MidFirst Bank Makes New $2.31 Million Investment in Vulcan Materials Company $VMC

MidFirst Bank purchased a new stake in Vulcan Materials Company (NYSE:VMC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,834 shares of the construction company’s stock, valued at approximately $2,311,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Atria Investments Inc increased its stake in Vulcan Materials by 54.1% during the 4th quarter. Atria Investments Inc now owns 12,334 shares of the construction company’s stock valued at $3,518,000 after purchasing an additional 4,331 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Vulcan Materials by 7.4% in the fourth quarter. Westfield Capital Management Co. LP now owns 254,044 shares of the construction company’s stock valued at $72,459,000 after buying an additional 17,488 shares in the last quarter. North Dakota State Investment Board acquired a new position in shares of Vulcan Materials during the fourth quarter valued at about $1,293,000. Myriad Asset Management Advisors LLC bought a new stake in shares of Vulcan Materials during the fourth quarter worth about $3,229,000. Finally, SCS Capital Management LLC bought a new stake in shares of Vulcan Materials during the second quarter worth about $19,628,000. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Performance

Shares of VMC stock opened at $278.49 on Tuesday. The firm has a 50-day moving average of $289.69 and a 200-day moving average of $288.26. The company has a market cap of $36.09 billion, a P/E ratio of 32.88, a P/E/G ratio of 2.03 and a beta of 1.06. 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 Company has a one year low of $252.35 and a one year high of $331.09.

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

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. Vulcan Materials’s dividend payout ratio (DPR) is currently 24.56%.

Wall Street Analysts Forecast Growth

VMC has been the topic of several recent research reports. Raymond James Financial reaffirmed an “outperform” rating on shares of Vulcan Materials in a research report on Wednesday, July 15th. Stephens boosted 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. Wall Street Zen downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Stifel Nicolaus set a $333.00 target price on Vulcan Materials in a report on Thursday, April 30th. Finally, Citigroup cut their target price on Vulcan Materials from $355.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $327.93.

Insider Activity at Vulcan Materials

In other news, SVP David P. Clement sold 2,212 shares of the business’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 transaction, the senior vice president owned 8,716 shares in the company, valued at $2,547,599.64. The trade was a 20.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

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.