Golden State Wealth Management LLC Increases Position in Vulcan Materials Company (NYSE:VMC)

Golden State Wealth Management LLC increased its stake in shares of Vulcan Materials Company (NYSE:VMC) by 21.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 951 shares of the construction company’s stock after buying an additional 165 shares during the period. Golden State Wealth Management LLC’s holdings in Vulcan Materials were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in VMC. Norges Bank purchased a new stake in shares of Vulcan Materials during the 4th quarter worth approximately $380,369,000. BNP Paribas Financial Markets raised its holdings in Vulcan Materials by 239.8% during the fourth quarter. BNP Paribas Financial Markets now owns 739,003 shares of the construction company’s stock worth $190,094,000 after purchasing an additional 521,508 shares during the last quarter. Alkeon Capital Management LLC boosted its position in Vulcan Materials by 54.1% during the fourth quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company’s stock worth $329,769,000 after purchasing an additional 450,000 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Vulcan Materials by 271.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 559,643 shares of the construction company’s stock worth $143,957,000 after purchasing an additional 408,803 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Vulcan Materials by 29,580.1% in the first quarter. GAMMA Investing LLC now owns 398,010 shares of the construction company’s stock valued at $92,856,000 after purchasing an additional 396,669 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on VMC shares. Argus upgraded shares of Vulcan Materials to a “strong-buy” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. upgraded shares of Vulcan Materials from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $290.00 to $285.00 in a research report on Wednesday, March 19th. Seaport Res Ptn raised shares of Vulcan Materials to a “strong-buy” rating in a report on Friday, March 21st. Raymond James Financial dropped their price objective on shares of Vulcan Materials from $300.00 to $295.00 and set an “outperform” rating for the company in a research note on Tuesday, April 29th. Finally, Stifel Nicolaus lifted their price objective on Vulcan Materials from $287.00 to $309.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $302.91.

Insider Activity

In related news, SVP David P. Clement sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $270.00, for a total transaction of $405,000.00. Following the completion of the transaction, the senior vice president owned 2,832 shares of the company’s stock, valued at approximately $764,640. This represents a 34.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Vulcan Materials Trading Up 0.2%

Shares of Vulcan Materials stock opened at $266.24 on Friday. Vulcan Materials Company has a fifty-two week low of $215.08 and a fifty-two week high of $298.31. The business’s fifty day moving average is $264.56 and its two-hundred day moving average is $256.19. The company has a quick ratio of 1.51, a current ratio of 2.42 and a debt-to-equity ratio of 0.60. The firm has a market cap of $35.17 billion, a PE ratio of 37.76, a P/E/G ratio of 2.37 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last released its earnings results on Wednesday, April 30th. The construction company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.80 by $0.20. Vulcan Materials had a return on equity of 12.91% and a net margin of 12.50%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the prior year, the firm posted $0.80 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Analysts anticipate that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were given a $0.49 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.96 annualized dividend and a dividend yield of 0.74%. Vulcan Materials’s dividend payout ratio is presently 27.80%.

Vulcan Materials Company Profile

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.