Vulcan Materials Company $VMC Shares Purchased by MAI Capital Management

by · The Cerbat Gem

MAI Capital Management increased its position in shares of Vulcan Materials Company (NYSE:VMC – Free Report) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,511 shares of the construction company’s stock after acquiring an additional 261 shares during the quarter. MAI Capital Management’s holdings in Vulcan Materials were worth $9,262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Vulcan Materials by 1.2% in the second quarter. Vanguard Group Inc. now owns 16,895,644 shares of the construction company’s stock worth $4,406,722,000 after acquiring an additional 195,982 shares during the period. JPMorgan Chase & Co. increased its position in shares of Vulcan Materials by 12.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,824,987 shares of the construction company’s stock worth $2,040,914,000 after purchasing an additional 857,210 shares during the last quarter. Geode Capital Management LLC raised its holdings in Vulcan Materials by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,491,618 shares of the construction company’s stock valued at $906,961,000 after buying an additional 27,531 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Vulcan Materials by 7.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,872,652 shares of the construction company’s stock valued at $495,635,000 after buying an additional 130,949 shares during the last quarter. Finally, Alkeon Capital Management LLC boosted its stake in Vulcan Materials by 4.4% during the first quarter. Alkeon Capital Management LLC now owns 1,338,346 shares of the construction company’s stock worth $312,236,000 after buying an additional 56,345 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insider Buying and Selling at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $298.56, for a total value of $208,394.88. Following the sale, the senior vice president directly owned 2,832 shares in the company, valued at $845,521.92. This trade represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Thompson S. Baker II sold 5,818 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $292.26, for a total value of $1,700,368.68. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,369 shares of company stock worth $3,343,456 in the last three months. 0.62% of the stock is currently owned by corporate insiders.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $287.97 on Friday. The stock’s 50-day moving average is $294.78 and its two-hundred day moving average is $281.33. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13. Vulcan Materials Company has a 1-year low of $215.08 and a 1-year high of $311.74. The company has a market cap of $38.05 billion, a price-to-earnings ratio of 40.22, a price-to-earnings-growth ratio of 2.39 and a beta of 0.95.

Vulcan Materials (NYSE:VMC – Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.12. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the firm earned $2.22 earnings per share. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. Analysts forecast that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Monday, November 10th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, November 10th. Vulcan Materials’s dividend payout ratio is 23.28%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on VMC. JPMorgan Chase & Co. boosted their price target on shares of Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Vulcan Materials in a research report on Thursday, October 30th. DA Davidson upped their price target on Vulcan Materials from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Morgan Stanley cut their price objective on Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating on the stock in a report on Monday, July 28th. Finally, Citigroup decreased their target price on Vulcan Materials from $356.00 to $342.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $317.58.

View Our Latest Analysis on Vulcan Materials

Vulcan Materials Profile

(Free Report)

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.

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