Wedmont Private Capital Purchases 513 Shares of Vulcan Materials (NYSE:VMC)

Wedmont Private Capital increased its position in shares of Vulcan Materials (NYSE:VMC) by 61.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,349 shares of the construction company’s stock after buying an additional 513 shares during the quarter. Wedmont Private Capital’s holdings in Vulcan Materials were worth $341,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Vulcan Materials by 5.0% during the first quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock valued at $4,368,273,000 after purchasing an additional 755,991 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Vulcan Materials by 1.9% during the first quarter. Principal Financial Group Inc. now owns 4,494,455 shares of the construction company’s stock worth $1,226,627,000 after buying an additional 83,601 shares during the last quarter. Capital World Investors bought a new stake in Vulcan Materials during the first quarter worth $388,027,000. Dimensional Fund Advisors LP lifted its stake in Vulcan Materials by 7.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,256,372 shares of the construction company’s stock valued at $285,200,000 after acquiring an additional 83,337 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Vulcan Materials in the 4th quarter valued at about $282,528,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

VMC has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered their price target on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Citigroup cut their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Truist Financial decreased their price objective on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Jefferies Financial Group raised their target price on shares of Vulcan Materials from $298.00 to $319.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, Loop Capital lowered their price target on shares of Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $274.73.

Insiders Place Their Bets

In other news, SVP David P. Clement sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $249.50, for a total value of $249,500.00. Following the sale, the senior vice president now directly owns 1,660 shares in the company, valued at approximately $414,170. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.62% of the company’s stock.

Vulcan Materials Price Performance

VMC traded up $1.94 on Tuesday, hitting $243.84. 694,197 shares of the stock were exchanged, compared to its average volume of 798,599. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.48 and a quick ratio of 1.66. Vulcan Materials has a 12 month low of $190.51 and a 12 month high of $278.79. The firm has a market capitalization of $32.25 billion, a price-to-earnings ratio of 35.53, a PEG ratio of 2.19 and a beta of 0.82. The business has a 50-day moving average of $251.97 and a two-hundred day moving average of $256.44.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.47 by ($0.12). Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $2.29 EPS. The business’s revenue was down 4.7% on a year-over-year basis. Sell-side analysts forecast that Vulcan Materials will post 8 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.75%. The ex-dividend date is Thursday, August 15th. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

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.