Perigon Wealth Management LLC Invests $564,000 in Vulcan Materials Company $VMC

Perigon Wealth Management LLC acquired a new position in shares of Vulcan Materials Company (NYSE:VMC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,911 shares of the construction company’s stock, valued at approximately $564,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Chesapeake Capital Corp IL boosted its stake in Vulcan Materials by 0.9% in the fourth quarter. Chesapeake Capital Corp IL now owns 3,712 shares of the construction company’s stock valued at $1,059,000 after acquiring an additional 33 shares in the last quarter. Composition Wealth LLC increased its position in shares of Vulcan Materials by 3.5% during the fourth quarter. Composition Wealth LLC now owns 1,014 shares of the construction company’s stock worth $289,000 after purchasing an additional 34 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Vulcan Materials by 0.3% during the 4th quarter. Truist Financial Corp now owns 13,331 shares of the construction company’s stock valued at $3,802,000 after purchasing an additional 38 shares during the last quarter. United Capital Financial Advisors LLC lifted its holdings in shares of Vulcan Materials by 1.2% during the 3rd quarter. United Capital Financial Advisors LLC now owns 3,095 shares of the construction company’s stock valued at $952,000 after purchasing an additional 38 shares during the last quarter. Finally, 4WEALTH Advisors Inc. boosted its position in shares of Vulcan Materials by 3.2% in the 1st quarter. 4WEALTH Advisors Inc. now owns 1,261 shares of the construction company’s stock worth $337,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $276.49 on Thursday. The stock has a market capitalization of $35.83 billion, a price-to-earnings ratio of 32.64, a PEG ratio of 1.96 and a beta of 1.06. Vulcan Materials Company has a 12 month low of $252.35 and a 12 month high of $331.09. The firm’s 50 day simple moving average is $289.60 and its 200-day simple moving average is $287.91. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.13. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the previous year, the business posted $2.42 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. Analysts expect that Vulcan Materials Company will post 9.29 EPS for the current year.

Vulcan Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. Vulcan Materials’s payout ratio is presently 24.56%.

Insider Buying and Selling at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $292.29, for a total value of $646,545.48. Following the completion of the transaction, the senior vice president owned 8,716 shares in the company, valued at approximately $2,547,599.64. This represents a 20.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

VMC has been the topic of several research analyst reports. Raymond James Financial restated an “outperform” rating on shares of Vulcan Materials in a research note on Wednesday, July 15th. Stifel Nicolaus set a $333.00 price target on Vulcan Materials in a research note on Thursday, April 30th. Stephens upped their price objective on shares of Vulcan Materials from $330.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Oppenheimer initiated coverage on shares of Vulcan Materials in a research report on Thursday, May 28th. They issued a “market perform” rating for the company. Finally, Barclays boosted their target price on shares of Vulcan Materials from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.93.

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.