Adage Capital Partners GP L.L.C. Buys 205,100 Shares of Vulcan Materials Company $VMC

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Vulcan Materials Company by 62.5% during the first quarter, owning approximately 533,498 shares worth $124.5 million.
• Multiple institutional investors have also increased their positions in Vulcan Materials, with the majority of the company's stock (90.39%) held by hedge funds and other institutional investors.
• Vulcan Materials reported a quarterly earnings miss with earnings per share of $2.45, below the consensus estimate of $2.65, along with a declared dividend of $0.49 payable September 3rd.

Adage Capital Partners GP L.L.C. raised its holdings in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 62.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 533,498 shares of the construction company's stock after purchasing an additional 205,100 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.40% of Vulcan Materials worth $124,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC acquired a new stake in shares of Vulcan Materials during the 4th quarter worth about $497,000. Beacon Pointe Advisors LLC raised its holdings in Vulcan Materials by 6.3% in the 4th quarter. Beacon Pointe Advisors LLC now owns 1,110 shares of the construction company's stock valued at $286,000 after acquiring an additional 66 shares during the period. Lido Advisors LLC lifted its position in Vulcan Materials by 8.9% during the fourth quarter. Lido Advisors LLC now owns 1,439 shares of the construction company's stock worth $370,000 after acquiring an additional 117 shares during the last quarter. AXA S.A. lifted its position in Vulcan Materials by 248.1% during the fourth quarter. AXA S.A. now owns 7,881 shares of the construction company's stock worth $2,027,000 after acquiring an additional 5,617 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its holdings in shares of Vulcan Materials by 66.5% during the fourth quarter. Aptus Capital Advisors LLC now owns 7,096 shares of the construction company's stock worth $1,825,000 after acquiring an additional 2,834 shares during the period. 90.39% of the stock is owned by institutional investors.

Vulcan Materials Price Performance

Vulcan Materials stock traded up $2.31 during trading hours on Friday, reaching $294.64. 585,178 shares of the stock were exchanged, compared to its average volume of 780,035. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. Vulcan Materials Company has a twelve month low of $215.08 and a twelve month high of $298.31. The company has a market cap of $38.93 billion, a P/E ratio of 41.15, a price-to-earnings-growth ratio of 2.39 and a beta of 0.86. The stock has a 50 day moving average of $278.16 and a two-hundred day moving average of $260.46.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The business's revenue was up 4.4% on a year-over-year basis. During the same period last year, the company posted $2.35 EPS. Equities analysts expect that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada lowered their target price on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. UBS Group upgraded Vulcan Materials from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $280.00 to $318.00 in a research report on Friday, May 16th. Barclays lifted their target price on Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a research note on Tuesday, August 26th. Finally, Citigroup reaffirmed a "buy" rating and set a $321.00 price target (up from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Vulcan Materials currently has an average rating of "Buy" and a consensus target price of $308.36.

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.