First Foundation Advisors raised its stake in Vulcan Materials (NYSE:VMC) by 53.5% during the third quarter, Holdings Channel reports. The institutional investor owned 11,765 shares of the construction company’s stock after purchasing an additional 4,103 shares during the quarter. First Foundation Advisors’ holdings in Vulcan Materials were worth $1,308,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Baldwin Investment Management LLC acquired a new stake in shares of Vulcan Materials during the second quarter worth about $632,000. FDx Advisors Inc. acquired a new stake in shares of Vulcan Materials during the second quarter worth about $263,000. Wolverine Asset Management LLC lifted its position in shares of Vulcan Materials by 55,740.3% during the second quarter. Wolverine Asset Management LLC now owns 40,205 shares of the construction company’s stock worth $5,188,000 after purchasing an additional 40,133 shares in the last quarter. Sei Investments Co. lifted its position in shares of Vulcan Materials by 45.4% during the second quarter. Sei Investments Co. now owns 163,762 shares of the construction company’s stock worth $21,136,000 after purchasing an additional 51,168 shares in the last quarter. Finally, Bridgeworth LLC lifted its position in shares of Vulcan Materials by 20.3% during the second quarter. Bridgeworth LLC now owns 3,575 shares of the construction company’s stock worth $460,000 after purchasing an additional 603 shares in the last quarter. 96.16% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on VMC shares. DA Davidson set a $118.00 price target on shares of Vulcan Materials and gave the stock a “hold” rating in a research report on Thursday, October 11th. Zacks Investment Research cut shares of Vulcan Materials from a “hold” rating to a “strong sell” rating in a research report on Friday, October 12th. Argus reduced their price target on shares of Vulcan Materials to $122.00 and set a “buy” rating on the stock in a research report on Monday, August 20th. Bank of America cut shares of Vulcan Materials from a “neutral” rating to an “underperform” rating and set a $103.00 price target on the stock. in a research report on Wednesday, October 17th. Finally, ValuEngine cut shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $121.45.
Shares of NYSE:VMC opened at $105.71 on Friday. The company has a market capitalization of $13.96 billion, a P/E ratio of 27.75, a PEG ratio of 1.07 and a beta of 0.99. Vulcan Materials has a fifty-two week low of $82.52 and a fifty-two week high of $141.20. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.11 and a current ratio of 1.70.
Vulcan Materials (NYSE:VMC) last issued its earnings results on Tuesday, October 30th. The construction company reported $1.40 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.40. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Vulcan Materials had a net margin of 16.84% and a return on equity of 10.20%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 earnings per share. As a group, analysts predict that Vulcan Materials will post 3.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Wednesday, November 21st will be issued a $0.28 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $1.12 annualized dividend and a yield of 1.06%. Vulcan Materials’s dividend payout ratio (DPR) is 36.84%.
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About Vulcan Materials
Vulcan Materials Company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment provides crushed stone, sand and gravel, sand, and other aggregates; and related products and services for use in the construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.
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