Vulcan Materials Company (VMC) Stake Decreased by IFC Holdings Incorporated FL
IFC Holdings Incorporated FL decreased its stake in Vulcan Materials Company (NYSE:VMC) by 10.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,697 shares of the construction company’s stock after selling 199 shares during the period. IFC Holdings Incorporated FL’s holdings in Vulcan Materials were worth $217,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Vulcan Materials by 29.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,459 shares of the construction company’s stock valued at $296,000 after buying an additional 559 shares during the period. BB&T Corp boosted its stake in Vulcan Materials by 5.3% in the second quarter. BB&T Corp now owns 4,042 shares of the construction company’s stock valued at $512,000 after buying an additional 202 shares during the period. Leavell Investment Management Inc. boosted its stake in Vulcan Materials by 1.0% in the first quarter. Leavell Investment Management Inc. now owns 76,841 shares of the construction company’s stock valued at $9,258,000 after buying an additional 750 shares during the period. Canada Pension Plan Investment Board boosted its stake in Vulcan Materials by 94.9% in the first quarter. Canada Pension Plan Investment Board now owns 375,977 shares of the construction company’s stock valued at $45,298,000 after buying an additional 183,100 shares during the period. Finally, Pax World Management LLC purchased a new stake in Vulcan Materials during the first quarter valued at $2,410,000. Institutional investors own 84.88% of the company’s stock.
Vulcan Materials Company (VMC) opened at 116.61 on Wednesday. Vulcan Materials Company has a 1-year low of $105.71 and a 1-year high of $138.18. The firm has a 50 day moving average of $123.85 and a 200-day moving average of $123.32. The company has a market capitalization of $15.42 billion, a price-to-earnings ratio of 37.54 and a beta of 0.93.
Vulcan Materials (NYSE:VMC) last released its earnings results on Wednesday, August 2nd. The construction company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.22 by $0.32. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 earnings per share. On average, equities research analysts anticipate 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. Stockholders of record on Wednesday, August 23rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, August 21st. Vulcan Materials’s dividend payout ratio is presently 32.36%.
Several equities research analysts have recently weighed in on VMC shares. Argus increased their price objective on shares of Vulcan Materials from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, June 9th. BidaskClub lowered shares of Vulcan Materials from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Stephens raised shares of Vulcan Materials from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $140.00 to $145.00 in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. Finally, Citigroup Inc. reissued a “buy” rating on shares of Vulcan Materials in a research note on Thursday, May 11th. Two analysts have rated the stock with a sell rating, three have issued 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 $139.67.
In other news, insider Stanley G. Bass sold 4,413 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $132.00, for a total value of $582,516.00. Following the sale, the insider now directly owns 21,939 shares of the company’s stock, valued at approximately $2,895,948. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Ejaz A. Khan sold 2,024 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $125.30, for a total transaction of $253,607.20. The disclosure for this sale can be found here. Insiders sold a total of 6,743 shares of company stock worth $876,515 over the last ninety days. Insiders own 0.89% of the company’s stock.
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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