Advisors Asset Management Inc. Acquires 1,161 Shares of Vulcan Materials Company (VMC)
Advisors Asset Management Inc. raised its stake in Vulcan Materials Company (NYSE:VMC) by 2.1% during the second quarter, Holdings Channel reports. The institutional investor owned 57,532 shares of the construction company’s stock after buying an additional 1,161 shares during the period. Advisors Asset Management Inc.’s holdings in Vulcan Materials were worth $7,288,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of VMC. Teachers Advisors LLC increased its stake in Vulcan Materials by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 148,379 shares of the construction company’s stock valued at $18,570,000 after buying an additional 7,178 shares in the last quarter. National Pension Service increased its stake in Vulcan Materials by 8.4% in the first quarter. National Pension Service now owns 115,921 shares of the construction company’s stock valued at $13,643,000 after buying an additional 9,003 shares in the last quarter. Bank of Montreal Can increased its stake in Vulcan Materials by 2.7% in the first quarter. Bank of Montreal Can now owns 36,622 shares of the construction company’s stock valued at $4,412,000 after buying an additional 954 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Vulcan Materials during the first quarter valued at approximately $328,000. Finally, Harvey Capital Management Inc. increased its stake in Vulcan Materials by 228.4% in the first quarter. Harvey Capital Management Inc. now owns 30,865 shares of the construction company’s stock valued at $3,718,000 after buying an additional 21,465 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.
Vulcan Materials Company (VMC) opened at 116.61 on Wednesday. The stock has a 50 day moving average of $123.85 and a 200-day moving average of $123.32. Vulcan Materials Company has a 12 month low of $105.71 and a 12 month high of $138.18. The firm has a market cap of $15.42 billion, a P/E ratio of 37.54 and a beta of 0.93.
Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, August 2nd. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by $0.32. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the business posted $0.90 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts predict that Vulcan Materials Company will post $3.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Wednesday, August 23rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, August 21st. Vulcan Materials’s dividend payout ratio is 32.36%.
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Several equities research analysts recently commented on VMC shares. Zacks Investment Research downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Friday, April 21st. Citigroup Inc. reiterated a “buy” rating on shares of Vulcan Materials in a research report on Thursday, May 11th. Argus lifted their target price on shares of Vulcan Materials from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, June 9th. BidaskClub upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $154.00 target price on shares of Vulcan Materials in a research report on Monday, June 19th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $139.67.
In other news, VP Ejaz A. Khan sold 2,024 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $125.30, for a total value of $253,607.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Jerry F. Perkins, Jr. sold 306 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $132.00, for a total transaction of $40,392.00. Following the completion of the transaction, the general counsel now owns 5,292 shares in the company, valued at approximately $698,544. The disclosure for this sale can be found here. Insiders sold 6,743 shares of company stock worth $876,515 in the last 90 days. Company insiders own 0.89% of the company’s stock.
Vulcan Materials Company Profile
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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