Cramer Rosenthal Mcglynn LLC increased its stake in Vulcan Materials Company (NYSE:VMC) by 48.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 689,099 shares of the construction company’s stock after buying an additional 226,335 shares during the quarter. Vulcan Materials comprises approximately 1.3% of Cramer Rosenthal Mcglynn LLC’s holdings, making the stock its 17th largest holding. Cramer Rosenthal Mcglynn LLC owned approximately 0.52% of Vulcan Materials worth $82,416,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. San Francisco Sentry Investment Group CA bought a new stake in shares of Vulcan Materials during the third quarter worth $13,548,000. FDO Partners LLC bought a new stake in shares of Vulcan Materials during the third quarter worth $283,000. Westfield Capital Management Co. LP lifted its position in shares of Vulcan Materials by 29.0% during the third quarter. Westfield Capital Management Co. LP now owns 284,381 shares of the construction company’s stock worth $34,012,000 after purchasing an additional 63,859 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of Vulcan Materials by 47.6% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 3,292 shares of the construction company’s stock worth $394,000 after purchasing an additional 1,062 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Vulcan Materials by 102.5% during the third quarter. KBC Group NV now owns 33,030 shares of the construction company’s stock worth $3,950,000 after purchasing an additional 16,719 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.
In other news, insider Michael R. Mills sold 981 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $117.55, for a total transaction of $115,316.55. Following the transaction, the insider now owns 23,871 shares in the company, valued at $2,806,036.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.89% of the company’s stock.
Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Wednesday, November 1st. The construction company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.36). The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Vulcan Materials had a net margin of 10.20% and a return on equity of 8.71%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 EPS. research analysts forecast that Vulcan Materials Company will post 3.04 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.83%. Vulcan Materials’s dividend payout ratio is currently 34.97%.
Several analysts have recently weighed in on the company. Zacks Investment Research downgraded Vulcan Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Jefferies Group set a $114.00 target price on Vulcan Materials and gave the stock a “hold” rating in a research report on Tuesday, August 22nd. Royal Bank Of Canada reiterated a “buy” rating and set a $154.00 target price on shares of Vulcan Materials in a research report on Tuesday, October 10th. Citigroup reiterated a “buy” rating and set a $140.00 target price (down from $145.00) on shares of Vulcan Materials in a research report on Monday, October 9th. Finally, Bank of America cut their price target on Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating on the stock in a research note on Thursday, October 19th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $140.00.
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Vulcan Materials 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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