Proficio Capital Partners LLC Purchases New Position in Vulcan Materials Company $VMC

Proficio Capital Partners LLC bought a new stake in Vulcan Materials Company (NYSE:VMC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,266 shares of the construction company’s stock, valued at approximately $668,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Corient Private Wealth LP purchased a new stake in Vulcan Materials in the 2nd quarter valued at approximately $10,396,000. Perennial Investment Advisors LLC acquired a new stake in Vulcan Materials in the 2nd quarter valued at about $203,000. Bamco Inc. NY acquired a new position in shares of Vulcan Materials during the 2nd quarter worth approximately $64,444,000. Bank of America Corp DE purchased a new stake in shares of Vulcan Materials in the second quarter valued at $688,580,000. Finally, Birmingham Capital Management Co. Inc. AL acquired a new stake in shares of Vulcan Materials during the 2nd quarter worth about $420,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Stock Performance

Shares of NYSE VMC opened at $273.79 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average price is $287.90 and its two-hundred day moving average price is $286.71. Vulcan Materials Company has a 52-week low of $252.35 and a 52-week high of $331.09. The stock has a market capitalization of $35.48 billion, a P/E ratio of 32.32, a P/E/G ratio of 1.97 and a beta of 1.06.

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

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, August 13th. Vulcan Materials’s dividend payout ratio (DPR) is presently 24.56%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Stephens lifted their price objective on Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. Royal Bank Of Canada upped their price objective on shares of Vulcan Materials from $293.00 to $300.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Barclays raised their target price on Vulcan Materials from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Wall Street Zen lowered Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $328.64.

Insider Activity

In other news, SVP David P. Clement sold 2,212 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $292.29, for a total transaction of $646,545.48. Following the completion of the transaction, the senior vice president owned 8,716 shares in the company, valued at approximately $2,547,599.64. This represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.65% of the company’s stock.

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.