CIBC Asset Management Inc boosted its stake in shares of Vulcan Materials Company (NYSE:VMC) by 2.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 13,690 shares of the construction company’s stock after buying an additional 382 shares during the period. CIBC Asset Management Inc’s holdings in Vulcan Materials were worth $1,734,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. Teachers Advisors LLC boosted its stake in Vulcan Materials by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 148,379 shares of the construction company’s stock valued at $18,570,000 after buying an additional 7,178 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in Vulcan Materials by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 115,100 shares of the construction company’s stock valued at $13,867,000 after buying an additional 3,541 shares during the last quarter. CENTRAL TRUST Co boosted its stake in Vulcan Materials by 6.6% in the first quarter. CENTRAL TRUST Co now owns 2,568 shares of the construction company’s stock valued at $309,000 after buying an additional 160 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in Vulcan Materials by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 41,338 shares of the construction company’s stock valued at $4,980,000 after buying an additional 500 shares during the last quarter. Finally, National Pension Service boosted its stake in Vulcan Materials by 8.4% in the first quarter. National Pension Service now owns 115,921 shares of the construction company’s stock valued at $13,643,000 after buying an additional 9,003 shares during the last quarter. 85.60% of the stock is currently owned by institutional investors and hedge funds.
Shares of Vulcan Materials Company (NYSE VMC) opened at 117.88 on Thursday. The stock has a 50 day moving average price of $125.63 and a 200-day moving average price of $123.92. Vulcan Materials Company has a 12 month low of $105.71 and a 12 month high of $138.18. The company has a market capitalization of $15.61 billion, a PE ratio of 37.95 and a beta of 0.93.
Vulcan Materials (NYSE:VMC) last announced its earnings results on Wednesday, August 2nd. The construction company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by $0.32. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.07 billion. Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. Vulcan Materials’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $0.90 earnings per share. Analysts forecast that Vulcan Materials Company will post $3.59 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Wednesday, August 23rd will be paid a $0.25 dividend. The ex-dividend date is Monday, August 21st. This represents a $1.00 annualized dividend and a yield of 0.85%. Vulcan Materials’s dividend payout ratio (DPR) is 32.36%.
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VMC has been the topic of several research reports. Zacks Investment Research cut Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Friday, April 21st. Citigroup Inc. reaffirmed a “buy” rating on shares of Vulcan Materials in a research report on Thursday, May 11th. Argus lifted their price objective on Vulcan Materials from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, June 9th. BidaskClub raised Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $154.00 price target on shares of Vulcan Materials in a research report on Monday, June 19th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Vulcan Materials currently has a consensus rating of “Hold” and a consensus price target of $139.67.
In other Vulcan Materials news, VP Ejaz A. Khan sold 2,024 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $125.30, for a total value of $253,607.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Jerry F. Perkins, Jr. sold 306 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $132.00, for a total transaction of $40,392.00. Following the completion of the sale, the general counsel now owns 5,292 shares of the company’s stock, valued at $698,544. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,743 shares of company stock valued at $876,515. 0.89% of the stock is owned by insiders.
Vulcan Materials Company Profile
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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