Global X Management Co. LLC Has $757,000 Position in Vulcan Materials Company (VMC)
Global X Management Co. LLC increased its position in shares of Vulcan Materials Company (NYSE:VMC) by 27.0% during the second quarter, Holdings Channel reports. The firm owned 5,975 shares of the construction company’s stock after buying an additional 1,271 shares during the period. Global X Management Co. LLC’s holdings in Vulcan Materials were worth $757,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Candriam Luxembourg S.C.A. raised its stake in Vulcan Materials by 202.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 60,077 shares of the construction company’s stock worth $7,238,000 after buying an additional 40,200 shares during the period. Westwood Management Corp IL raised its stake in shares of Vulcan Materials by 3.1% in the first quarter. Westwood Management Corp IL now owns 67,300 shares of the construction company’s stock valued at $8,108,000 after buying an additional 2,000 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Vulcan Materials by 1.1% in the first quarter. Retirement Systems of Alabama now owns 120,732 shares of the construction company’s stock valued at $14,546,000 after buying an additional 1,268 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Vulcan Materials during the first quarter valued at approximately $725,000. Finally, Ledyard National Bank acquired a new stake in shares of Vulcan Materials during the first quarter valued at approximately $1,495,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.
Vulcan Materials Company (NYSE:VMC) opened at 116.61 on Wednesday. The company’s 50-day moving average price is $123.85 and its 200-day moving average price is $123.32. The firm has a market capitalization of $15.42 billion, a P/E ratio of 37.54 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.
Vulcan Materials (NYSE:VMC) last posted its earnings results on Wednesday, August 2nd. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by $0.32. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 earnings per share. Equities research analysts expect that Vulcan Materials Company will post $3.46 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 23rd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.86%. Vulcan Materials’s payout ratio is presently 32.36%.
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Several brokerages recently commented on VMC. Zacks Investment Research lowered Vulcan Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Stephens upgraded Vulcan Materials from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $140.00 to $145.00 in a research report on Thursday, August 3rd. BidaskClub upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Royal Bank Of Canada restated a “buy” rating and set a $154.00 target price on shares of Vulcan Materials in a research report on Monday, June 19th. Finally, Argus upped their target price on Vulcan Materials from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $139.67.
In related news, VP Ejaz A. Khan sold 2,024 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $125.30, for a total value of $253,607.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stanley G. Bass sold 4,413 shares of the firm’s 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 completion of the sale, the insider now directly owns 21,939 shares in the company, valued at $2,895,948. The disclosure for this sale can be found here. Insiders sold 6,743 shares of company stock worth $876,515 over the last three months. 0.89% of the stock is owned by 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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