Oregon Public Employees Retirement Fund increased its stake in Vulcan Materials Co. (NYSE:VMC) by 32.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,596 shares of the company’s stock after buying an additional 7,920 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Vulcan Materials were worth $3,707,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Architects Inc raised its position in Vulcan Materials by 1,268.9% in the second quarter. Financial Architects Inc now owns 1,013 shares of the company’s stock valued at $122,000 after buying an additional 939 shares during the last quarter. Tredje AP fonden raised its position in Vulcan Materials by 173.9% in the second quarter. Tredje AP fonden now owns 1,260 shares of the company’s stock valued at $152,000 after buying an additional 800 shares during the last quarter. Thompson Davis & CO. Inc. raised its position in Vulcan Materials by 3,155.6% in the second quarter. Thompson Davis & CO. Inc. now owns 1,465 shares of the company’s stock valued at $176,000 after buying an additional 1,420 shares during the last quarter. Sunbelt Securities Inc. raised its position in Vulcan Materials by 179.9% in the second quarter. Sunbelt Securities Inc. now owns 1,531 shares of the company’s stock valued at $184,000 after buying an additional 984 shares during the last quarter. Finally, Baird Financial Group Inc. acquired a new position in Vulcan Materials during the second quarter valued at approximately $200,000. 88.13% of the stock is owned by institutional investors.
Shares of Vulcan Materials Co. (NYSE:VMC) traded up 1.86% during trading on Friday, hitting $132.07. 690,415 shares of the stock were exchanged. The firm has a 50 day moving average of $118.58 and a 200-day moving average of $117.47. Vulcan Materials Co. has a 12-month low of $78.83 and a 12-month high of $138.18. The company has a market cap of $17.47 billion, a price-to-earnings ratio of 48.22 and a beta of 1.19.
Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, November 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.19 by $0.18. Vulcan Materials had a return on equity of 8.83% and a net margin of 10.38%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, analysts forecast that Vulcan Materials Co. will post $3.02 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Wednesday, November 23rd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Monday, November 21st. Vulcan Materials’s dividend payout ratio is presently 29.20%.
Several research firms have recently commented on VMC. Argus reissued a “buy” rating and issued a $129.00 price objective on shares of Vulcan Materials in a research note on Wednesday, August 3rd. Bank of America Corp. cut shares of Vulcan Materials from a “buy” rating to a “neutral” rating in a report on Wednesday, November 16th. They noted that the move was a valuation call. SunTrust Banks Inc. raised shares of Vulcan Materials from a “hold” rating to a “buy” rating and raised their target price for the company from $110.00 to $129.00 in a report on Wednesday, October 26th. Jefferies Group reaffirmed a “hold” rating on shares of Vulcan Materials in a report on Wednesday, August 31st. Finally, Zacks Investment Research cut shares of Vulcan Materials from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. One research analyst has rated the stock with a sell rating, five have assigned 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 a consensus target price of $130.70.
In other Vulcan Materials news, insider David J. Grayson sold 2,121 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $118.49, for a total value of $251,317.29. Following the completion of the transaction, the insider now owns 16,648 shares in the company, valued at approximately $1,972,621.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.92% of the stock is owned by company insiders.
Vulcan Materials Company Profile
Vulcan Materials Company is a producer of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company has four segments organized around its principal product lines: Aggregates, Asphalt Mix, Concrete and Calcium. The Company operates approximately 344 aggregates facilities.