Capital World Investors Makes New $388.03 Million Investment in Vulcan Materials (NYSE:VMC)

Capital World Investors purchased a new position in shares of Vulcan Materials (NYSE:VMC) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,421,762 shares of the construction company’s stock, valued at approximately $388,027,000. Capital World Investors owned about 1.08% of Vulcan Materials at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Contravisory Investment Management Inc. lifted its holdings in shares of Vulcan Materials by 1.6% in the 1st quarter. Contravisory Investment Management Inc. now owns 2,579 shares of the construction company’s stock valued at $704,000 after purchasing an additional 40 shares during the last quarter. Commerce Bank increased its position in Vulcan Materials by 1.0% in the 4th quarter. Commerce Bank now owns 4,442 shares of the construction company’s stock valued at $1,008,000 after acquiring an additional 43 shares during the period. Brighton Jones LLC increased its position in Vulcan Materials by 2.4% in the 4th quarter. Brighton Jones LLC now owns 1,916 shares of the construction company’s stock valued at $435,000 after acquiring an additional 45 shares during the period. Covestor Ltd increased its position in Vulcan Materials by 13.6% in the 1st quarter. Covestor Ltd now owns 425 shares of the construction company’s stock valued at $116,000 after acquiring an additional 51 shares during the period. Finally, Stonegate Investment Group LLC increased its position in Vulcan Materials by 0.3% in the 4th quarter. Stonegate Investment Group LLC now owns 20,255 shares of the construction company’s stock valued at $4,598,000 after acquiring an additional 52 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Trading Up 3.1 %

Shares of VMC stock traded up $7.94 during mid-day trading on Friday, hitting $261.71. 673,485 shares of the company’s stock were exchanged, compared to its average volume of 686,519. Vulcan Materials has a fifty-two week low of $190.51 and a fifty-two week high of $276.58. The stock has a 50-day simple moving average of $252.03 and a two-hundred day simple moving average of $253.48. The company has a quick ratio of 1.81, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. The stock has a market cap of $34.61 billion, a price-to-earnings ratio of 38.21, a PEG ratio of 2.11 and a beta of 0.82.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Thursday, May 2nd. The construction company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.11). The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Vulcan Materials had a return on equity of 12.32% and a net margin of 11.92%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business posted $0.95 earnings per share. Equities analysts expect that Vulcan Materials will post 8.32 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, August 15th. Vulcan Materials’s dividend payout ratio (DPR) is currently 26.86%.

Insider Buying and Selling

In related news, SVP David P. Clement sold 1,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $249.50, for a total value of $249,500.00. Following the transaction, the senior vice president now directly owns 1,660 shares of the company’s stock, valued at approximately $414,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Vulcan Materials news, SVP David P. Clement sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $249.50, for a total value of $249,500.00. Following the transaction, the senior vice president now directly owns 1,660 shares of the company’s stock, valued at $414,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Thompson S. Baker II sold 6,610 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $272.64, for a total value of $1,802,150.40. Following the completion of the transaction, the president now directly owns 4,784 shares in the company, valued at $1,304,309.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,210 shares of company stock valued at $4,653,520. 0.62% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Citigroup dropped their target price on Vulcan Materials from $322.00 to $297.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Royal Bank of Canada boosted their target price on Vulcan Materials from $269.00 to $272.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. Loop Capital dropped their target price on Vulcan Materials from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Stephens upped their price target on Vulcan Materials from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, Truist Financial upped their price target on Vulcan Materials from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Vulcan Materials has a consensus rating of “Moderate Buy” and a consensus price target of $277.08.

About Vulcan Materials

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in 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.