Pioneer Investment Management Inc. increased its stake in shares of Vulcan Materials Company (NYSE:VMC) by 17.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 160,341 shares of the construction company’s stock after buying an additional 23,403 shares during the period. Pioneer Investment Management Inc. owned about 0.12% of Vulcan Materials worth $20,312,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in VMC. Howard Capital Management raised its stake in Vulcan Materials by 2.9% in the first quarter. Howard Capital Management now owns 71,227 shares of the construction company’s stock valued at $8,581,000 after buying an additional 2,001 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Vulcan Materials by 29.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,459 shares of the construction company’s stock valued at $296,000 after buying an additional 559 shares in the last quarter. BB&T Corp raised its stake in Vulcan Materials by 5.3% in the second quarter. BB&T Corp now owns 4,042 shares of the construction company’s stock valued at $512,000 after buying an additional 202 shares in the last quarter. Leavell Investment Management Inc. raised its stake in Vulcan Materials by 1.0% in the first quarter. Leavell Investment Management Inc. now owns 76,841 shares of the construction company’s stock valued at $9,258,000 after buying an additional 750 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Vulcan Materials by 94.9% in the first quarter. Canada Pension Plan Investment Board now owns 375,977 shares of the construction company’s stock valued at $45,298,000 after buying an additional 183,100 shares in the last quarter. 85.60% of the stock is owned by institutional investors.
Vulcan Materials Company (NYSE:VMC) opened at 114.71 on Friday. The company has a market cap of $15.17 billion, a price-to-earnings ratio of 36.93 and a beta of 0.93. The company’s 50 day moving average is $125.25 and its 200 day moving average is $123.85. Vulcan Materials Company has a 1-year low of $105.71 and a 1-year high of $138.18.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by $0.32. Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the business posted $0.90 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts forecast that Vulcan Materials Company will post $3.46 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Wednesday, August 23rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, August 21st. Vulcan Materials’s payout ratio is 32.36%.
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VMC has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Tuesday, June 20th. Royal Bank Of Canada restated a “buy” rating and issued a $154.00 price target on shares of Vulcan Materials in a report on Monday, June 19th. Argus boosted their price target on shares of Vulcan Materials from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, June 9th. Citigroup Inc. restated a “buy” rating on shares of Vulcan Materials in a report on Thursday, May 11th. Finally, BidaskClub upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Vulcan Materials presently has an average rating of “Hold” and an average target price of $139.67.
In related news, General Counsel Jerry F. Perkins, Jr. sold 306 shares of Vulcan Materials stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $132.00, for a total value of $40,392.00. Following the completion of the transaction, the general counsel now owns 5,292 shares in the company, valued at $698,544. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ejaz A. Khan sold 2,024 shares of Vulcan Materials stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $125.30, for a total transaction of $253,607.20. The disclosure for this sale can be found here. In the last three months, insiders sold 6,743 shares of company stock valued at $876,515. Insiders own 0.89% of the company’s stock.
Vulcan Materials Company Profile
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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