Eads & Heald Investment Counsel acquired a new stake in Vulcan Materials Co. (NYSE:VMC) during the second quarter, Holdings Channel reports. The firm acquired 1,730 shares of the company’s stock, valued at approximately $208,000.
A number of other hedge funds also recently modified their holdings of VMC. American Century Companies Inc. raised its position in Vulcan Materials by 3,591.2% in the second quarter. American Century Companies Inc. now owns 597,944 shares of the company’s stock valued at $71,969,000 after buying an additional 581,745 shares during the last quarter. Capital Growth Management LP acquired a new position in Vulcan Materials during the first quarter valued at about $56,480,000. Friess Associates LLC acquired a new position in Vulcan Materials during the first quarter valued at about $16,629,000. Caledonia Private Investments Pty Ltd raised its position in Vulcan Materials by 19.3% in the first quarter. Caledonia Private Investments Pty Ltd now owns 753,253 shares of the company’s stock valued at $79,521,000 after buying an additional 121,944 shares during the last quarter. Finally, Strs Ohio raised its position in Vulcan Materials by 27.8% in the second quarter. Strs Ohio now owns 555,309 shares of the company’s stock valued at $66,836,000 after buying an additional 120,726 shares during the last quarter. Institutional investors and hedge funds own 86.69% of the company’s stock.
Vulcan Materials Co. (NYSE:VMC) traded up 0.91% during midday trading on Friday, reaching $109.76. 492,429 shares of the company’s stock were exchanged. Vulcan Materials Co. has a 12-month low of $78.83 and a 12-month high of $127.20. The stock has a market capitalization of $14.61 billion, a price-to-earnings ratio of 41.88 and a beta of 1.19. The stock’s 50-day moving average is $111.48 and its 200-day moving average is $114.85.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Monday, August 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.10. Vulcan Materials had a net margin of 9.85% and a return on equity of 8.74%. The business had revenue of $956.80 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business posted $0.35 earnings per share. Vulcan Materials’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts forecast that Vulcan Materials Co. will post $3.23 earnings per share for the current year.
Several research firms have recently issued reports on VMC. Zacks Investment Research upgraded shares of Vulcan Materials from a “hold” rating to a “strong-buy” rating and set a $144.00 target price for the company in a report on Monday, July 18th. Royal Bank Of Canada lifted their target price on shares of Vulcan Materials from $127.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday, July 12th. Argus reiterated a “buy” rating and set a $129.00 target price on shares of Vulcan Materials in a report on Wednesday, August 3rd. Bank of America Corp. reiterated a “buy” rating on shares of Vulcan Materials in a report on Friday, June 17th. Finally, Jefferies Group reiterated a “hold” rating on shares of Vulcan Materials in a report on Wednesday, August 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $130.89.
In other news, insider Stanley G. Bass sold 829 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $121.07, for a total transaction of $100,367.03. Following the transaction, the insider now directly owns 15,185 shares in the company, valued at $1,838,447.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David J. Grayson sold 2,025 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $118.77, for a total transaction of $240,509.25. Following the transaction, the insider now owns 18,637 shares in the company, valued at $2,213,516.49. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.
About Vulcan Materials
Vulcan Materials Company is a producer of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company has four segments organized around its principal product lines: Aggregates, Asphalt Mix, Concrete and Calcium. The Company operates approximately 344 aggregates facilities.
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