ABC Arbitrage SA Takes Position in Vulcan Materials Company $VMC

Key Points

• ABC Arbitrage SA opened a new position in Vulcan Materials during the fourth quarter, buying 20,408 shares valued at about $5.82 million.
• Institutional ownership of VMC remains very high, with the article noting that 90.39% of the stock is held by institutional investors and hedge funds, alongside several other large funds increasing or initiating positions.
• Vulcan Materials recently beat earnings expectations, reporting $1.35 EPS and $1.76 billion in revenue, and it also declared a quarterly dividend of $0.52 per share.

ABC Arbitrage SA bought a new position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,408 shares of the construction company's stock, valued at approximately $5,821,000.

A number of other large investors have also bought and sold shares of the stock. Lone Pine Capital LLC acquired a new position in Vulcan Materials during the 3rd quarter worth approximately $425,938,000. Principal Financial Group Inc. lifted its stake in shares of Vulcan Materials by 5.8% in the third quarter. Principal Financial Group Inc. now owns 7,625,271 shares of the construction company's stock valued at $2,345,703,000 after buying an additional 414,828 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Vulcan Materials by 993.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 396,628 shares of the construction company's stock valued at $113,126,000 after buying an additional 360,368 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Vulcan Materials in the 3rd quarter worth about $98,911,000. Finally, Vanguard Group Inc. lifted its position in Vulcan Materials by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 17,207,183 shares of the construction company's stock valued at $5,293,274,000 after acquiring an additional 311,539 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $282.65 on Tuesday. The company has a market capitalization of $36.68 billion, a PE ratio of 33.61, a PEG ratio of 2.06 and a beta of 1.09. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.51. The stock's 50 day moving average price is $282.35 and its 200-day moving average price is $292.51. Vulcan Materials Company has a twelve month low of $252.35 and a twelve month high of $331.09.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.25. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.64 billion. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.Vulcan Materials's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company posted $1.00 earnings per share. On average, equities analysts anticipate that Vulcan Materials Company will post 9.28 EPS for the current year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, May 22nd. Vulcan Materials's payout ratio is 24.73%.

Analyst Ratings Changes

A number of equities analysts have issued reports on VMC shares. Stifel Nicolaus set a $333.00 price target on Vulcan Materials in a research note on Thursday, April 30th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $320.00 target price (down from $335.00) on shares of Vulcan Materials in a report on Wednesday, March 4th. B. Riley Financial assumed coverage on Vulcan Materials in a report on Thursday, January 15th. They set a "buy" rating and a $345.00 price target for the company. Citigroup lowered their price target on Vulcan Materials from $365.00 to $355.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Vulcan Materials in a research note on Tuesday, January 27th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $329.62.

Insider Buying and Selling

In other news, Director Melissa H. Anderson sold 1,137 shares of the firm's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $303.72, for a total transaction of $345,329.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.65% of the company's stock.

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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