ABC Arbitrage SA Purchases New Holdings in Vulcan Materials Company (NYSE:VMC)

Key Points

• ABC Arbitrage SA acquired 4,495 shares of Vulcan Materials Company, valued at approximately $1,049,000, according to their recent 13F filing with the SEC.
• Vulcan Materials reported a missed earnings estimate of $2.45 per share for the quarter, with revenue of $2.10 billion, below the consensus estimate of $2.23 billion.
• The company announced a quarterly dividend of $0.49 per share with an annualized yield of 0.7%, set to be paid on September 3rd.

ABC Arbitrage SA bought a new position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,495 shares of the construction company's stock, valued at approximately $1,049,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC increased its position in shares of Vulcan Materials by 26.9% during the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock worth $43,000 after acquiring an additional 39 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Vulcan Materials by 2.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,791 shares of the construction company's stock valued at $461,000 after buying an additional 44 shares in the last quarter. Alpha Omega Wealth Management LLC lifted its stake in Vulcan Materials by 1.1% during the first quarter. Alpha Omega Wealth Management LLC now owns 4,336 shares of the construction company's stock worth $1,012,000 after purchasing an additional 46 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Vulcan Materials by 5.6% in the fourth quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock worth $249,000 after purchasing an additional 51 shares during the period. Finally, Marks Group Wealth Management Inc boosted its holdings in shares of Vulcan Materials by 2.7% in the 1st quarter. Marks Group Wealth Management Inc now owns 2,203 shares of the construction company's stock valued at $514,000 after buying an additional 57 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Stock Up 1.7%

Vulcan Materials stock traded up $4.82 during trading hours on Friday, hitting $286.92. The company had a trading volume of 638,398 shares, compared to its average volume of 1,060,300. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13. Vulcan Materials Company has a fifty-two week low of $215.08 and a fifty-two week high of $298.31. The firm's fifty day moving average is $266.62 and its 200-day moving average is $257.98. The firm has a market capitalization of $37.91 billion, a P/E ratio of 40.07, a price-to-earnings-growth ratio of 2.31 and a beta of 0.83.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). The business had revenue of $2.10 billion during 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%. Vulcan Materials's revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.35 earnings per share. On average, research analysts forecast that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Thursday, August 14th will be paid a $0.49 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.96 dividend on an annualized basis and a yield of 0.7%. Vulcan Materials's dividend payout ratio (DPR) is presently 27.37%.

Insider Transactions at Vulcan Materials

In related 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 owned 2,832 shares of the company's stock, valued at approximately $764,640. The trade was a 34.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.62% of the company's stock.

Analyst Ratings Changes

VMC has been the subject of a number of recent research reports. Argus upgraded Vulcan Materials to a "strong-buy" rating in a research note on Thursday, April 24th. Morgan Stanley dropped their price target on shares of Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a research report on Monday, July 28th. Stephens set a $315.00 price objective on shares of Vulcan Materials and gave the company an "overweight" rating in a report on Thursday, May 1st. Wolfe Research raised Vulcan Materials from a "peer perform" rating to an "outperform" rating in a report on Thursday, April 10th. Finally, Citigroup restated a "buy" rating and set a $321.00 target price (up from $305.00) on shares of Vulcan Materials in a report on Monday. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $304.27.

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.