Vulcan Materials Company $VMC Shares Purchased by Parallel Advisors LLC

Parallel Advisors LLC boosted its holdings in Vulcan Materials Company (NYSE:VMC) by 25.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,770 shares of the construction company’s stock after buying an additional 360 shares during the period. Parallel Advisors LLC’s holdings in Vulcan Materials were worth $462,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Vulcan Materials by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 16,699,662 shares of the construction company’s stock worth $3,896,031,000 after purchasing an additional 347,155 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Vulcan Materials by 5.6% in the 1st quarter. JPMorgan Chase & Co. now owns 6,967,777 shares of the construction company’s stock worth $1,625,583,000 after purchasing an additional 370,434 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Vulcan Materials by 7.4% in the 1st quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company’s stock worth $1,518,291,000 after purchasing an additional 445,691 shares during the period. Alkeon Capital Management LLC raised its holdings in shares of Vulcan Materials by 4.4% in the 1st quarter. Alkeon Capital Management LLC now owns 1,338,346 shares of the construction company’s stock worth $312,236,000 after purchasing an additional 56,345 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Vulcan Materials by 4.4% in the 1st quarter. Invesco Ltd. now owns 1,214,868 shares of the construction company’s stock worth $283,429,000 after purchasing an additional 50,968 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Price Performance

VMC stock opened at $297.51 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $302.21. The stock’s 50 day moving average is $284.65 and its two-hundred day moving average is $263.80. The company has a market capitalization of $39.31 billion, a PE ratio of 41.55, a P/E/G ratio of 2.44 and a beta of 0.86.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.65 by ($0.20). Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the prior year, the firm earned $2.35 earnings per share. Vulcan Materials’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th were issued a dividend of $0.49 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.96 annualized dividend and a yield of 0.7%. Vulcan Materials’s payout ratio is currently 27.37%.

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 698 shares of Vulcan Materials stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $298.56, for a total transaction of $208,394.88. Following the sale, the senior vice president directly owned 2,832 shares in the company, valued at $845,521.92. The trade was a 19.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Citigroup restated a “buy” rating and issued a $321.00 price objective (up from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Barclays raised their price objective on Vulcan Materials from $285.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. 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. JPMorgan Chase & Co. boosted their price target on Vulcan Materials from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 26th. Finally, Royal Bank Of Canada reduced their price target on Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating on the stock in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $308.36.

Vulcan Materials 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.