Engineers Gate Manager LP boosted its stake in Vulcan Materials Company (NYSE:VMC – Free Report) by 394.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 217,587 shares of the construction company’s stock after purchasing an additional 173,580 shares during the quarter. Vulcan Materials comprises 0.7% of Engineers Gate Manager LP’s investment portfolio, making the stock its 17th biggest position. Engineers Gate Manager LP’s holdings in Vulcan Materials were worth $62,060,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Vulcan Materials by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 17,207,183 shares of the construction company’s stock worth $5,293,274,000 after acquiring an additional 311,539 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Vulcan Materials by 0.9% during the 4th 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 boosted its position in shares of Vulcan Materials by 0.4% during the 3rd quarter. Bank of America Corp DE now owns 2,318,474 shares of the construction company’s stock worth $713,209,000 after acquiring an additional 9,030 shares in the last quarter. Morgan Stanley boosted its position in shares of Vulcan Materials by 7.9% during the 4th quarter. Morgan Stanley now owns 1,727,232 shares of the construction company’s stock worth $492,642,000 after acquiring an additional 126,523 shares in the last quarter. Finally, Lone Pine Capital LLC acquired a new position in shares of Vulcan Materials during the 3rd quarter worth $425,938,000. Institutional investors and hedge funds own 90.39% of the company’s stock.
Wall Street Analyst Weigh In
VMC has been the subject of a number of research analyst reports. Raymond James Financial set a $325.00 price target on Vulcan Materials in a report on Thursday, April 30th. Wall Street Zen raised Vulcan Materials from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 price target (down from $335.00) on shares of Vulcan Materials in a report on Wednesday, March 4th. Truist Financial boosted their price target on Vulcan Materials from $320.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Finally, Berenberg Bank set a $283.00 price target on Vulcan Materials and gave the stock a “hold” rating in a report on Tuesday, June 2nd. Seven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $326.92.
Vulcan Materials Trading Down 2.2%
NYSE VMC opened at $294.34 on Thursday. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.51. Vulcan Materials Company has a twelve month low of $252.35 and a twelve month high of $331.09. The company has a market cap of $38.19 billion, a price-to-earnings ratio of 35.00, a price-to-earnings-growth ratio of 2.17 and a beta of 1.05. The business’s fifty day moving average is $283.56 and its 200 day moving average is $290.08.
Vulcan Materials (NYSE:VMC – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.25. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.64 billion. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.Vulcan Materials’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $1.00 EPS. As a group, sell-side analysts expect that Vulcan Materials Company will post 9.28 EPS for the current fiscal year.
Vulcan Materials Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, May 22nd. Vulcan Materials’s dividend payout ratio (DPR) is presently 24.73%.
Insiders Place Their Bets
In related news, SVP David P. Clement sold 2,212 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $292.29, for a total transaction of $646,545.48. Following the completion of the sale, the senior vice president owned 8,716 shares of the company’s stock, valued at $2,547,599.64. This trade represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.65% of the company’s stock.
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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