Wedmont Private Capital Acquires Shares of 836 Vulcan Materials (NYSE:VMC)

Wedmont Private Capital bought a new position in shares of Vulcan Materials (NYSE:VMC) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 836 shares of the construction company’s stock, valued at approximately $222,000.

A number of other institutional investors have also recently modified their holdings of VMC. JPMorgan Chase & Co. increased its holdings 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 worth $909,794,000 after acquiring an additional 1,447,700 shares in the last quarter. Norges Bank purchased a new stake in shares of Vulcan Materials during the fourth quarter worth about $282,528,000. Point72 Asset Management L.P. raised its position 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 worth $186,861,000 after purchasing an additional 601,268 shares during the last quarter. Wellington Management Group LLP lifted its stake in Vulcan Materials by 30,160.4% in 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 in the last quarter. Finally, Palestra Capital Management LLC boosted its holdings in Vulcan Materials by 68.9% in the 3rd quarter. Palestra Capital Management LLC now owns 560,315 shares of the construction company’s stock worth $113,195,000 after buying an additional 228,510 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Vulcan Materials Price Performance

VMC stock opened at $247.81 on Monday. Vulcan Materials has a 52-week low of $190.51 and a 52-week high of $276.58. The company has a quick ratio of 1.81, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. The stock has a market cap of $32.77 billion, a price-to-earnings ratio of 36.18, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. The business has a fifty day moving average of $257.79 and a two-hundred day moving average of $249.00.

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

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors 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 0.74%. Vulcan Materials’s payout ratio is currently 26.86%.

Insider Activity at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 1,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $249.50, for a total transaction of $249,500.00. Following the transaction, the senior vice president now directly owns 1,660 shares in the company, valued at $414,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vulcan Materials news, SVP David P. Clement sold 1,000 shares of Vulcan Materials stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $249.50, for a total value of $249,500.00. Following the completion of the transaction, the senior vice president now directly owns 1,660 shares of the company’s stock, valued at approximately $414,170. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Thompson S. Baker II sold 6,610 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $272.64, for a total transaction of $1,802,150.40. Following the sale, the president now directly owns 4,784 shares in the company, valued at approximately $1,304,309.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,210 shares of company stock worth $4,653,520. Insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

VMC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $270.00 target price (up previously from $245.00) on shares of Vulcan Materials in a report on Friday, March 22nd. Wolfe Research downgraded Vulcan Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Citigroup lifted their target price on shares of Vulcan Materials from $263.00 to $322.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Truist Financial increased their target price on shares of Vulcan Materials from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, Jefferies Financial Group boosted their price target on shares of Vulcan Materials from $298.00 to $319.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $277.08.

Vulcan Materials Company 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.