Bank of Montreal Can increased its stake in Vulcan Materials Company (NYSE:VMC) by 18.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,307 shares of the construction company’s stock after buying an additional 6,685 shares during the period. Bank of Montreal Can’s holdings in Vulcan Materials were worth $5,485,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Howard Capital Management raised its stake in shares of 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. Fox Run Management L.L.C. bought a new stake in shares of Vulcan Materials during the first quarter valued at approximately $328,000. Home Federal Bank of Tennessee raised its stake in shares of Vulcan Materials by 16.4% in the first quarter. Home Federal Bank of Tennessee now owns 5,669 shares of the construction company’s stock valued at $683,000 after buying an additional 798 shares in the last quarter. National Pension Service raised its stake in shares of Vulcan Materials by 8.4% in the first quarter. National Pension Service now owns 115,921 shares of the construction company’s stock valued at $13,643,000 after buying an additional 9,003 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its stake in shares of Vulcan Materials by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 41,338 shares of the construction company’s stock valued at $4,980,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.
Vulcan Materials Company (NYSE VMC) opened at 113.97 on Friday. The firm has a 50-day moving average of $122.58 and a 200-day moving average of $123.09. Vulcan Materials Company has a 1-year low of $105.71 and a 1-year high of $138.18. The firm has a market capitalization of $15.08 billion, a price-to-earnings ratio of 36.69 and a beta of 0.93.
Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, August 2nd. The construction company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.22 by $0.32. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the company posted $0.90 earnings per share. On average, analysts expect that Vulcan Materials Company will post $3.46 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Wednesday, August 23rd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, August 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.88%. Vulcan Materials’s dividend payout ratio (DPR) is 32.36%.
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Several equities research analysts recently commented on the stock. BidaskClub upgraded shares of Vulcan Materials from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Argus lifted their price target on shares of Vulcan Materials from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, June 9th. Zacks Investment Research upgraded shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Tuesday, June 20th. Royal Bank Of Canada reiterated a “buy” rating and set a $154.00 price target on shares of Vulcan Materials in a research note on Monday, June 19th. Finally, Citigroup Inc. reiterated a “buy” rating on shares of Vulcan Materials in a research note on Thursday, May 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $139.67.
In other Vulcan Materials news, VP Ejaz A. Khan sold 2,024 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $125.30, for a total transaction of $253,607.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stanley G. Bass sold 4,413 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $132.00, for a total transaction of $582,516.00. Following the sale, the insider now directly owns 21,939 shares in the company, valued at $2,895,948. The disclosure for this sale can be found here. Insiders have sold 6,743 shares of company stock worth $876,515 over the last three months. 0.89% of the stock is owned by corporate insiders.
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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