1832 Asset Management L.P. Buys New Position in Vulcan Materials Company $VMC

1832 Asset Management L.P. purchased a new position in shares of Vulcan Materials Company (NYSE:VMC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,400 shares of the construction company’s stock, valued at approximately $4,017,000.

Several other large investors also recently bought and sold shares of the company. ORG Partners LLC lifted its position in shares of Vulcan Materials by 86.3% during the second quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in Vulcan Materials in the 2nd quarter worth $32,000. Concord Wealth Partners acquired a new position in Vulcan Materials in the 2nd quarter worth $33,000. Steph & Co. purchased a new position in Vulcan Materials in the 2nd quarter valued at about $55,000. Finally, Clearstead Trust LLC grew its stake in shares of Vulcan Materials by 71.7% during the second quarter. Clearstead Trust LLC now owns 218 shares of the construction company’s stock valued at $57,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Stock Up 0.5%

VMC stock opened at $295.13 on Friday. The firm has a market cap of $39.00 billion, a price-to-earnings ratio of 35.05, a PEG ratio of 2.40 and a beta of 1.06. Vulcan Materials Company has a 1-year low of $215.08 and a 1-year high of $311.74. The firm has a fifty day moving average price of $294.21 and a two-hundred day moving average price of $282.92. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.23 and a quick ratio of 1.56.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Thursday, October 30th. The construction company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.72 by $0.12. Vulcan Materials had a net margin of 14.19% and a return on equity of 13.47%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the business posted $2.22 EPS. The company’s quarterly revenue was up 14.4% on a year-over-year basis. Research analysts predict that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Monday, November 10th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, November 10th. Vulcan Materials’s payout ratio is presently 23.28%.

Insider Activity at Vulcan Materials

In other news, President Thompson S. Baker II sold 5,818 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $292.26, for a total transaction of $1,700,368.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP David P. Clement sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $288.55, for a total value of $577,100.00. Following the completion of the sale, the senior vice president directly owned 832 shares in the company, valued at approximately $240,073.60. This trade represents a 70.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,369 shares of company stock valued at $3,920,556 over the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. DA Davidson boosted 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Vulcan Materials in a research report on Thursday, October 30th. Stifel Nicolaus set a $327.00 price target on shares of Vulcan Materials in a research report on Monday, November 3rd. Barclays lifted their price target on shares of Vulcan Materials from $305.00 to $320.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Raymond James Financial increased their price objective on shares of Vulcan Materials from $295.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Two investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $317.58.

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.