Bank of America Corp DE Acquires New Holdings in Vulcan Materials Company $VMC

Bank of America Corp DE bought a new position in Vulcan Materials Company (NYSE:VMC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,334,089 shares of the construction company's stock, valued at approximately $688,580,000. Bank of America Corp DE owned about 1.80% of Vulcan Materials at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Vulcan Materials during the 2nd quarter valued at $2,868,444,000. Geode Capital Management LLC increased its stake in Vulcan Materials by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 3,576,172 shares of the construction company's stock valued at $1,016,168,000 after buying an additional 32,012 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Vulcan Materials during the 2nd quarter valued at about $451,119,000. Dimensional Fund Advisors LP raised its position in shares of Vulcan Materials by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,346,422 shares of the construction company's stock worth $366,592,000 after buying an additional 24,187 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Vulcan Materials during the 4th quarter worth about $383,613,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

VMC has been the subject of several recent analyst reports. Royal Bank Of Canada increased 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. Weiss Ratings reissued a "buy (b-)" rating on shares of Vulcan Materials in a report on Tuesday, July 7th. Citigroup downgraded Vulcan Materials from a "buy" rating to a "cautious" rating in a research report on Wednesday, September 9th. Raymond James Financial restated an "outperform" rating on shares of Vulcan Materials in a research report on Wednesday, July 15th. Finally, Wall Street Zen lowered Vulcan Materials from a "hold" rating to a "sell" rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $325.00.

Insider Buying and Selling at Vulcan Materials

In other news, Director J. Hill sold 14,000 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $276.17, for a total transaction of $3,866,380.00. Following the completion of the sale, the director owned 58,209 shares in the company, valued at approximately $16,075,579.53. This represents a 19.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David Clement sold 2,000 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $285.10, for a total value of $570,200.00. Following the sale, the senior vice president directly owned 6,716 shares of the company's stock, valued at approximately $1,914,731.60. This represents a 22.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.65% of the stock is currently owned by corporate insiders.

Vulcan Materials Stock Performance

NYSE:VMC opened at $249.30 on Wednesday. The company has a 50-day moving average of $275.73 and a 200-day moving average of $281.21. The firm has a market cap of $32.30 billion, a price-to-earnings ratio of 29.43, a price-to-earnings-growth ratio of 2.25 and a beta of 1.05. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47. Vulcan Materials Company has a twelve month low of $246.20 and a twelve month high of $331.09.

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

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. Vulcan Materials's dividend payout ratio is currently 24.56%.

About Vulcan Materials

Vulcan Materials Company NYSE: VMC is a major U.S. producer and supplier of construction materials. The company's primary business is aggregates, including crushed stone, sand and gravel, which are used in roads, bridges, buildings and other infrastructure projects.

Vulcan also produces and distributes asphalt and ready-mixed concrete, as well as calcium products used in construction, industrial and other applications. Its products are sold to public-sector customers, contractors, commercial developers and other businesses involved in construction and infrastructure development.

Founded in 1909 and headquartered in Birmingham, Alabama, Vulcan Materials has expanded through organic growth and acquisitions to operate production facilities, distribution terminals and related assets across much of the United States.

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