American International Group Inc. Acquires 131 Shares of Vulcan Materials (NYSE:VMC)

American International Group Inc. boosted its holdings in Vulcan Materials (NYSE:VMC) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,109 shares of the construction company’s stock after acquiring an additional 131 shares during the quarter. American International Group Inc.’s holdings in Vulcan Materials were worth $8,197,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VMC. JPMorgan Chase & Co. lifted its position in Vulcan Materials by 47.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,484 shares of the construction company’s stock valued at $909,794,000 after acquiring an additional 1,447,700 shares in the last quarter. Norges Bank bought a new position in shares of Vulcan Materials during the 4th quarter valued at $282,528,000. Point72 Asset Management L.P. lifted its holdings in shares of Vulcan Materials by 271.0% during the 4th quarter. Point72 Asset Management L.P. now owns 823,141 shares of the construction company’s stock valued at $186,861,000 after buying an additional 601,268 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Vulcan Materials by 30,160.4% during the 3rd quarter. Wellington Management Group LLP now owns 541,359 shares of the construction company’s stock valued at $109,365,000 after buying an additional 539,570 shares during the period. Finally, Palestra Capital Management LLC lifted its holdings in shares of Vulcan Materials by 68.9% during the 3rd quarter. Palestra Capital Management LLC now owns 560,315 shares of the construction company’s stock valued at $113,195,000 after buying an additional 228,510 shares during the period. 90.39% of the stock is owned by institutional investors.

Insider Activity

In related news, President Thompson S. Baker II sold 6,610 shares of Vulcan Materials stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $272.64, for a total value of $1,802,150.40. Following the completion of the transaction, the president now owns 4,784 shares in the company, valued at $1,304,309.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, President Thompson S. Baker II sold 6,610 shares of Vulcan Materials stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $272.64, for a total value of $1,802,150.40. Following the completion of the transaction, the president now owns 4,784 shares in the company, valued at $1,304,309.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Thompson S. Baker II sold 8,600 shares of Vulcan Materials stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $272.95, for a total value of $2,347,370.00. Following the completion of the transaction, the president now owns 1,300 shares of the company’s stock, valued at approximately $354,835. The disclosure for this sale can be found here. Insiders sold a total of 17,210 shares of company stock worth $4,653,520 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wolfe Research cut Vulcan Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Stephens raised their target price on Vulcan Materials from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Royal Bank of Canada raised their target price on Vulcan Materials from $269.00 to $272.00 and gave the stock a “sector perform” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $270.00 target price (up from $245.00) on shares of Vulcan Materials in a report on Friday, March 22nd. Finally, Truist Financial raised their target price on Vulcan Materials from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Vulcan Materials presently has a consensus rating of “Moderate Buy” and an average price target of $277.08.

Vulcan Materials Trading Down 0.3 %

Shares of Vulcan Materials stock opened at $255.61 on Thursday. The firm has a market cap of $33.80 billion, a price-to-earnings ratio of 37.32, a PEG ratio of 1.91 and a beta of 0.84. The business has a 50-day moving average price of $258.48 and a 200-day moving average price of $248.27. The company has a quick ratio of 1.81, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. Vulcan Materials has a twelve month low of $190.51 and a twelve month high of $276.58.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.11). The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Vulcan Materials had a net margin of 11.92% and a return on equity of 12.32%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS. Equities research analysts anticipate that Vulcan Materials will post 8.55 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were given a dividend of $0.46 per share. The ex-dividend date was Thursday, May 23rd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.72%. Vulcan Materials’s payout ratio is 26.86%.

Vulcan Materials Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in 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.