Meyer Handelman Co. Buys New Holdings in Vulcan Materials (NYSE:VMC)

Meyer Handelman Co. acquired a new position in shares of Vulcan Materials (NYSE:VMC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,193 shares of the construction company's stock, valued at approximately $278,000.

Several other hedge funds have also made changes to their positions in VMC. Geneos Wealth Management Inc. raised its holdings in Vulcan Materials by 16.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 254 shares of the construction company's stock valued at $65,000 after buying an additional 36 shares during the period. Quadrant Capital Group LLC grew its stake in Vulcan Materials by 2.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,791 shares of the construction company's stock valued at $461,000 after purchasing an additional 44 shares in the last quarter. Howard Capital Management Inc. raised its position in shares of Vulcan Materials by 5.2% in the 4th quarter. Howard Capital Management Inc. now owns 906 shares of the construction company's stock valued at $233,000 after purchasing an additional 45 shares in the last quarter. Washington Trust Advisors Inc. boosted its stake in shares of Vulcan Materials by 30.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 208 shares of the construction company's stock valued at $54,000 after buying an additional 48 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC grew its position in shares of Vulcan Materials by 4.3% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,169 shares of the construction company's stock worth $301,000 after buying an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Raymond James dropped their price target on Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. UBS Group upgraded shares of Vulcan Materials from a "neutral" rating to a "buy" rating and increased their price objective for the company from $280.00 to $318.00 in a report on Friday, May 16th. Morgan Stanley raised their price objective on shares of Vulcan Materials from $273.00 to $303.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Royal Bank of Canada increased their price target on Vulcan Materials from $269.00 to $286.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 19th. Finally, Seaport Res Ptn upgraded Vulcan Materials to a "strong-buy" rating in a report on Friday, March 21st. 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 company's stock. Based on data from MarketBeat, Vulcan Materials currently has an average rating of "Moderate Buy" and a consensus price target of $302.91.

Vulcan Materials Price Performance

NYSE VMC traded up $1.87 on Tuesday, reaching $265.25. The company's stock had a trading volume of 1,094,996 shares, compared to its average volume of 963,423. The business has a 50-day moving average price of $252.99 and a 200 day moving average price of $259.27. Vulcan Materials has a 52 week low of $215.08 and a 52 week high of $298.31. The firm has a market cap of $35.04 billion, a PE ratio of 38.72, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84. The company has a current ratio of 1.83, a quick ratio of 2.02 and a debt-to-equity ratio of 0.60.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The construction company reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.20. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. The company had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.64 billion. During the same period in the prior year, the firm earned $0.80 EPS. Vulcan Materials's quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts expect that Vulcan Materials will post 8.69 EPS for the current year.

Vulcan Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, May 23rd. Vulcan Materials's dividend payout ratio (DPR) is presently 27.80%.

Insider Buying and Selling

In other Vulcan Materials news, SVP David P. Clement sold 1,500 shares of the business's stock in a transaction dated 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 transaction, the senior vice president now owns 2,832 shares of the company's stock, valued at approximately $764,640. The trade was a 34.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is currently owned by company insiders.

Vulcan Materials 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.