12,831 Shares in Vulcan Materials Company $VMC Purchased by Meiji Yasuda Asset Management Co Ltd.

Key Points

• Meiji Yasuda Asset Management purchased 12,831 shares of Vulcan Materials in the second quarter, valued at approximately $3.8 million. Institutional investors collectively own 90.39% of the company.
• Vulcan Materials exceeded quarterly expectations, reporting $2.59 in earnings per share versus the $2.46 consensus estimate, while revenue rose 2.5% year over year to $2.16 billion.
• The company declared a quarterly dividend of $0.52 per share, representing an annualized payout of $2.08 and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $327.93.

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,831 shares of the construction company's stock, valued at approximately $3,785,000.

A number of other large investors have also added to or reduced their stakes in VMC. Atria Investments Inc grew its holdings in Vulcan Materials by 54.1% during the fourth quarter. Atria Investments Inc now owns 12,334 shares of the construction company's stock valued at $3,518,000 after purchasing an additional 4,331 shares during the period. SCS Capital Management LLC bought a new stake in shares of Vulcan Materials in the second quarter valued at $19,628,000. BlackRock Inc. bought a new stake in shares of Vulcan Materials in the second quarter valued at $2,868,444,000. Westfield Capital Management Co. LP lifted its position in shares of Vulcan Materials by 7.4% during the 4th quarter. Westfield Capital Management Co. LP now owns 254,044 shares of the construction company's stock valued at $72,459,000 after buying an additional 17,488 shares during the last quarter. Finally, Palmer Knight Co bought a new position in shares of Vulcan Materials during the 2nd quarter worth $9,458,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Vulcan Materials Stock Down 0.1%

Shares of NYSE VMC opened at $275.87 on Tuesday. Vulcan Materials Company has a 52 week low of $252.35 and a 52 week high of $331.09. The business has a 50-day simple moving average of $288.85 and a two-hundred day simple moving average of $287.23. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. The company has a market cap of $35.75 billion, a P/E ratio of 32.57, a P/E/G ratio of 1.99 and a beta of 1.06.

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

Vulcan Materials Dividend Announcement

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

Insider Buying and Selling

In related news, SVP David P. Clement sold 2,212 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $292.29, for a total transaction of $646,545.48. Following the sale, the senior vice president owned 8,716 shares of the company's stock, valued at approximately $2,547,599.64. This represents a 20.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.65% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VMC. Barclays boosted their price objective on Vulcan Materials from $296.00 to $340.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Berenberg Bank set a $283.00 price target on shares of Vulcan Materials and gave the company a "hold" rating in a research report on Tuesday, June 2nd. UBS Group dropped their price target on shares of Vulcan Materials from $350.00 to $349.00 and set a "buy" rating on the stock in a research note on Wednesday, July 8th. Citigroup cut their price objective on shares of Vulcan Materials from $355.00 to $350.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $327.93.

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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