The Manufacturers Life Insurance Company purchased a new position in shares of Vulcan Materials Company (NYSE:VMC – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,529,164 shares of the construction company’s stock, valued at approximately $451,119,000.
Several other hedge funds have also recently bought and sold shares of VMC. Brighton Jones LLC purchased a new position in shares of Vulcan Materials in the fourth quarter valued at $497,000. NewEdge Advisors LLC lifted its position in shares of Vulcan Materials by 3.9% in the first quarter. NewEdge Advisors LLC now owns 4,359 shares of the construction company’s stock valued at $1,017,000 after acquiring an additional 163 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Vulcan Materials by 6.3% in the first quarter. Empowered Funds LLC now owns 3,195 shares of the construction company’s stock valued at $745,000 after acquiring an additional 190 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Vulcan Materials by 28.5% during the first quarter. Focus Partners Wealth now owns 3,321 shares of the construction company’s stock valued at $775,000 after acquiring an additional 736 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of 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 owned by hedge funds and other institutional investors.
Vulcan Materials Stock Performance
NYSE:VMC opened at $275.87 on Tuesday. The company has a market cap of $35.75 billion, a P/E ratio of 32.57, a P/E/G ratio of 1.99 and a beta of 1.06. The firm’s 50 day moving average is $288.85 and its two-hundred day moving average is $287.23. Vulcan Materials Company has a fifty-two week low of $252.35 and a fifty-two week high of $331.09. 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 announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors 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 (DPR) is presently 24.56%.
Insider Transactions at Vulcan Materials
In other Vulcan Materials news, SVP David P. Clement sold 2,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $285.10, for a total transaction of $570,200.00. Following the completion of the sale, the senior vice president directly owned 6,716 shares in the company, valued at $1,914,731.60. This represents a 22.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.65% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently weighed in on VMC. Weiss Ratings reissued a “buy (b-)” rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. UBS Group decreased their price target on shares of Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Stephens lifted their price target on shares of Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Wells Fargo & Company cut their price objective on shares of Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada boosted their price objective on shares of Vulcan Materials from $293.00 to $300.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $327.93.
Check Out Our Latest Analysis on Vulcan Materials
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.
Featured Articles
- Five stocks we like better than Vulcan Materials
- Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters
- Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
- Snowflake Could Be Headed for New Highs Despite Insider Selling
- MongoDB Is Surging—And the Next Catalyst Is Almost Here
Want to see what other hedge funds are holding VMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vulcan Materials Company (NYSE:VMC – Free Report).
Receive News & Ratings for Vulcan Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vulcan Materials and related companies with MarketBeat.com's FREE daily email newsletter.
