Vulcan Materials Company $VMC Shares Bought by MAI Capital Management

MAI Capital Management grew its position in Vulcan Materials Company (NYSE:VMC) by 10.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,275 shares of the construction company’s stock after acquiring an additional 3,764 shares during the quarter. MAI Capital Management’s holdings in Vulcan Materials were worth $12,082,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in VMC. Vanguard Group Inc. boosted its holdings in Vulcan Materials by 1.8% in the third quarter. Vanguard Group Inc. now owns 17,207,183 shares of the construction company’s stock worth $5,293,274,000 after purchasing an additional 311,539 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Vulcan Materials by 1.3% during the third quarter. JPMorgan Chase & Co. now owns 7,924,285 shares of the construction company’s stock worth $2,437,669,000 after purchasing an additional 99,298 shares during the period. Principal Financial Group Inc. lifted its position in shares of Vulcan Materials by 5.8% in the 3rd quarter. Principal Financial Group Inc. now owns 7,625,271 shares of the construction company’s stock worth $2,345,703,000 after buying an additional 414,828 shares during the last quarter. State Street Corp boosted its holdings in shares of Vulcan Materials by 1.7% in the 2nd quarter. State Street Corp now owns 5,558,791 shares of the construction company’s stock valued at $1,449,844,000 after buying an additional 95,256 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Vulcan Materials by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,491,618 shares of the construction company’s stock valued at $906,961,000 after buying an additional 27,531 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on VMC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Vulcan Materials in a research note on Tuesday, January 27th. Stifel Nicolaus set a $327.00 price target on Vulcan Materials in a research report on Monday, November 3rd. Citigroup raised their price target on Vulcan Materials from $342.00 to $345.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Wells Fargo & Company lowered their price objective on Vulcan Materials from $317.00 to $315.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. Finally, DA Davidson cut their target price on Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.64.

Vulcan Materials Stock Performance

Shares of NYSE VMC opened at $305.61 on Thursday. Vulcan Materials Company has a 12-month low of $215.08 and a 12-month high of $331.09. The company has a market cap of $39.91 billion, a PE ratio of 37.64, a P/E/G ratio of 2.34 and a beta of 1.07. The stock has a 50 day simple moving average of $303.65 and a 200-day simple moving average of $297.27. The company has a current ratio of 2.69, a quick ratio of 1.97 and a debt-to-equity ratio of 0.51.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Tuesday, February 17th. The construction company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.41). Vulcan Materials had a net margin of 13.56% and a return on equity of 12.56%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the firm earned $2.17 EPS. The firm’s revenue was up 3.2% on a year-over-year basis. On average, equities research analysts forecast that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 9th. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.49. This represents a $2.08 annualized dividend and a yield of 0.7%. Vulcan Materials’s dividend payout ratio is currently 24.14%.

Insider Buying and Selling

In related news, SVP Denson N. Franklin III sold 665 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $295.00, for a total value of $196,175.00. Following the completion of the transaction, the senior vice president owned 8,284 shares in the company, valued at $2,443,780. This represents a 7.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Melissa H. Anderson sold 1,137 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $303.72, for a total transaction of $345,329.64. The SEC filing for this sale provides additional information. Insiders sold 8,937 shares of company stock valued at $2,687,784 over the last 90 days. 0.62% of the stock is currently owned by company insiders.

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.