vulcan Materials by 6.3% in the 1st quarter. Empowered Funds LLC now owns 3,195 shares of the construction company’s stock worth $745,000 after buying an additional 190 shares during the last quarter. Focus Partners Wealth boosted its stake in Vulcan Materials by 28.5% in the first quarter. Focus Partners Wealth now owns 3,321 shares of the construction company’s stock worth $775,000 after buying an additional 736 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Vulcan Materials by 31.5% during the first quarter. Geneos Wealth Management Inc. now owns 334 shares of the construction company’s stock valued at $78,000 after acquiring an additional 80 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.
Vulcan Materials Price Performance
Shares of Vulcan Materials stock opened at $270.63 on Friday. The business has a 50 day moving average of $289.41 and a 200 day moving average of $287.69. Vulcan Materials Company has a 52 week low of $252.35 and a 52 week high of $331.09. The company has a market cap of $35.07 billion, a PE ratio of 31.95, a P/E/G ratio of 1.99 and a beta of 1.06. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47.
Vulcan Materials Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be issued a $0.52 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. Vulcan Materials’s dividend payout ratio is 24.56%.
Insider Activity at Vulcan Materials
In related news, SVP David P. Clement sold 2,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $285.10, for a total transaction of $570,200.00. Following the sale, the senior vice president owned 6,716 shares of the company’s stock, valued at $1,914,731.60. The trade was a 22.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.65% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently commented on VMC shares. Stifel Nicolaus set a $333.00 target price on shares of Vulcan Materials in a report on Thursday, April 30th. Barclays boosted their target price on Vulcan Materials from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Citigroup dropped their target price on Vulcan Materials from $355.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Oppenheimer assumed coverage on Vulcan Materials in a research report on Thursday, May 28th. They set a “market perform” rating on the stock. Finally, Royal Bank Of Canada lifted their price target on Vulcan Materials from $293.00 to $300.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and an average price target of $327.93.
Check Out Our Latest Research Report on VMC
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.
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