Crescent Grove Advisors LLC Takes Position in Vulcan Materials Company (NYSE:VMC)
Crescent Grove Advisors LLC purchased a new position in Vulcan Materials Company (NYSE:VMC) during the second quarter, Holdings Channel reports. The fund purchased 38,299 shares of the construction company’s stock, valued at approximately $4,852,000. Vulcan Materials makes up approximately 1.4% of Crescent Grove Advisors LLC’s investment portfolio, making the stock its 14th largest position.
Other institutional investors also recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its position in shares of Vulcan Materials by 2.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 418,466 shares of the construction company’s stock worth $53,012,000 after buying an additional 11,647 shares in the last quarter. Wetherby Asset Management Inc. acquired a new position in Vulcan Materials during the second quarter valued at $203,000. Global X Management Co. LLC boosted its position in Vulcan Materials by 27.0% in the second quarter. Global X Management Co. LLC now owns 5,975 shares of the construction company’s stock valued at $757,000 after buying an additional 1,271 shares during the period. Pioneer Investment Management Inc. boosted its position in Vulcan Materials by 17.1% in the second quarter. Pioneer Investment Management Inc. now owns 160,341 shares of the construction company’s stock valued at $20,312,000 after buying an additional 23,403 shares during the period. Finally, Advisor Partners LLC acquired a new position in Vulcan Materials during the second quarter valued at $204,000. 85.60% of the stock is currently owned by hedge funds and other institutional investors.
Vulcan Materials Company (VMC) opened at 114.71 on Friday. The stock has a market cap of $15.17 billion, a PE ratio of 36.93 and a beta of 0.93. Vulcan Materials Company has a 1-year low of $105.71 and a 1-year high of $138.18. The firm’s 50-day moving average price is $125.25 and its 200 day moving average price is $123.85.
Vulcan Materials (NYSE:VMC) last announced its quarterly 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 business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company earned $0.90 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. Equities research analysts expect that Vulcan Materials Company will post $3.46 EPS for the current year.
The company also recently disclosed 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 is Monday, August 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.87%. Vulcan Materials’s payout ratio is presently 32.36%.
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VMC has been the topic of several research analyst reports. Zacks Investment Research cut Vulcan Materials from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Argus lifted their target price on Vulcan Materials from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, June 9th. Citigroup Inc. reaffirmed a “buy” rating on shares of Vulcan Materials in a research note on Thursday, May 11th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $154.00 target price on shares of Vulcan Materials in a research note on Monday, June 19th. Finally, BidaskClub cut Vulcan Materials from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $139.67.
In related news, VP Ejaz A. Khan sold 2,024 shares of the stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $125.30, for a total transaction of $253,607.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stanley G. Bass sold 4,413 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $132.00, for a total value of $582,516.00. Following the transaction, the insider now owns 21,939 shares of the company’s stock, valued at $2,895,948. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,743 shares of company stock valued at $876,515. 0.89% of the stock is owned by corporate insiders.
About Vulcan Materials
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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