Vontobel Holding Ltd. boosted its holdings in Vulcan Materials (NYSE:VMC – Get Rating) by 75.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,108 shares of the construction company’s stock after purchasing an additional 29,393 shares during the quarter. Vontobel Holding Ltd. owned approximately 0.05% of Vulcan Materials worth $11,685,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Vulcan Materials during the fourth quarter valued at $217,300,000. Artemis Investment Management LLP acquired a new position in shares of Vulcan Materials during the fourth quarter valued at $62,023,000. Palestra Capital Management LLC boosted its holdings in shares of Vulcan Materials by 46.8% during the third quarter. Palestra Capital Management LLC now owns 907,462 shares of the construction company’s stock valued at $143,116,000 after acquiring an additional 289,462 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Vulcan Materials by 5.4% during the fourth quarter. JPMorgan Chase & Co. now owns 4,096,865 shares of the construction company’s stock valued at $717,401,000 after purchasing an additional 211,244 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Vulcan Materials by 1.3% during the first quarter. Vanguard Group Inc. now owns 14,535,907 shares of the construction company’s stock valued at $2,670,246,000 after purchasing an additional 184,543 shares in the last quarter. Institutional investors and hedge funds own 89.02% of the company’s stock.
Analysts Set New Price Targets
VMC has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on shares of Vulcan Materials from $191.00 to $186.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 20th. The Goldman Sachs Group upgraded shares of Vulcan Materials from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $188.00 to $212.00 in a research note on Monday, April 3rd. DA Davidson lifted their price objective on shares of Vulcan Materials from $212.00 to $225.00 in a research note on Wednesday, May 10th. JPMorgan Chase & Co. lifted their price objective on shares of Vulcan Materials from $200.00 to $215.00 in a research note on Friday, May 5th. Finally, 92 Resources reiterated a “maintains” rating on shares of Vulcan Materials in a research report on Friday, May 5th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Vulcan Materials has a consensus rating of “Moderate Buy” and a consensus price target of $208.08.
Vulcan Materials Trading Up 0.5 %
Vulcan Materials (NYSE:VMC – Get Rating) last released its earnings results on Thursday, May 4th. The construction company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.31. Vulcan Materials had a return on equity of 10.36% and a net margin of 8.14%. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the business posted $0.73 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities research analysts forecast that Vulcan Materials will post 6.52 earnings per share for the current fiscal year.
Vulcan Materials Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Friday, May 26th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, May 25th. This represents a $1.72 annualized dividend and a yield of 0.80%. Vulcan Materials’s dividend payout ratio (DPR) is presently 38.05%.
Insider Activity at Vulcan Materials
In related news, SVP David P. Clement sold 2,389 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $196.00, for a total value of $468,244.00. Following the completion of the sale, the senior vice president now owns 2,887 shares of the company’s stock, valued at approximately $565,852. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP David P. Clement sold 2,389 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $196.00, for a total value of $468,244.00. Following the completion of the sale, the senior vice president now owns 2,887 shares of the company’s stock, valued at approximately $565,852. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Randy L. Pigg sold 560 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $202.44, for a total value of $113,366.40. Following the completion of the sale, the vice president now directly owns 1,707 shares of the company’s stock, valued at approximately $345,565.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,644 shares of company stock valued at $1,529,014. 0.57% of the stock is owned by corporate insiders.
Vulcan Materials Profile
Vulcan Materials Co engages in the production of construction aggregates. Its products include crushed stone, sand, and gravel. It operates through the following business segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment produces and sells asphalt mix and ready-mixed concrete primarily in its mid-Atlantic, Georgia, Southwestern, Tennessee, and Western markets.
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