New York State Common Retirement Fund raised its stake in Vulcan Materials Company (NYSE:VMC) by 10.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 446,488 shares of the construction company’s stock after purchasing an additional 42,197 shares during the period. New York State Common Retirement Fund owned about 0.34% of Vulcan Materials worth $53,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the business. Sei Investments Co. raised its position in Vulcan Materials by 27.8% in the 3rd quarter. Sei Investments Co. now owns 72,418 shares of the construction company’s stock valued at $8,662,000 after purchasing an additional 15,741 shares in the last quarter. Global X MANAGEMENT CO LLC raised its position in Vulcan Materials by 20.9% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 7,222 shares of the construction company’s stock valued at $864,000 after purchasing an additional 1,247 shares in the last quarter. Jennison Associates LLC raised its position in Vulcan Materials by 2.2% in the 3rd quarter. Jennison Associates LLC now owns 595,413 shares of the construction company’s stock valued at $71,211,000 after purchasing an additional 12,892 shares in the last quarter. Candriam Luxembourg S.C.A. raised its position in Vulcan Materials by 29.1% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 72,900 shares of the construction company’s stock valued at $8,719,000 after purchasing an additional 16,428 shares in the last quarter. Finally, Pax World Management LLC raised its position in Vulcan Materials by 58.3% in the 3rd quarter. Pax World Management LLC now owns 95,000 shares of the construction company’s stock valued at $11,362,000 after purchasing an additional 35,000 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors.
VMC has been the topic of several research analyst reports. Zacks Investment Research lowered 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. Citigroup reissued a “buy” rating and set a $140.00 target price (down previously from $145.00) on shares of Vulcan Materials in a research report on Monday, October 9th. Royal Bank Of Canada reissued a “buy” rating and set a $154.00 target price on shares of Vulcan Materials in a research report on Tuesday, October 10th. Finally, Bank of America cut their target price on Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating on the stock in a research report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $140.00.
Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, November 1st. The construction company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.40 by ($0.36). Vulcan Materials had a return on equity of 8.71% and a net margin of 10.20%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business posted $1.01 EPS. Vulcan Materials’s revenue was up 8.6% on a year-over-year basis. sell-side 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. Investors of record on Wednesday, November 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.81%. Vulcan Materials’s dividend payout ratio is presently 34.97%.
In related news, insider Michael R. Mills sold 981 shares of the firm’s stock in a transaction that occurred 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 approximately $2,806,036.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.89% of the company’s stock.
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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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