Hsbc Holdings PLC Acquires 69,564 Shares of Vulcan Materials Company $VMC

Hsbc Holdings PLC lifted its holdings in shares of Vulcan Materials Company (NYSE:VMC) by 31.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 293,084 shares of the construction company’s stock after purchasing an additional 69,564 shares during the quarter. Hsbc Holdings PLC’s holdings in Vulcan Materials were worth $79,516,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC acquired a new stake in shares of Vulcan Materials in the 4th quarter valued at $497,000. NewEdge Advisors LLC increased its position in Vulcan Materials by 3.9% during the first quarter. NewEdge Advisors LLC now owns 4,359 shares of the construction company’s stock worth $1,017,000 after buying an additional 163 shares during the last quarter. Empowered Funds LLC increased its position in Vulcan Materials by 6.3% during the first quarter. Empowered Funds LLC now owns 3,195 shares of the construction company’s stock worth $745,000 after buying an additional 190 shares during the last quarter. Focus Partners Wealth raised its holdings in Vulcan Materials by 28.5% during the first quarter. Focus Partners Wealth now owns 3,321 shares of the construction company’s stock valued at $775,000 after buying an additional 736 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Vulcan Materials by 31.5% during the first quarter. Geneos Wealth Management Inc. now owns 334 shares of the construction company’s stock valued at $78,000 after buying an additional 80 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $292.29, for a total value of $646,545.48. Following the sale, the senior vice president owned 8,716 shares of the company’s stock, valued at $2,547,599.64. This trade represents a 20.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.65% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. Wells Fargo & Company cut their price objective on Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. UBS Group reduced their target price on Vulcan Materials from $350.00 to $349.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of Vulcan Materials in a research report on Wednesday. Finally, Citigroup decreased their target price on Vulcan Materials from $365.00 to $355.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Vulcan Materials currently has an average rating of “Moderate Buy” and an average target price of $327.79.

Vulcan Materials Stock Up 0.1%

Vulcan Materials stock opened at $288.64 on Monday. The firm has a market cap of $37.45 billion, a price-to-earnings ratio of 34.32, a P/E/G ratio of 2.09 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.59 and a quick ratio of 1.89. Vulcan Materials Company has a fifty-two week low of $252.35 and a fifty-two week high of $331.09. The firm has a fifty day moving average price of $286.57 and a two-hundred day moving average price of $290.96.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.00 earnings per share. As a group, analysts forecast that Vulcan Materials Company will post 9.23 earnings per share for the current year.

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, August 13th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, August 13th. This represents a $2.08 annualized dividend and a yield of 0.7%. Vulcan Materials’s dividend payout ratio is presently 24.73%.

Vulcan Materials Profile

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.