Westhampton Capital LLC purchased a new position in Vulcan Materials (NYSE:VMC) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 2,300 shares of the construction company’s stock, valued at approximately $316,000.
Several other institutional investors and hedge funds have also made changes to their positions in VMC. NuWave Investment Management LLC lifted its position in Vulcan Materials by 809.5% during the second quarter. NuWave Investment Management LLC now owns 191 shares of the construction company’s stock valued at $26,000 after acquiring an additional 170 shares during the last quarter. Coastal Investment Advisors Inc. lifted its position in Vulcan Materials by 1,550.0% during the second quarter. Coastal Investment Advisors Inc. now owns 198 shares of the construction company’s stock valued at $27,000 after acquiring an additional 186 shares during the last quarter. FinTrust Capital Advisors LLC lifted its position in Vulcan Materials by 136.9% during the second quarter. FinTrust Capital Advisors LLC now owns 244 shares of the construction company’s stock valued at $33,000 after acquiring an additional 141 shares during the last quarter. Parallel Advisors LLC lifted its position in Vulcan Materials by 114.5% during the first quarter. Parallel Advisors LLC now owns 474 shares of the construction company’s stock valued at $56,000 after acquiring an additional 253 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new stake in Vulcan Materials during the first quarter valued at approximately $91,000. 95.62% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on VMC shares. Royal Bank of Canada set a $142.00 target price on shares of Vulcan Materials and gave the company a “buy” rating in a research report on Friday, July 26th. DA Davidson increased their target price on shares of Vulcan Materials to $150.00 and gave the company a “neutral” rating in a research report on Thursday, June 6th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research report on Thursday, May 9th. Argus set a $152.00 target price on shares of Vulcan Materials and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Barclays reissued a “buy” rating and set a $140.00 target price on shares of Vulcan Materials in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Vulcan Materials currently has a consensus rating of “Buy” and an average price target of $135.44.
Shares of NYSE VMC traded down $2.40 during midday trading on Friday, reaching $140.96. The company had a trading volume of 391,095 shares, compared to its average volume of 1,051,596. The business’s 50-day simple moving average is $138.31 and its 200 day simple moving average is $125.96. The stock has a market cap of $18.78 billion, a P/E ratio of 34.80, a P/E/G ratio of 1.67 and a beta of 0.93. Vulcan Materials has a 1 year low of $82.52 and a 1 year high of $144.23. The company has a current ratio of 1.89, a quick ratio of 1.23 and a debt-to-equity ratio of 0.59.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.03. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Vulcan Materials had a net margin of 12.12% and a return on equity of 11.07%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company posted $1.23 earnings per share. Analysts predict that Vulcan Materials will post 4.85 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Wednesday, August 21st will be issued a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.88%. Vulcan Materials’s dividend payout ratio is currently 30.62%.
Vulcan Materials Company 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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