Swiss National Bank lowered its stake in Vulcan Materials (NYSE:VMC) by 3.6% during the third quarter, Holdings Channel reports. The institutional investor owned 422,042 shares of the construction company’s stock after selling 15,600 shares during the period. Swiss National Bank’s holdings in Vulcan Materials were worth $46,931,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Baldwin Investment Management LLC acquired a new position in Vulcan Materials in the 2nd quarter valued at about $632,000. FDx Advisors Inc. acquired a new position in Vulcan Materials in the 2nd quarter valued at about $263,000. Wolverine Asset Management LLC grew its stake in Vulcan Materials by 55,740.3% in the 2nd quarter. Wolverine Asset Management LLC now owns 40,205 shares of the construction company’s stock valued at $5,188,000 after buying an additional 40,133 shares during the last quarter. Sei Investments Co. grew its stake in Vulcan Materials by 45.4% in the 2nd quarter. Sei Investments Co. now owns 163,762 shares of the construction company’s stock valued at $21,136,000 after buying an additional 51,168 shares during the last quarter. Finally, Bridgeworth LLC grew its stake in Vulcan Materials by 20.3% in the 2nd quarter. Bridgeworth LLC now owns 3,575 shares of the construction company’s stock valued at $460,000 after buying an additional 603 shares during the last quarter. Institutional investors and hedge funds own 96.16% of the company’s stock.
In other news, Chairman J Thomas Hill purchased 1,955 shares of the business’s stock in a transaction dated Tuesday, November 6th. The stock was bought at an average price of $101.66 per share, with a total value of $198,745.30. Following the acquisition, the chairman now owns 57,348 shares in the company, valued at approximately $5,829,997.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.89% of the company’s stock.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Tuesday, October 30th. The construction company reported $1.40 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.40. Vulcan Materials had a net margin of 16.84% and a return on equity of 10.20%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the firm posted $1.04 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, research analysts forecast that Vulcan Materials will post 3.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Wednesday, November 21st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Tuesday, November 20th. Vulcan Materials’s dividend payout ratio (DPR) is presently 36.84%.
A number of research firms have issued reports on VMC. ValuEngine raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Wednesday, November 7th. Citigroup cut their price objective on shares of Vulcan Materials from $130.00 to $128.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. Nomura began coverage on shares of Vulcan Materials in a report on Monday, October 29th. They issued a “neutral” rating and a $100.00 price objective for the company. Barclays reissued a “buy” rating and issued a $132.00 price objective on shares of Vulcan Materials in a report on Thursday, October 18th. Finally, Stephens set a $125.00 price objective on shares of Vulcan Materials and gave the company a “buy” rating in a report on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Vulcan Materials presently has an average rating of “Hold” and an average target price of $121.45.
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Vulcan Materials Profile
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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