Neo Ivy Capital Management Takes $2.68 Million Position in Vulcan Materials Company (NYSE:VMC)

Key Points

• Neo Ivy Capital Management acquired 11,494 shares of Vulcan Materials, valued at approximately $2.68 million, making it the fund's 17th largest position.
• Several hedge funds have increased their holdings in Vulcan Materials, with institutional investors owning 90.39% of the company's stock, reflecting significant investor interest.
• Vulcan Materials' latest earnings report revealed an EPS of $1.00, exceeding expectations and showing a year-over-year revenue growth of 5.8%.

Neo Ivy Capital Management purchased a new stake in Vulcan Materials Company (NYSE:VMC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,494 shares of the construction company's stock, valued at approximately $2,682,000. Vulcan Materials makes up about 0.8% of Neo Ivy Capital Management's holdings, making the stock its 17th biggest position.

Several other institutional investors have also bought and sold shares of VMC. Norges Bank acquired a new position in shares of Vulcan Materials during the fourth quarter worth about $380,369,000. BNP Paribas Financial Markets increased its stake in shares of Vulcan Materials by 239.8% during the fourth quarter. BNP Paribas Financial Markets now owns 739,003 shares of the construction company's stock worth $190,094,000 after purchasing an additional 521,508 shares during the period. Alkeon Capital Management LLC grew its position in Vulcan Materials by 54.1% during the fourth quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company's stock worth $329,769,000 after buying an additional 450,000 shares in the last quarter. Principal Financial Group Inc. grew its position in Vulcan Materials by 7.4% during the first quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company's stock worth $1,518,291,000 after buying an additional 445,691 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Vulcan Materials by 271.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 559,643 shares of the construction company's stock valued at $143,957,000 after purchasing an additional 408,803 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Insider Activity

In other Vulcan Materials news, SVP David P. Clement sold 1,500 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $270.00, for a total transaction of $405,000.00. Following the completion of the sale, the senior vice president owned 2,832 shares in the company, valued at $764,640. This represents a 34.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.61% of the company's stock.

Vulcan Materials Stock Performance

Vulcan Materials stock traded down $2.62 during trading on Monday, reaching $272.22. The company had a trading volume of 213,554 shares, compared to its average volume of 1,049,769. The firm has a market capitalization of $35.96 billion, a price-to-earnings ratio of 38.58, a price-to-earnings-growth ratio of 2.47 and a beta of 0.82. Vulcan Materials Company has a 52 week low of $215.08 and a 52 week high of $298.31. The firm's 50-day simple moving average is $265.20 and its 200 day simple moving average is $257.04. The company has a current ratio of 2.42, a quick ratio of 1.51 and a debt-to-equity ratio of 0.60.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.20. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. Vulcan Materials had a return on equity of 12.91% and a net margin of 12.50%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 earnings per share. Sell-side analysts forecast that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th will be given a $0.49 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.96 annualized dividend and a yield of 0.72%. Vulcan Materials's dividend payout ratio (DPR) is 27.80%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Stifel Nicolaus lifted their price objective on Vulcan Materials from $287.00 to $309.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Argus raised shares of Vulcan Materials to a "strong-buy" rating in a report on Thursday, April 24th. Morgan Stanley lowered their price objective on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a research report on Monday. UBS Group upgraded Vulcan Materials from a "neutral" rating to a "buy" rating and raised their price target for the company from $280.00 to $318.00 in a research report on Friday, May 16th. Finally, Stephens set a $315.00 price objective on Vulcan Materials and gave the stock an "overweight" rating in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $301.27.

Vulcan Materials Company Profile

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.