OP Asset Management Ltd Invests $3.65 Million in Vulcan Materials Company $VMC

OP Asset Management Ltd purchased a new stake in Vulcan Materials Company (NYSE:VMC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 13,388 shares of the construction company’s stock, valued at approximately $3,646,000.

A number of other institutional investors also recently modified their holdings of the business. Guyasuta Investment Advisors Inc. raised its holdings in Vulcan Materials by 2.1% during the 1st quarter. Guyasuta Investment Advisors Inc. now owns 54,344 shares of the construction company’s stock valued at $14,798,000 after acquiring an additional 1,133 shares during the period. Steph & Co. boosted its holdings in shares of Vulcan Materials by 10.2% in the first quarter. Steph & Co. now owns 452 shares of the construction company’s stock worth $123,000 after acquiring an additional 42 shares during the period. Anchyra Partners LLC boosted its holdings in shares of Vulcan Materials by 5.7% in the first quarter. Anchyra Partners LLC now owns 784 shares of the construction company’s stock worth $213,000 after acquiring an additional 42 shares during the period. Hanson & Doremus Investment Management bought a new position in shares of Vulcan Materials in the first quarter worth $54,000. Finally, Campbell Newman Asset Management Inc. grew its position in shares of Vulcan Materials by 0.7% in the first quarter. Campbell Newman Asset Management Inc. now owns 66,186 shares of the construction company’s stock valued at $18,022,000 after purchasing an additional 477 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Vulcan Materials Trading Down 0.5%

Shares of VMC stock opened at $311.37 on Friday. The company has a market capitalization of $40.40 billion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 2.26 and a beta of 1.05. Vulcan Materials Company has a 52-week low of $252.35 and a 52-week high of $331.09. The business’s fifty day moving average is $285.54 and its 200 day moving average is $290.74. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.59.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Wednesday, April 29th. The construction company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.10 by $0.25. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 earnings per share. On average, equities research analysts anticipate that Vulcan Materials Company will post 9.28 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. Vulcan Materials’s payout ratio is presently 24.73%.

Insider Activity at Vulcan Materials

In related news, SVP David P. Clement sold 2,212 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $292.29, for a total value of $646,545.48. Following the transaction, the senior vice president directly owned 8,716 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on VMC. Barclays boosted their price objective on Vulcan Materials from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Royal Bank Of Canada lifted their target price on Vulcan Materials from $296.00 to $298.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. Raymond James Financial set a $325.00 price target on Vulcan Materials in a research report on Thursday, April 30th. Stifel Nicolaus set a $333.00 price target on shares of Vulcan Materials in a report on Thursday, April 30th. Finally, Wells Fargo & Company raised their price objective on shares of Vulcan Materials from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $326.92.

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.