Bank of Nova Scotia Has $10.89 Million Stock Position in Vulcan Materials Company $VMC

Bank of Nova Scotia boosted its stake in shares of Vulcan Materials Company (NYSE:VMC) by 83.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,989 shares of the construction company’s stock after purchasing an additional 18,182 shares during the period. Bank of Nova Scotia’s holdings in Vulcan Materials were worth $10,889,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Sei Investments Co. increased its holdings in Vulcan Materials by 12.7% during the first quarter. Sei Investments Co. now owns 168,343 shares of the construction company’s stock worth $45,840,000 after buying an additional 18,971 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Vulcan Materials by 6.6% in the 1st quarter. Cetera Investment Advisers now owns 19,972 shares of the construction company’s stock valued at $5,438,000 after purchasing an additional 1,231 shares during the period. Aureus Asset Management LLC acquired a new stake in Vulcan Materials in the 1st quarter valued at about $212,000. Quantum Capital Management LLC NJ bought a new position in Vulcan Materials during the first quarter worth about $7,219,000. Finally, Andra AP fonden acquired a new position in Vulcan Materials during the first quarter worth approximately $10,899,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $292.29, for a total value of $646,545.48. Following the completion of the sale, the senior vice president owned 8,716 shares in the company, valued at approximately $2,547,599.64. This trade represents a 20.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.65% of the stock is owned by insiders.

Vulcan Materials Stock Performance

Vulcan Materials stock opened at $280.20 on Monday. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.51. The stock has a market cap of $36.36 billion, a PE ratio of 33.32, a P/E/G ratio of 2.01 and a beta of 1.05. Vulcan Materials Company has a 12-month low of $252.35 and a 12-month high of $331.09. The business’s 50-day moving average price is $286.78 and its two-hundred day moving average price is $290.55.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.25. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the business earned $1.00 earnings per share. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, analysts expect that Vulcan Materials Company will post 9.3 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th will be issued a $0.52 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. Vulcan Materials’s dividend payout ratio is currently 24.73%.

Wall Street Analysts Forecast Growth

VMC has been the subject of a number of recent analyst reports. Stephens raised their price objective on Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Morgan Stanley decreased their target price on Vulcan Materials from $322.00 to $321.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Barclays increased their price target on Vulcan Materials from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Raymond James Financial reaffirmed an “outperform” rating on shares of Vulcan Materials in a report on Wednesday, July 15th. Finally, Wall Street Zen cut shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Vulcan Materials has a consensus rating of “Moderate Buy” and a consensus target price of $327.79.

Vulcan Materials Company 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.