Hsbc Holdings PLC Makes New $74.69 Million Investment in Vulcan Materials Company $VMC

Hsbc Holdings PLC purchased a new stake in shares of Vulcan Materials Company (NYSE:VMC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 252,748 shares of the construction company’s stock, valued at approximately $74,688,000. Hsbc Holdings PLC owned 0.20% of Vulcan Materials as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Vulcan Materials in the second quarter worth approximately $2,868,444,000. Geode Capital Management LLC increased its holdings in Vulcan Materials by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,576,172 shares of the construction company’s stock valued at $1,016,168,000 after buying an additional 32,012 shares during the last quarter. Bank of America Corp DE increased its holdings in Vulcan Materials by 6.1% during the second quarter. Bank of America Corp DE now owns 2,309,444 shares of the construction company’s stock valued at $602,349,000 after buying an additional 133,523 shares during the last quarter. Morgan Stanley boosted its stake in shares of Vulcan Materials by 7.9% during the 4th quarter. Morgan Stanley now owns 1,727,232 shares of the construction company’s stock worth $492,642,000 after acquiring an additional 126,523 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Vulcan Materials during the 2nd quarter worth $451,119,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

Shares of NYSE VMC opened at $273.79 on Thursday. The stock has a market cap of $35.48 billion, a PE ratio of 32.32, a price-to-earnings-growth ratio of 1.97 and a beta of 1.06. Vulcan Materials Company has a 1 year low of $252.35 and a 1 year high of $331.09. The firm has a fifty day moving average price of $287.90 and a 200-day moving average price of $286.71. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20.

Vulcan Materials (NYSE:VMC) last released its earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.42 EPS. Equities analysts anticipate that Vulcan Materials Company will post 9.29 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

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

Insider Activity at Vulcan Materials

In other news, SVP David P. Clement sold 2,212 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $292.29, for a total value of $646,545.48. Following the transaction, the senior vice president directly owned 8,716 shares in the company, valued at $2,547,599.64. The trade was a 20.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

About Vulcan Materials

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.