Alpine Woods Capital Investors LLC raised its stake in Vulcan Materials Company (NYSE:VMC) by 20.0% during the second quarter, Holdings Channel reports. The institutional investor owned 12,600 shares of the construction company’s stock after buying an additional 2,100 shares during the period. Alpine Woods Capital Investors LLC’s holdings in Vulcan Materials were worth $1,596,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Vulcan Materials by 3.2% in the first quarter. Vanguard Group Inc. now owns 13,039,804 shares of the construction company’s stock worth $1,571,036,000 after buying an additional 409,777 shares during the period. BlackRock Inc. boosted its stake in shares of Vulcan Materials by 2,909.7% in the first quarter. BlackRock Inc. now owns 8,067,195 shares of the construction company’s stock worth $971,936,000 after buying an additional 7,799,158 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Vulcan Materials by 10.6% in the first quarter. JPMorgan Chase & Co. now owns 4,647,016 shares of the construction company’s stock worth $559,872,000 after buying an additional 443,701 shares during the period. Geode Capital Management LLC boosted its stake in shares of Vulcan Materials by 9.4% in the first quarter. Geode Capital Management LLC now owns 1,249,739 shares of the construction company’s stock worth $150,345,000 after buying an additional 107,089 shares during the period. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of Vulcan Materials during the first quarter worth about $138,381,000. 84.88% of the stock is owned by institutional investors and hedge funds.
Shares of Vulcan Materials Company (NYSE VMC) opened at 116.61 on Wednesday. The company has a 50 day moving average price of $123.85 and a 200-day moving average price of $123.32. Vulcan Materials Company has a 12 month low of $105.71 and a 12 month high of $138.18. The firm has a market capitalization of $15.42 billion, a PE ratio of 37.54 and a beta of 0.93.
Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by $0.32. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Equities research analysts expect that Vulcan Materials Company will post $3.46 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Wednesday, August 23rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.86%. Vulcan Materials’s dividend payout ratio is presently 32.36%.
A number of analysts recently issued reports on VMC shares. Zacks Investment Research cut Vulcan Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Argus upped their target price on Vulcan Materials from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, June 9th. Citigroup Inc. reissued a “buy” rating on shares of Vulcan Materials in a research report on Thursday, May 11th. Royal Bank Of Canada reissued a “buy” rating and issued a $154.00 target price on shares of Vulcan Materials in a research report on Monday, June 19th. Finally, BidaskClub cut Vulcan Materials from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $139.67.
In other news, VP Ejaz A. Khan sold 2,024 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $125.30, for a total transaction of $253,607.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Jerry F. Perkins, Jr. sold 306 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $132.00, for a total value of $40,392.00. Following the transaction, 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 quarter, insiders have sold 6,743 shares of company stock valued at $876,515. Insiders own 0.89% of the company’s stock.
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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