First Mercantile Trust Co. Purchases Shares of 6,220 Vulcan Materials Co. (VMC)
First Mercantile Trust Co. purchased a new stake in Vulcan Materials Co. (NYSE:VMC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,220 shares of the company’s stock, valued at approximately $749,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Vulcan Materials during the fourth quarter valued at $93,376,000. Caledonia Private Investments Pty Ltd raised its stake in Vulcan Materials by 19.3% in the first quarter. Caledonia Private Investments Pty Ltd now owns 753,253 shares of the company’s stock valued at $79,521,000 after buying an additional 121,944 shares in the last quarter. New York State Teachers Retirement System raised its stake in Vulcan Materials by 0.8% in the second quarter. New York State Teachers Retirement System now owns 230,609 shares of the company’s stock valued at $27,756,000 after buying an additional 1,901 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Vulcan Materials by 51.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 296,158 shares of the company’s stock valued at $31,265,000 after buying an additional 100,300 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Vulcan Materials by 2.1% in the first quarter. Geode Capital Management LLC now owns 1,078,909 shares of the company’s stock valued at $113,670,000 after buying an additional 22,325 shares in the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.
Vulcan Materials Co. (NYSE:VMC) opened at 107.10 on Wednesday. Vulcan Materials Co. has a 12-month low of $78.83 and a 12-month high of $127.20. The firm’s 50-day moving average is $115.36 and its 200-day moving average is $114.23. The stock has a market capitalization of $14.25 billion, a P/E ratio of 40.86 and a beta of 1.36.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Monday, August 1st. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $956.80 million for the quarter, compared to analysts’ expectations of $1.01 billion. Vulcan Materials had a net margin of 9.85% and a return on equity of 8.74%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS. Analysts predict that Vulcan Materials Co. will post $3.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 24th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Monday, August 22nd. Vulcan Materials’s payout ratio is 30.65%.
Several analysts have recently weighed in on the stock. Jefferies Group reiterated a “hold” rating on shares of Vulcan Materials in a research note on Wednesday, August 31st. Argus reiterated a “buy” rating and issued a $129.00 price objective on shares of Vulcan Materials in a research note on Wednesday, August 3rd. Zacks Investment Research lowered shares of Vulcan Materials from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Royal Bank Of Canada boosted their price target on shares of Vulcan Materials from $127.00 to $140.00 and gave the company an “outperform” rating in a research note on Tuesday, July 12th. Finally, Bank of America Corp. restated a “buy” rating on shares of Vulcan Materials in a research note on Friday, June 17th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Vulcan Materials currently has a consensus rating of “Buy” and a consensus target price of $128.22.
In related news, insider David B. Pasley sold 280 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $117.55, for a total value of $32,914.00. Following the completion of the sale, the insider now owns 2,470 shares of the company’s stock, valued at $290,348.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stanley G. Bass sold 829 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $121.07, for a total value of $100,367.03. Following the completion of the sale, the insider now directly owns 15,185 shares of the company’s stock, valued at approximately $1,838,447.95. The disclosure for this sale can be found here. 0.92% of the stock is owned by corporate insiders.
About Vulcan Materials
Vulcan Materials Company is a producer of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company has four segments organized around its principal product lines: Aggregates, Asphalt Mix, Concrete and Calcium. The Company operates approximately 344 aggregates facilities.
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