Keebeck Wealth Management Makes New Investment in Vulcan Materials Company $VMC

Keebeck Wealth Management acquired a new position in shares of Vulcan Materials Company (NYSE:VMC) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,474 shares of the construction company’s stock, valued at approximately $1,320,000.

A number of other hedge funds have also made changes to their positions in VMC. Brighton Jones LLC purchased a new stake in Vulcan Materials during the fourth quarter worth approximately $497,000. NewEdge Advisors LLC boosted its holdings in Vulcan Materials by 3.9% in the first quarter. NewEdge Advisors LLC now owns 4,359 shares of the construction company’s stock valued at $1,017,000 after purchasing an additional 163 shares in the last quarter. Empowered Funds LLC increased its stake in Vulcan Materials by 6.3% in the first quarter. Empowered Funds LLC now owns 3,195 shares of the construction company’s stock valued at $745,000 after purchasing an additional 190 shares during the last quarter. Focus Partners Wealth increased its stake in Vulcan Materials by 28.5% in the first quarter. Focus Partners Wealth now owns 3,321 shares of the construction company’s stock valued at $775,000 after purchasing an additional 736 shares during 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 worth $78,000 after purchasing an additional 80 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 $275.48 on Friday. The stock has a market cap of $35.70 billion, a P/E ratio of 32.52, a P/E/G ratio of 1.95 and a beta of 1.06. Vulcan Materials Company has a twelve month low of $252.35 and a twelve month high of $331.09. The stock has a 50 day moving average of $289.19 and a two-hundred day moving average of $287.61. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47.

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

Vulcan Materials Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.8%. Vulcan Materials’s dividend payout ratio is currently 24.56%.

Insider Transactions at Vulcan Materials

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $292.29, for a total transaction of $646,545.48. Following the transaction, the senior vice president directly owned 8,716 shares of the company’s stock, valued at approximately $2,547,599.64. This trade represents a 20.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

VMC has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Berenberg Bank set a $283.00 price target on shares of Vulcan Materials and gave the stock a “hold” rating in a research note on Tuesday, June 2nd. UBS Group reduced their price target on shares of Vulcan Materials from $350.00 to $349.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Wells Fargo & Company decreased their price objective on shares of Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Finally, Stephens raised their price objective on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Vulcan Materials presently has an average 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.