Allstate Corp Invests $1.63 Million in Vulcan Materials Company $VMC

Allstate Corp bought a new stake in Vulcan Materials Company (NYSE:VMC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,308 shares of the construction company’s stock, valued at approximately $1,633,000.

A number of other hedge funds also recently made changes to their positions in VMC. ORG Partners LLC raised its holdings in shares of Vulcan Materials by 86.3% in the 2nd quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock worth $25,000 after buying an additional 44 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Vulcan Materials during the second quarter worth $32,000. Concord Wealth Partners acquired a new stake in shares of Vulcan Materials during the 2nd quarter worth approximately $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Vulcan Materials during the 3rd quarter valued at $42,000. Finally, Bayforest Capital Ltd acquired a new stake in shares of Vulcan Materials in the 3rd quarter valued at approximately $46,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Insider Transactions at Vulcan Materials

In other news, SVP David P. Clement sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $288.55, for a total value of $577,100.00. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Thompson S. Baker II sold 7,135 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $300.81, for a total value of $2,146,279.35. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 20,471 shares of company stock valued at $6,054,615. 0.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

VMC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Barclays raised their target price on shares of Vulcan Materials from $305.00 to $320.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Stifel Nicolaus set a $327.00 price target on shares of Vulcan Materials in a research note on Monday, November 3rd. B. Riley initiated coverage on shares of Vulcan Materials in a research report on Thursday, January 15th. They set a “buy” rating and a $345.00 price target on the stock. Finally, DA Davidson restated a “neutral” rating and issued a $330.00 price objective on shares of Vulcan Materials in a report on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $319.92.

Vulcan Materials Stock Performance

NYSE VMC opened at $296.23 on Wednesday. The firm’s 50 day simple moving average is $293.68 and its 200 day simple moving average is $290.44. The firm has a market capitalization of $39.14 billion, a price-to-earnings ratio of 35.18, a P/E/G ratio of 2.32 and a beta of 1.06. The company has a current ratio of 2.23, a quick ratio of 1.56 and a debt-to-equity ratio of 0.50. Vulcan Materials Company has a 1 year low of $215.08 and a 1 year high of $313.37.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data 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 the consensus estimate of $2.28 billion. During the same period in the previous year, the business earned $2.22 earnings per share. The company’s revenue was up 14.4% on a year-over-year basis. As a group, research analysts expect that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Profile

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.