Lone Pine Capital LLC Takes $425.94 Million Position in Vulcan Materials Company $VMC

Lone Pine Capital LLC acquired a new stake in shares of Vulcan Materials Company (NYSE:VMC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,384,624 shares of the construction company’s stock, valued at approximately $425,938,000. Vulcan Materials makes up 3.1% of Lone Pine Capital LLC’s portfolio, making the stock its 18th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of VMC. Westside Investment Management Inc. raised its position in Vulcan Materials by 100.0% in the third quarter. Westside Investment Management Inc. now owns 84 shares of the construction company’s stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Greykasell Wealth Strategies Inc. bought a new stake in shares of Vulcan Materials during the third quarter worth about $29,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Vulcan Materials during the third quarter worth about $42,000. Bayforest Capital Ltd acquired a new position in shares of Vulcan Materials in the third quarter valued at approximately $46,000. Finally, Optiver Holding B.V. acquired a new position in shares of Vulcan Materials in the third quarter valued at approximately $49,000. Institutional investors own 90.39% of the company’s stock.

Insiders Place Their Bets

In related news, Director Melissa H. Anderson sold 1,137 shares of Vulcan Materials stock in a transaction on Friday, February 20th. The shares were sold at an average price of $303.72, for a total transaction of $345,329.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is owned by corporate insiders.

Vulcan Materials Price Performance

Vulcan Materials stock opened at $265.84 on Tuesday. The stock’s 50 day moving average is $301.70 and its 200 day moving average is $296.67. Vulcan Materials Company has a one year low of $218.87 and a one year high of $331.09. The firm has a market cap of $34.71 billion, a P/E ratio of 32.74, a P/E/G ratio of 1.85 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.69 and a quick ratio of 1.97.

Vulcan Materials (NYSE:VMC) last released its earnings results on Tuesday, February 17th. The construction company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.41). The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.95 billion. Vulcan Materials had a net margin of 13.56% and a return on equity of 12.56%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.17 EPS. As a group, research analysts expect that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.49. The ex-dividend date is Monday, March 9th. Vulcan Materials’s dividend payout ratio is currently 25.62%.

Analyst Ratings Changes

Several research firms recently commented on VMC. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $320.00 target price (down from $335.00) on shares of Vulcan Materials in a research report on Wednesday, March 4th. Royal Bank Of Canada decreased their price target on shares of Vulcan Materials from $316.00 to $296.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 18th. Wall Street Zen downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. B. Riley Financial started coverage on shares of Vulcan Materials in a report on Thursday, January 15th. They set a “buy” rating and a $345.00 price target on the stock. Finally, Truist Financial boosted their price objective on shares of Vulcan Materials from $320.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $326.29.

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.