Public Sector Pension Investment Board Raises Stake in Vulcan Materials (NYSE:VMC)

Public Sector Pension Investment Board raised its position in shares of Vulcan Materials (NYSE:VMC) by 65.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,794 shares of the construction company’s stock after purchasing an additional 8,240 shares during the quarter. Public Sector Pension Investment Board’s holdings in Vulcan Materials were worth $3,620,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of VMC. NEXT Financial Group Inc lifted its holdings in Vulcan Materials by 135.7% during the second quarter. NEXT Financial Group Inc now owns 165 shares of the construction company’s stock valued at $28,000 after purchasing an additional 95 shares in the last quarter. Bbva USA purchased a new position in Vulcan Materials during the second quarter valued at approximately $35,000. Ameritas Investment Company LLC purchased a new position in Vulcan Materials during the first quarter valued at approximately $47,000. BDO Wealth Advisors LLC purchased a new position in Vulcan Materials during the first quarter valued at approximately $52,000. Finally, Berman Capital Advisors LLC lifted its holdings in Vulcan Materials by 82.6% during the second quarter. Berman Capital Advisors LLC now owns 314 shares of the construction company’s stock valued at $53,000 after purchasing an additional 142 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on the stock. Loop Capital upgraded shares of Vulcan Materials from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a research report on Wednesday, October 6th. Royal Bank of Canada lifted their price objective on shares of Vulcan Materials from $182.00 to $198.00 and gave the company a “sector perform” rating in a research report on Thursday, October 7th. Morgan Stanley lifted their price objective on shares of Vulcan Materials from $186.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, August 9th. Finally, Jefferies Financial Group upgraded shares of Vulcan Materials from a “hold” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $207.00 in a research report on Friday, June 25th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $186.85.

In other news, SVP David P. Clement sold 3,716 shares of the business’s stock in a transaction on Tuesday, August 24th. The shares were sold at an average price of $184.34, for a total transaction of $685,007.44. Following the completion of the sale, the senior vice president now directly owns 7,593 shares of the company’s stock, valued at $1,399,693.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stanley G. Bass sold 33,521 shares of the business’s stock in a transaction on Tuesday, August 31st. The shares were sold at an average price of $185.52, for a total transaction of $6,218,815.92. The disclosure for this sale can be found here. Insiders have sold 106,795 shares of company stock worth $19,874,999 in the last quarter. Company insiders own 0.55% of the company’s stock.

Shares of VMC opened at $170.48 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.92 and a current ratio of 3.67. Vulcan Materials has a fifty-two week low of $131.36 and a fifty-two week high of $194.17. The stock has a market capitalization of $22.62 billion, a PE ratio of 33.96 and a beta of 0.58. The company’s fifty day moving average is $179.33 and its 200 day moving average is $178.26.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, August 4th. The construction company reported $1.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.08). Vulcan Materials had a net margin of 13.64% and a return on equity of 10.71%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the firm earned $1.60 EPS. The company’s revenue was up 2.9% on a year-over-year basis. As a group, research analysts forecast that Vulcan Materials will post 5.09 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 2nd. Shareholders of record on Tuesday, November 16th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, November 15th. Vulcan Materials’s dividend payout ratio (DPR) is 31.62%.

Vulcan Materials Profile

Vulcan Materials Co engages in the provision of basic materials and supply for infrastructure and construction industry. It operates through the following business segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment produces and sells asphalt mix and ready-mixed concrete primarily in its mid-Atlantic, Georgia, Southwestern, Tennessee, and Western markets.

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Institutional Ownership by Quarter for Vulcan Materials (NYSE:VMC)

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