Egerton Capital UK LLP Purchases 1,320,882 Shares of Vulcan Materials (VMC)
Egerton Capital UK LLP raised its position in Vulcan Materials (NYSE:VMC) by 45.3% during the first quarter, HoldingsChannel reports. The firm owned 4,236,189 shares of the construction company’s stock after buying an additional 1,320,882 shares during the period. Vulcan Materials accounts for about 3.5% of Egerton Capital UK LLP’s holdings, making the stock its 13th largest holding. Egerton Capital UK LLP’s holdings in Vulcan Materials were worth $501,565,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in VMC. Norges Bank purchased a new position in Vulcan Materials in the 4th quarter valued at about $91,820,000. FMR LLC lifted its holdings in shares of Vulcan Materials by 800.7% during the 4th quarter. FMR LLC now owns 975,983 shares of the construction company’s stock worth $96,428,000 after acquiring an additional 867,625 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Vulcan Materials by 17.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,107,631 shares of the construction company’s stock worth $405,835,000 after acquiring an additional 608,504 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Vulcan Materials by 20.6% during the 4th quarter. Principal Financial Group Inc. now owns 3,271,027 shares of the construction company’s stock worth $323,178,000 after acquiring an additional 557,792 shares during the period. Finally, Pennsylvania Trust Co purchased a new position in shares of Vulcan Materials during the 1st quarter worth about $49,629,000. Institutional investors own 99.42% of the company’s stock.
Several brokerages have recently weighed in on VMC. Zacks Investment Research upgraded shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $144.00 price objective on the stock in a report on Thursday, May 9th. Barclays reiterated a “buy” rating and set a $137.00 price objective on shares of Vulcan Materials in a report on Sunday, May 5th. Berenberg Bank began coverage on shares of Vulcan Materials in a report on Wednesday, April 3rd. They set a “hold” rating and a $115.00 price objective on the stock. JPMorgan Chase & Co. began coverage on shares of Vulcan Materials in a report on Thursday, March 21st. They set an “overweight” rating and a $135.00 price objective on the stock. Finally, Goldman Sachs Group upgraded shares of Vulcan Materials from a “buy” rating to a “conviction-buy” rating in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $124.15.
VMC opened at $125.03 on Friday. The company has a market cap of $16.90 billion, a P/E ratio of 30.87, a price-to-earnings-growth ratio of 1.56 and a beta of 0.94. Vulcan Materials has a 1 year low of $82.52 and a 1 year high of $133.59. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.64 and a quick ratio of 0.99.
Vulcan Materials (NYSE:VMC) last posted its earnings results on Thursday, May 2nd. The construction company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.13. The firm had revenue of $996.50 million during the quarter, compared to the consensus estimate of $915.68 million. Vulcan Materials had a net margin of 11.63% and a return on equity of 10.60%. The company’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. On average, analysts expect that Vulcan Materials will post 4.82 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Thursday, May 23rd. Vulcan Materials’s dividend payout ratio (DPR) is presently 30.62%.
Vulcan Materials Company Profile
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.
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