Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Vulcan Materials Company (NYSE:VMC – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 314,804 shares of the construction company’s stock, valued at approximately $92,870,000.
Several other institutional investors and hedge funds have also modified their holdings of VMC. Burkett Financial Services LLC purchased a new stake in shares of Vulcan Materials during the second quarter worth $25,000. Meeder Asset Management Inc. boosted its position in Vulcan Materials by 71.7% during the first quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock valued at $28,000 after purchasing an additional 43 shares during the last quarter. Birchwood Financial Partners Inc. purchased a new position in Vulcan Materials in the fourth quarter valued at about $29,000. Measured Wealth Private Client Group LLC purchased a new position in Vulcan Materials in the third quarter valued at about $30,000. Finally, WPG Advisers LLC increased its position in Vulcan Materials by 56.4% in the 4th quarter. WPG Advisers LLC now owns 122 shares of the construction company’s stock worth $35,000 after purchasing an additional 44 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of the 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 transaction, the senior vice president owned 8,716 shares in the company, valued at $2,547,599.64. This trade represents a 20.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.65% of the stock is currently owned by company insiders.
Vulcan Materials Price Performance
Vulcan Materials (NYSE:VMC – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.13. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the firm posted $2.42 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts predict that Vulcan Materials Company will post 9.29 EPS for the current fiscal year.
Vulcan Materials Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend 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 presently 24.56%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on VMC. Stifel Nicolaus set a $333.00 price target on Vulcan Materials in a research note on Thursday, April 30th. Barclays increased their price objective on Vulcan Materials from $296.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Oppenheimer assumed coverage on shares of Vulcan Materials in a research report on Thursday, May 28th. They set a “market perform” rating on the stock. Berenberg Bank set a $283.00 target price on shares of Vulcan Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Finally, Stephens boosted their target price on shares of Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Vulcan Materials presently has an average rating of “Moderate Buy” and a consensus price target of $327.93.
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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