Cubist Systematic Strategies LLC boosted its position in Vulcan Materials Company (NYSE:VMC) by 116.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,786 shares of the construction company’s stock after purchasing an additional 11,720 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Vulcan Materials were worth $2,760,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in VMC. Sun Life Financial INC increased its stake in Vulcan Materials by 10,666.7% during the 2nd quarter. Sun Life Financial INC now owns 969 shares of the construction company’s stock valued at $123,000 after buying an additional 960 shares during the period. NN Investment Partners Holdings N.V. grew its stake in shares of Vulcan Materials by 25.2% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 994 shares of the construction company’s stock worth $126,000 after purchasing an additional 200 shares during the last quarter. Korea Investment CORP grew its stake in shares of Vulcan Materials by 140.5% in the 2nd quarter. Korea Investment CORP now owns 1,229 shares of the construction company’s stock worth $156,000 after purchasing an additional 718 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of Vulcan Materials in the 2nd quarter worth approximately $187,000. Finally, NEXT Financial Group Inc grew its stake in shares of Vulcan Materials by 6.9% in the 2nd quarter. NEXT Financial Group Inc now owns 1,600 shares of the construction company’s stock worth $203,000 after purchasing an additional 103 shares during the last quarter. 87.10% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Michael R. Mills sold 981 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $117.55, for a total transaction of $115,316.55. Following the completion of the transaction, the insider now owns 23,871 shares of the company’s stock, valued at approximately $2,806,036.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David B. Pasley sold 1,250 shares of Vulcan Materials stock in a transaction on Friday, September 1st. The stock was sold at an average price of $121.51, for a total value of $151,887.50. Following the completion of the sale, the insider now directly owns 2,857 shares of the company’s stock, valued at approximately $347,154.07. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.
Several brokerages have recently issued reports on VMC. Jefferies Group LLC reaffirmed a “hold” rating and issued a $122.00 price objective on shares of Vulcan Materials in a research note on Friday. Royal Bank Of Canada reissued a “buy” rating and issued a $154.00 target price on shares of Vulcan Materials in a research report on Tuesday, October 10th. Citigroup Inc. reissued a “buy” rating and issued a $140.00 target price (down from $145.00) on shares of Vulcan Materials in a research report on Monday, October 9th. Zacks Investment Research cut shares of Vulcan Materials from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. Finally, Stephens upgraded shares of Vulcan Materials from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $140.00 to $145.00 in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $139.17.
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Shares of Vulcan Materials Company (VMC) traded up 0.072% during trading on Tuesday, reaching $117.415. 74,055 shares of the company were exchanged. The company has a 50 day moving average price of $118.11 and a 200-day moving average price of $122.45. The stock has a market capitalization of $15.53 billion, a price-to-earnings ratio of 37.803 and a beta of 0.87. Vulcan Materials Company has a one year low of $108.37 and a one year high of $138.18.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.32). The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. Equities analysts predict that Vulcan Materials Company will post $3.26 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Tuesday, November 21st. Vulcan Materials’s dividend payout ratio (DPR) is presently 32.36%.
About Vulcan Materials
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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