Artisan Partners Limited Partnership Acquires Shares of 4,638 Vulcan Materials Company (VMC)
Artisan Partners Limited Partnership acquired a new stake in Vulcan Materials Company (NYSE:VMC) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,638 shares of the construction company’s stock, valued at approximately $588,000.
Several other hedge funds and other institutional investors have also bought and sold shares of VMC. BlackRock Inc. raised its holdings in shares of Vulcan Materials by 2,909.7% in the first quarter. BlackRock Inc. now owns 8,067,195 shares of the construction company’s stock valued at $971,936,000 after purchasing an additional 7,799,158 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new position in shares of Vulcan Materials in the first quarter valued at $138,381,000. Marshall Wace North America L.P. bought a new position in shares of Vulcan Materials in the first quarter valued at $138,381,000. Point72 Asset Management L.P. grew its stake in shares of Vulcan Materials by 226.1% in the first quarter. Point72 Asset Management L.P. now owns 950,200 shares of the construction company’s stock valued at $114,480,000 after buying an additional 658,800 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Vulcan Materials by 10.6% in the first quarter. JPMorgan Chase & Co. now owns 4,647,016 shares of the construction company’s stock valued at $559,872,000 after buying an additional 443,701 shares in the last quarter. Institutional investors own 87.13% of the company’s stock.
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In other Vulcan Materials news, insider David B. Pasley sold 1,250 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $121.51, for a total value of $151,887.50. Following the completion of the transaction, the insider now owns 2,857 shares in the company, valued at approximately $347,154.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael R. Mills sold 981 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $117.55, for a total value of $115,316.55. Following the completion of the transaction, the insider now owns 23,871 shares of the company’s stock, valued at approximately $2,806,036.05. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.
Vulcan Materials Company (NYSE VMC) opened at 117.00 on Friday. The company has a market capitalization of $15.48 billion, a PE ratio of 37.67 and a beta of 0.94. The company has a 50 day moving average of $117.19 and a 200 day moving average of $122.24. Vulcan Materials Company has a 1-year low of $105.71 and a 1-year high of $138.18.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.32). The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 earnings per share. On average, analysts predict that Vulcan Materials Company will post $3.39 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Wednesday, August 23rd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Monday, August 21st. Vulcan Materials’s payout ratio is currently 32.36%.
Several equities analysts recently weighed in on the stock. BidaskClub raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Argus raised their target price on shares of Vulcan Materials from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, June 9th. Zacks Investment Research raised shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Tuesday, June 20th. Royal Bank Of Canada reissued a “buy” rating and issued a $154.00 target price on shares of Vulcan Materials in a research note on Monday, June 19th. Finally, Stephens raised shares of Vulcan Materials from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $140.00 to $145.00 in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $136.00.
Vulcan Materials 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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