Pictet Asset Management Ltd. increased its stake in shares of Vulcan Materials (NYSE:VMC) by 76.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,999 shares of the construction company’s stock after purchasing an additional 46,683 shares during the quarter. Pictet Asset Management Ltd. owned approximately 0.08% of Vulcan Materials worth $12,787,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of VMC. Utah Retirement Systems boosted its stake in Vulcan Materials by 0.4% in the 4th quarter. Utah Retirement Systems now owns 24,560 shares of the construction company’s stock worth $2,426,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Vulcan Materials by 1.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the construction company’s stock worth $829,000 after buying an additional 100 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Vulcan Materials by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 5,776 shares of the construction company’s stock worth $571,000 after buying an additional 101 shares during the last quarter. Round Table Services LLC boosted its stake in Vulcan Materials by 3.8% in the 1st quarter. Round Table Services LLC now owns 2,811 shares of the construction company’s stock worth $333,000 after buying an additional 102 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its stake in Vulcan Materials by 21.9% in the 4th quarter. Commonwealth Bank of Australia now owns 624 shares of the construction company’s stock worth $58,000 after buying an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 95.82% of the company’s stock.
A number of analysts have issued reports on the company. DA Davidson raised their price target on Vulcan Materials to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, June 6th. They noted that the move was a valuation call. Barclays reissued a “buy” rating and issued a $137.00 price target on shares of Vulcan Materials in a research note on Sunday, May 5th. Zacks Investment Research raised Vulcan Materials from a “hold” rating to a “buy” rating and set a $144.00 price target on the stock in a research note on Thursday, May 9th. Berenberg Bank assumed coverage on Vulcan Materials in a research note on Wednesday, April 3rd. They issued a “hold” rating and a $115.00 price target on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Vulcan Materials in a research note on Thursday, March 21st. They issued an “overweight” rating and a $135.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $126.62.
Shares of NYSE:VMC traded down $0.09 during mid-day trading on Wednesday, hitting $134.30. 732,100 shares of the company traded hands, compared to its average volume of 1,123,792. Vulcan Materials has a 52-week low of $82.52 and a 52-week high of $136.45. The firm has a market capitalization of $17.76 billion, a price-to-earnings ratio of 33.16, a P/E/G ratio of 1.59 and a beta of 0.91. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 1.64. The stock’s 50 day moving average price is $130.32.
Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.13. Vulcan Materials had a return on equity of 10.60% and a net margin of 11.63%. The company had revenue of $996.50 million during the quarter, compared to analyst estimates of $915.68 million. During the same quarter in the previous year, the firm posted $0.44 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities analysts expect that Vulcan Materials will post 4.83 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were given a dividend of $0.31 per share. The ex-dividend date was Thursday, May 23rd. This represents a $1.24 dividend on an annualized basis and a yield of 0.92%. Vulcan Materials’s dividend payout ratio (DPR) is presently 30.62%.
In other news, VP Randy L. Pigg sold 1,754 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $134.96, for a total value of $236,719.84. Following the completion of the sale, the vice president now owns 3,034 shares in the company, valued at $409,468.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael R. Mills sold 1,326 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $136.05, for a total value of $180,402.30. Following the sale, the insider now directly owns 51,713 shares in the company, valued at $7,035,553.65. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.
Vulcan Materials Profile
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.
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