Saudi Central Bank Boosts Position in Vulcan Materials Company $VMC

Saudi Central Bank boosted its stake in shares of Vulcan Materials Company (NYSE:VMCFree Report) by 87.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,132 shares of the construction company’s stock after buying an additional 4,255 shares during the quarter. Saudi Central Bank’s holdings in Vulcan Materials were worth $2,694,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in VMC. Burkett Financial Services LLC purchased a new position in shares of Vulcan Materials during the second quarter worth approximately $25,000. Meeder Asset Management Inc. grew its stake in Vulcan Materials by 71.7% in the first quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company’s stock worth $28,000 after purchasing an additional 43 shares in the last quarter. Birchwood Financial Partners Inc. bought a new position in Vulcan Materials in the fourth quarter worth approximately $29,000. Measured Wealth Private Client Group LLC purchased a new position in Vulcan Materials during the 3rd quarter worth $30,000. Finally, Reflection Asset Management purchased a new position in Vulcan Materials during the 4th quarter worth $37,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Stock Up 0.1%

Shares of NYSE VMC opened at $262.93 on Tuesday. Vulcan Materials Company has a 12-month low of $252.35 and a 12-month high of $331.09. The stock’s fifty day simple moving average is $281.51 and its two-hundred day simple moving average is $283.52. The stock has a market capitalization of $34.07 billion, a PE ratio of 31.04, a price-to-earnings-growth ratio of 2.36 and a beta of 1.05. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47.

Vulcan Materials (NYSE:VMCGet Free Report) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $2.59 EPS for the quarter, topping the consensus estimate of $2.46 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.42 EPS. As a group, analysts expect that Vulcan Materials Company will post 9.29 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th were issued a $0.52 dividend. The ex-dividend date was Thursday, August 13th. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. Vulcan Materials’s payout ratio is currently 24.56%.

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, SVP David Clement sold 2,212 shares of the stock in a transaction dated Monday, June 15th. The shares were 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 directly owned 8,716 shares of the company’s stock, valued at approximately $2,547,599.64. This represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director J. Hill sold 14,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $276.17, for a total transaction of $3,866,380.00. Following the completion of the sale, the director owned 58,209 shares in the company, valued at $16,075,579.53. This represents a 19.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,212 shares of company stock valued at $5,083,125 over the last quarter. 0.65% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VMC. Royal Bank Of Canada lifted their target price on Vulcan Materials from $293.00 to $300.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Berenberg Bank set a $283.00 price target on Vulcan Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. DA Davidson assumed coverage on Vulcan Materials in a report on Tuesday, August 25th. They issued a “buy” rating and a $330.00 price objective for the company. Wall Street Zen raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Vulcan Materials in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $328.64.

Read Our Latest Research Report on Vulcan Materials

Vulcan Materials Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Vulcan Materials (NYSE:VMC)

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