Pendal Group Ltd Has $306,000 Holdings in Vulcan Materials (NYSE:VMC)
Pendal Group Ltd cut its holdings in Vulcan Materials (NYSE:VMC) by 5.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,232 shares of the construction company’s stock after selling 125 shares during the quarter. Pendal Group Ltd’s holdings in Vulcan Materials were worth $306,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. NuWave Investment Management LLC boosted its stake in Vulcan Materials by 809.5% in the second quarter. NuWave Investment Management LLC now owns 191 shares of the construction company’s stock valued at $26,000 after buying an additional 170 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Vulcan Materials by 114.5% during the first quarter. Parallel Advisors LLC now owns 474 shares of the construction company’s stock valued at $56,000 after purchasing an additional 253 shares in the last quarter. Gradient Investments LLC acquired a new stake in shares of Vulcan Materials during the second quarter valued at about $93,000. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in shares of Vulcan Materials during the first quarter valued at about $91,000. Finally, Huntington National Bank boosted its stake in shares of Vulcan Materials by 27.5% during the second quarter. Huntington National Bank now owns 798 shares of the construction company’s stock valued at $110,000 after purchasing an additional 172 shares in the last quarter. 95.84% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on VMC. Stifel Nicolaus lifted their price target on Vulcan Materials from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Argus set a $152.00 price target on Vulcan Materials and gave the company a “buy” rating in a research note on Friday, July 26th. DA Davidson lifted their price target on Vulcan Materials to $150.00 and gave the company a “neutral” rating in a research note on Thursday, June 6th. They noted that the move was a valuation call. Zacks Investment Research raised Vulcan Materials from a “hold” rating to a “buy” rating and set a $144.00 price target on the stock in a research note on Thursday, May 9th. Finally, Royal Bank of Canada set a $142.00 price target on Vulcan Materials and gave the company a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $135.44.
Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.03. Vulcan Materials had a return on equity of 11.07% and a net margin of 12.12%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the company earned $1.23 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Vulcan Materials will post 4.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.87%. Vulcan Materials’s dividend payout ratio (DPR) is 30.62%.
In other news, insider Stanley G. Bass sold 6,207 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $135.80, for a total transaction of $842,910.60. Following the completion of the transaction, the insider now directly owns 53,813 shares in the company, valued at $7,307,805.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael R. Mills sold 1,326 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $136.05, for a total value of $180,402.30. Following the transaction, the insider now owns 51,713 shares of the company’s stock, valued at $7,035,553.65. The disclosure for this sale can be found here. Insiders have sold 9,287 shares of company stock valued at $1,260,033 over the last 90 days. 0.79% of the stock is owned by corporate insiders.
Vulcan Materials 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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