Vulcan Materials Company (VMC) Stake Increased by Bluestein R H & Co.
Bluestein R H & Co. grew its holdings in Vulcan Materials Company (NYSE:VMC) by 1,925.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 173,100 shares of the construction company’s stock after buying an additional 164,555 shares during the quarter. Bluestein R H & Co. owned 0.13% of Vulcan Materials worth $20,703,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC increased its position in shares of Vulcan Materials by 4,985.8% during the second quarter. Janus Henderson Group PLC now owns 4,209,593 shares of the construction company’s stock worth $533,271,000 after purchasing an additional 4,126,822 shares in the last quarter. Third Point LLC purchased a new stake in shares of Vulcan Materials during the second quarter worth approximately $202,688,000. Cramer Rosenthal Mcglynn LLC purchased a new stake in shares of Vulcan Materials during the second quarter worth approximately $58,623,000. CI Investments Inc. purchased a new stake in shares of Vulcan Materials during the third quarter worth approximately $55,271,000. Finally, Principal Financial Group Inc. increased its position in shares of Vulcan Materials by 71.2% during the third quarter. Principal Financial Group Inc. now owns 949,062 shares of the construction company’s stock worth $113,508,000 after purchasing an additional 394,854 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.
In other news, insider Michael R. Mills sold 981 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $117.55, for a total value of $115,316.55. Following the transaction, the insider now owns 23,871 shares of the company’s stock, valued at approximately $2,806,036.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.89% of the company’s stock.
VMC has been the subject of several research reports. Zacks Investment Research cut Vulcan Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Jefferies Group set a $114.00 target price on Vulcan Materials and gave the company a “hold” rating in a report on Tuesday, August 22nd. Citigroup restated a “buy” rating and issued a $140.00 target price (down from $145.00) on shares of Vulcan Materials in a report on Monday, October 9th. Royal Bank Of Canada restated a “buy” rating and issued a $154.00 target price on shares of Vulcan Materials in a report on Tuesday, October 10th. Finally, Bank of America dropped their target price on Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating for the company in a report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Vulcan Materials has an average rating of “Hold” and an average target price of $140.00.
Shares of Vulcan Materials Company (NYSE VMC) traded down $4.44 during trading hours on Monday, reaching $121.21. The company’s stock had a trading volume of 1,911,000 shares, compared to its average volume of 1,258,770. The company has a current ratio of 4.22, a quick ratio of 3.34 and a debt-to-equity ratio of 0.60. The stock has a market cap of $16,034.20, a PE ratio of 40.81, a P/E/G ratio of 2.37 and a beta of 0.88. Vulcan Materials Company has a 12 month low of $108.95 and a 12 month high of $136.82.
Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, November 1st. The construction company reported $1.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.36). The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Vulcan Materials had a net margin of 10.20% and a return on equity of 8.71%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 earnings per share. analysts predict that Vulcan Materials Company will post 3.04 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Tuesday, November 21st. Vulcan Materials’s dividend payout ratio (DPR) is presently 34.97%.
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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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