BTC Capital Management Inc. Increases Position in Vulcan Materials Company (VMC)
BTC Capital Management Inc. increased its stake in shares of Vulcan Materials Company (NYSE:VMC) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,607 shares of the construction company’s stock after buying an additional 468 shares during the period. BTC Capital Management Inc.’s holdings in Vulcan Materials were worth $3,245,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its position 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. Chevy Chase Trust Holdings Inc. raised its position in Vulcan Materials by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 115,100 shares of the construction company’s stock valued at $13,867,000 after buying an additional 3,541 shares in the last quarter. CENTRAL TRUST Co raised its position in Vulcan Materials by 6.6% in the first quarter. CENTRAL TRUST Co now owns 2,568 shares of the construction company’s stock valued at $309,000 after buying an additional 160 shares in the last quarter. Gulf International Bank UK Ltd raised its position in Vulcan Materials by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 41,338 shares of the construction company’s stock valued at $4,980,000 after buying an additional 500 shares in the last quarter. Finally, National Pension Service raised its position 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. Hedge funds and other institutional investors own 85.60% of the company’s stock.
Vulcan Materials Company (NYSE:VMC) opened at 114.71 on Friday. The stock’s 50 day moving average is $125.25 and its 200 day moving average is $123.85. The firm has a market cap of $15.17 billion, a price-to-earnings ratio of 36.93 and a beta of 0.93. Vulcan Materials Company has a 52 week low of $105.71 and a 52 week high of $138.18.
Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, August 2nd. The construction company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.22 by $0.32. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. Vulcan Materials’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Equities research analysts expect that Vulcan Materials Company will post $3.46 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 23rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.87%. Vulcan Materials’s payout ratio is 32.36%.
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VMC has been the topic of several research reports. Zacks Investment Research lowered shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Friday, April 21st. Citigroup Inc. reiterated a “buy” rating on shares of Vulcan Materials in a research note on Thursday, May 11th. Argus upped their price objective 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. BidaskClub upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $154.00 price target on shares of Vulcan Materials in a research note on Monday, June 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $139.67.
In related news, insider Stanley G. Bass sold 4,413 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $132.00, for a total transaction of $582,516.00. Following the transaction, the insider now directly owns 21,939 shares in the company, valued at $2,895,948. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Ejaz A. Khan sold 2,024 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $125.30, for a total transaction of $253,607.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,743 shares of company stock worth $876,515. 0.89% of the stock is owned by corporate insiders.
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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