12,115 Shares in Vulcan Materials Company $VMC Bought by Empowered Funds LLC

Key Points

• Empowered Funds LLC initiated a position in Vulcan Materials by purchasing 12,115 shares valued at approximately $3.6 million. Institutional investors collectively own 90.39% of the company.
• Vulcan Materials shares were trading at $259.53, down 3.7%, near the company’s 52-week low of $252.35. The company recently exceeded quarterly earnings and revenue expectations, reporting EPS of $2.59 and revenue of $2.16 billion.
• Insiders sold 18,212 shares worth approximately $5.1 million over the past three months, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $328.64. Vulcan also declared a quarterly dividend of $0.52 per share.

Empowered Funds LLC purchased a new position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,115 shares of the construction company's stock, valued at approximately $3,574,000.

Other institutional investors have also modified their holdings of the company. Burkett Financial Services LLC acquired a new position in Vulcan Materials in the 2nd quarter worth $25,000. Measured Wealth Private Client Group LLC bought a new position in Vulcan Materials during the 3rd quarter worth about $30,000. Birchwood Financial Partners Inc. acquired a new stake in shares of Vulcan Materials in the 4th quarter valued at about $29,000. Meeder Asset Management Inc. raised its stake in shares of Vulcan Materials by 71.7% in the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the construction company's stock valued at $28,000 after purchasing an additional 43 shares during the period. Finally, Clearstead Trust LLC bought a new stake in shares of Vulcan Materials in the second quarter valued at about $37,000. Institutional investors own 90.39% of the company's stock.

Insider Buying and Selling

In related news, SVP David P. Clement sold 2,000 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $285.10, for a total transaction of $570,200.00. Following the completion of the transaction, the senior vice president directly owned 6,716 shares in the company, valued at $1,914,731.60. This represents a 22.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J Thomas Hill sold 14,000 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $276.17, for a total value of $3,866,380.00. Following the completion of the transaction, the director owned 58,209 shares of the company's stock, valued at $16,075,579.53. This represents a 19.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,212 shares of company stock worth $5,083,125 in the last three months. 0.65% of the stock is currently owned by company insiders.

Vulcan Materials Stock Down 3.7%

Vulcan Materials stock opened at $259.53 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20. The company's 50-day moving average is $285.22 and its 200-day moving average is $285.14. The firm has a market capitalization of $33.63 billion, a PE ratio of 30.64, a P/E/G ratio of 2.43 and a beta of 1.05. Vulcan Materials Company has a fifty-two week low of $252.35 and a fifty-two week high of $331.09.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.46 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.14 billion. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The business's revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $2.42 earnings per share. Sell-side analysts anticipate that Vulcan Materials Company will post 9.29 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, August 13th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 13th. Vulcan Materials's payout ratio is 24.56%.

Analyst Ratings Changes

VMC has been the subject of several research reports. Berenberg Bank set a $283.00 price target on shares of Vulcan Materials and gave the stock a "hold" rating in a research note on Tuesday, June 2nd. UBS Group cut their price objective on shares of Vulcan Materials from $350.00 to $349.00 and set a "buy" rating on the stock in a research report on Wednesday, July 8th. Oppenheimer assumed coverage on shares of Vulcan Materials in a report on Thursday, May 28th. They set a "market perform" rating for the company. Raymond James Financial reaffirmed an "outperform" rating on shares of Vulcan Materials in a research report on Wednesday, July 15th. Finally, Wall Street Zen upgraded shares of Vulcan Materials from a "sell" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $328.64.

Vulcan Materials Company Profile

Vulcan Materials Company NYSE: VMC is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company's primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.

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