Cherokee Insurance Co Invests $756,000 in Vulcan Materials Company $VMC

Cherokee Insurance Co purchased a new stake in shares of Vulcan Materials Company (NYSE:VMC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,900 shares of the construction company’s stock, valued at approximately $756,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VMC. ORG Partners LLC lifted its holdings in shares of Vulcan Materials by 86.3% during the 2nd quarter. ORG Partners LLC now owns 95 shares of the construction company’s stock valued at $25,000 after buying an additional 44 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in Vulcan Materials during the second quarter valued at approximately $32,000. Concord Wealth Partners bought a new position in Vulcan Materials in the second quarter worth approximately $33,000. Manchester Capital Management LLC boosted its stake in shares of Vulcan Materials by 26.9% during the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company’s stock worth $43,000 after acquiring an additional 39 shares during the last quarter. Finally, Steph & Co. purchased a new position in shares of Vulcan Materials during the 2nd quarter worth $55,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on VMC. Morgan Stanley decreased their target price on Vulcan Materials from $303.00 to $285.00 and set an “equal weight” rating on the stock in a report on Monday, July 28th. Raymond James Financial raised their price objective on Vulcan Materials from $295.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. DA Davidson boosted their price objective on Vulcan Materials from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Royal Bank Of Canada reduced their target price on shares of Vulcan Materials from $279.00 to $278.00 and set a “sector perform” rating for the company in a report on Friday, October 31st. Finally, Stifel Nicolaus set a $327.00 price target on shares of Vulcan Materials in a report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Vulcan Materials currently has a consensus rating of “Moderate Buy” and an average target price of $317.58.

Insider Buying and Selling at Vulcan Materials

In other Vulcan Materials news, President Thompson S. Baker II sold 5,818 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $292.26, for a total transaction of $1,700,368.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David P. Clement sold 698 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $298.56, for a total value of $208,394.88. Following the transaction, the senior vice president owned 2,832 shares of the company’s stock, valued at approximately $845,521.92. The trade was a 19.77% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.62% of the stock is owned by insiders.

Vulcan Materials Stock Up 0.0%

Shares of VMC opened at $295.20 on Thursday. The business’s 50 day moving average is $296.47 and its 200 day moving average is $280.29. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. Vulcan Materials Company has a 12-month low of $215.08 and a 12-month high of $311.74. The company has a market capitalization of $39.00 billion, a PE ratio of 41.23, a price-to-earnings-growth ratio of 2.39 and a beta of 0.95.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.12. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The company’s revenue was up 14.4% on a year-over-year basis. During the same period last year, the firm posted $2.22 EPS. Research analysts expect that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Monday, November 10th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, November 10th. Vulcan Materials’s payout ratio is currently 23.28%.

Vulcan Materials Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.