NorthCrest Asset Manangement LLC Makes New $312,000 Investment in Vulcan Materials Company $VMC

Key Points

• NorthCrest Asset Management LLC acquired 1,170 shares of Vulcan Materials Company valued at approximately $312,000 in the second quarter.
• During the same period, several institutional investors, including Wealth Enhancement Advisory Services LLC, increased their stakes, with institutional ownership now at 90.39%.
• Vulcan Materials announced a quarterly dividend of $0.49 per share, reflecting a 0.7% dividend yield and a payout ratio of 27.37%.

NorthCrest Asset Manangement LLC acquired a new position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,170 shares of the construction company's stock, valued at approximately $312,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in Vulcan Materials in the first quarter valued at approximately $27,000. Manchester Capital Management LLC grew its position in shares of Vulcan Materials by 26.9% in the 1st quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock valued at $43,000 after buying an additional 39 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Vulcan Materials during the 1st quarter worth $45,000. Fourth Dimension Wealth LLC acquired a new position in Vulcan Materials in the fourth quarter valued at $46,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Vulcan Materials during the first quarter worth about $54,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on VMC shares. JPMorgan Chase & Co. lifted their price target on Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Citigroup reiterated a "buy" rating and set a $321.00 price target (up previously from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Barclays increased their price objective on Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Morgan Stanley dropped their target price on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a report on Monday, July 28th. Finally, Royal Bank Of Canada cut their price objective on shares of Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $308.36.

Insider Activity

In related news, SVP David P. Clement sold 698 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $298.56, for a total transaction of $208,394.88. Following the completion of the transaction, the senior vice president owned 2,832 shares in the company, valued at $845,521.92. The trade was a 19.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.61% of the company's stock.

Vulcan Materials Price Performance

VMC traded up $1.37 during trading on Monday, reaching $299.16. 730,264 shares of the stock were exchanged, compared to its average volume of 691,888. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13. The company has a market capitalization of $39.52 billion, a price-to-earnings ratio of 41.78, a P/E/G ratio of 2.43 and a beta of 0.86. Vulcan Materials Company has a 1 year low of $215.08 and a 1 year high of $302.21. The business's 50 day moving average price is $284.65 and its two-hundred day moving average price is $264.17.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.45 EPS for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.23 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The company's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.35 EPS. As a group, equities research analysts anticipate that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 14th. Vulcan Materials's dividend payout ratio is presently 27.37%.

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.