DAVENPORT & Co LLC Purchases 613 Shares of Vulcan Materials Company $VMC

DAVENPORT & Co LLC increased its position in Vulcan Materials Company (NYSE:VMC) by 5.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,317 shares of the construction company’s stock after purchasing an additional 613 shares during the quarter. DAVENPORT & Co LLC’s holdings in Vulcan Materials were worth $2,952,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of VMC. ORG Partners LLC raised its stake in Vulcan Materials by 86.3% in the second 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. Opal Wealth Advisors LLC bought a new stake in Vulcan Materials in the first quarter valued at approximately $27,000. Manchester Capital Management LLC raised its stake in Vulcan Materials by 26.9% in the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company’s stock valued at $43,000 after acquiring an additional 39 shares during the period. Wayfinding Financial LLC bought a new stake in Vulcan Materials in the 1st quarter valued at $45,000. Finally, Steph & Co. bought a new stake in Vulcan Materials in the 2nd quarter valued at $55,000. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Stock Up 1.2%

Shares of VMC opened at $304.43 on Thursday. Vulcan Materials Company has a 12 month low of $215.08 and a 12 month high of $309.17. The firm’s 50 day moving average is $293.20 and its 200-day moving average is $270.02. The stock has a market capitalization of $40.22 billion, a PE ratio of 42.52, a P/E/G ratio of 2.46 and a beta of 0.92. 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 (NYSE:VMC) last announced its earnings results on Thursday, July 31st. The construction company reported $2.45 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.20). Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the business posted $2.35 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th were given a $0.49 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.6%. Vulcan Materials’s dividend payout ratio (DPR) is presently 27.37%.

Insider Activity at Vulcan Materials

In related news, SVP David P. Clement sold 698 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was 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 in the company, valued at approximately $845,521.92. This trade represents a 19.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on VMC shares. Wells Fargo & Company initiated coverage on Vulcan Materials in a research note on Tuesday. They issued an “equal weight” rating and a $311.00 price target on the stock. Citigroup reissued a “buy” rating and issued a $321.00 price objective (up from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. Royal Bank Of Canada lowered their price target on shares of Vulcan Materials from $286.00 to $279.00 and set a “sector perform” rating on the stock in a report on Friday, August 1st. JPMorgan Chase & Co. increased their price target on shares of Vulcan Materials from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. Finally, Barclays increased their price target on shares of Vulcan Materials from $285.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Vulcan Materials presently has a consensus rating of “Moderate Buy” and an average target price of $308.58.

Vulcan Materials Company 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.