277,780 Shares in Vulcan Materials Company $VMC Acquired by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board acquired 277,780 shares of Vulcan Materials in the second quarter, worth approximately $81.9 million and representing about 0.21% of the company. Institutional investors collectively own 90.39% of VMC.
• Vulcan Materials exceeded quarterly expectations, reporting EPS of $2.59 versus the $2.46 consensus and revenue of $2.16 billion. Revenue increased 2.5% year over year.
• The company declared a quarterly dividend of $0.52 per share, or $2.08 annualized, for a 0.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $328.64.

Canada Pension Plan Investment Board purchased a new position in Vulcan Materials Company (NYSE:VMC - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 277,780 shares of the construction company's stock, valued at approximately $81,948,000. Canada Pension Plan Investment Board owned about 0.21% of Vulcan Materials at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Legal & General Group Plc acquired a new stake in Vulcan Materials in the 2nd quarter valued at approximately $184,698,000. The Manufacturers Life Insurance Company bought a new position in Vulcan Materials during the 2nd quarter valued at about $451,119,000. Park Presidio Capital LLC acquired a new position in shares of Vulcan Materials in the 2nd quarter worth approximately $164,625,000. Jones Financial Companies Lllp bought a new stake in shares of Vulcan Materials during the second quarter worth $63,000. Finally, Stockbridge Partners LLC acquired a new stake in Vulcan Materials in the 2nd quarter valued at about $314,470,000. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Stock Performance

NYSE VMC opened at $273.79 on Thursday. The firm has a market capitalization of $35.48 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 1.97 and a beta of 1.06. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47. The firm's fifty day moving average price is $287.90 and its two-hundred day moving average price is $286.71. Vulcan Materials Company has a 1 year low of $252.35 and a 1 year high of $331.09.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 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 the consensus estimate of $2.14 billion. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The company's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.42 EPS. As a group, research analysts anticipate that Vulcan Materials Company will post 9.29 EPS for the current year.

Vulcan Materials Announces Dividend

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

Analyst Ratings Changes

VMC has been the subject of a number of recent research reports. Stifel Nicolaus set a $333.00 price target on shares of Vulcan Materials in a research note on Thursday, April 30th. Royal Bank Of Canada lifted their price objective on shares of Vulcan Materials from $293.00 to $300.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. Stephens lifted their price target on shares of Vulcan Materials from $330.00 to $340.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Raymond James Financial reissued an "outperform" rating on shares of Vulcan Materials in a research report on Wednesday, July 15th. Finally, Oppenheimer started coverage on Vulcan Materials in a report on Thursday, May 28th. They issued a "market perform" rating for the company. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $328.64.

Insiders Place Their Bets

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $292.29, for a total transaction of $646,545.48. Following the transaction, the senior vice president owned 8,716 shares of the company's stock, valued at $2,547,599.64. The trade was a 20.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is currently owned by company insiders.

About Vulcan Materials

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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