Vulcan Materials Company (VMC) Holdings Raised by Renaissance Technologies LLC
Renaissance Technologies LLC raised its position in Vulcan Materials Company (NYSE:VMC) by 41.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 336,965 shares of the construction company’s stock after purchasing an additional 99,000 shares during the period. Renaissance Technologies LLC owned 0.25% of Vulcan Materials worth $42,687,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in VMC. Vanguard Group Inc. lifted its position in shares of Vulcan Materials by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 13,385,889 shares of the construction company’s stock worth $1,695,724,000 after purchasing an additional 346,085 shares during the last quarter. BlackRock Inc. grew its stake in shares of Vulcan Materials by 2,909.7% during the first quarter. BlackRock Inc. now owns 8,067,195 shares of the construction company’s stock worth $971,936,000 after purchasing an additional 7,799,158 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Vulcan Materials by 2.7% during the second quarter. JPMorgan Chase & Co. now owns 4,774,421 shares of the construction company’s stock worth $604,822,000 after purchasing an additional 127,405 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Vulcan Materials by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 2,617,707 shares of the construction company’s stock worth $331,609,000 after purchasing an additional 58,520 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Vulcan Materials by 9.4% during the first quarter. Geode Capital Management LLC now owns 1,249,739 shares of the construction company’s stock worth $150,345,000 after purchasing an additional 107,089 shares in the last quarter. Institutional investors and hedge funds own 87.13% of the company’s stock.
Shares of Vulcan Materials Company (VMC) opened at 118.93 on Tuesday. The company has a 50-day moving average of $116.90 and a 200-day moving average of $122.19. Vulcan Materials Company has a 12 month low of $105.71 and a 12 month high of $138.18. The stock has a market capitalization of $15.73 billion, a PE ratio of 38.29 and a beta of 0.87.
Vulcan Materials (NYSE:VMC) last released its earnings results on Wednesday, August 2nd. The construction company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.32). Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the company posted $0.90 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts expect that Vulcan Materials Company will post $3.39 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Wednesday, August 23rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.84%. Vulcan Materials’s payout ratio is 32.36%.
In related news, insider David B. Pasley sold 1,250 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $121.51, for a total value of $151,887.50. Following the completion of the sale, the insider now directly owns 2,857 shares of the company’s stock, valued at $347,154.07. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael R. Mills sold 981 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $117.55, for a total value of $115,316.55. Following the completion of the sale, the insider now directly owns 23,871 shares of the company’s stock, valued at $2,806,036.05. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.
A number of research firms have weighed in on VMC. BidaskClub upgraded Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Argus lifted their price target on Vulcan Materials from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, June 9th. Zacks Investment Research raised Vulcan Materials from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Tuesday, June 20th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $154.00 price objective on shares of Vulcan Materials in a research report on Monday, June 19th. Finally, Stephens upgraded Vulcan Materials from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $140.00 to $145.00 in a report on Thursday, August 3rd. 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. The stock currently has an average rating of “Hold” and a consensus target price of $136.00.
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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