Evolve Private Wealth LLC Invests $846,000 in Vulcan Materials Company $VMC

Evolve Private Wealth LLC acquired a new stake in shares of Vulcan Materials Company (NYSE:VMC) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,868 shares of the construction company’s stock, valued at approximately $846,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VMC. BlackRock Inc. bought a new stake in Vulcan Materials in the 2nd quarter valued at $2,868,444,000. Geode Capital Management LLC lifted its holdings in shares of Vulcan Materials by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 3,576,172 shares of the construction company’s stock worth $1,016,168,000 after acquiring an additional 32,012 shares during the period. Bank of America Corp DE lifted its holdings in shares of Vulcan Materials by 6.1% during the 2nd quarter. Bank of America Corp DE now owns 2,309,444 shares of the construction company’s stock worth $602,349,000 after acquiring an additional 133,523 shares during the period. Morgan Stanley boosted its position in shares of Vulcan Materials by 7.9% during the 4th quarter. Morgan Stanley now owns 1,727,232 shares of the construction company’s stock valued at $492,642,000 after acquiring an additional 126,523 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Vulcan Materials by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,346,422 shares of the construction company’s stock valued at $366,592,000 after acquiring an additional 24,187 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Stock Down 0.2%

Shares of Vulcan Materials stock opened at $275.48 on Monday. Vulcan Materials Company has a 12 month low of $252.35 and a 12 month high of $331.09. The business has a fifty day simple moving average of $289.19 and a 200 day simple moving average of $287.48. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. The stock has a market cap of $35.70 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 1.99 and a beta of 1.06.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.13. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the business earned $2.42 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. Research analysts predict that Vulcan Materials Company will post 9.29 EPS for the current year.

Vulcan Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, August 13th will be given a $0.52 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. Vulcan Materials’s dividend payout ratio is currently 24.56%.

Analyst Upgrades and Downgrades

VMC has been the subject of several recent research reports. Stifel Nicolaus set a $333.00 price target on shares of Vulcan Materials in a research report on Thursday, April 30th. Wall Street Zen downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. Wells Fargo & Company lowered their price objective on Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Vulcan Materials in a report on Wednesday, July 15th. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $327.93.

Insider Buying and Selling

In other Vulcan Materials news, SVP David P. Clement sold 2,000 shares of Vulcan Materials stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $285.10, for a total transaction of $570,200.00. Following the transaction, the senior vice president directly owned 6,716 shares in the company, valued at approximately $1,914,731.60. The trade was a 22.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.65% of the company’s stock.

Vulcan Materials Company Profile

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.