Danske Bank A S Makes New Investment in Vulcan Materials Company $VMC

Danske Bank A S purchased a new position in Vulcan Materials Company (NYSE:VMC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 63,403 shares of the construction company’s stock, valued at approximately $18,705,000.

Several other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Vulcan Materials during the 2nd quarter valued at $2,868,444,000. Norges Bank bought a new position in Vulcan Materials in the 4th quarter worth about $383,613,000. Egerton Capital UK LLP purchased a new position in Vulcan Materials during the 4th quarter valued at about $273,861,000. Bank of New York Mellon Corp purchased a new position in Vulcan Materials during the 2nd quarter valued at about $213,960,000. Finally, Deutsche Bank AG bought a new stake in shares of Vulcan Materials during the second quarter valued at about $208,673,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Stephens increased their price target on shares of Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. Wells Fargo & Company decreased their target price on shares of Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. UBS Group lowered their target price on shares of Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Finally, Citigroup cut their price target on shares of Vulcan Materials from $355.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $327.93.

Vulcan Materials Stock Performance

Shares of VMC opened at $270.63 on Friday. Vulcan Materials Company has a 12-month low of $252.35 and a 12-month high of $331.09. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47. The company has a market cap of $35.07 billion, a PE ratio of 31.95, a price-to-earnings-growth ratio of 1.99 and a beta of 1.06. The stock has a 50-day moving average price of $289.41 and a 200-day moving average price of $287.69.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. Vulcan Materials’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.42 earnings per share. As a group, equities analysts forecast that Vulcan Materials Company will post 9.29 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently declared 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 of this dividend is Thursday, August 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. Vulcan Materials’s dividend payout ratio is presently 24.56%.

Insider Activity at Vulcan Materials

In other news, SVP David P. Clement sold 2,212 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $292.29, for a total transaction of $646,545.48. Following 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 can be accessed through this link. 0.65% of the stock is owned by insiders.

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.