Bank of New York Mellon Corp Acquires New Stake in Vulcan Materials Company $VMC

Bank of New York Mellon Corp bought a new position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 725,262 shares of the construction company's stock, valued at approximately $213,960,000. Bank of New York Mellon Corp owned approximately 0.56% of Vulcan Materials as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in Vulcan Materials in the fourth quarter valued at approximately $383,613,000. Egerton Capital UK LLP bought a new stake in Vulcan Materials during the fourth quarter valued at approximately $273,861,000. The Manufacturers Life Insurance Company grew its stake in Vulcan Materials by 908.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 755,682 shares of the construction company's stock worth $205,772,000 after buying an additional 680,761 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Vulcan Materials by 121.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 717,409 shares of the construction company's stock worth $204,619,000 after buying an additional 393,339 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new position in shares of Vulcan Materials in the 3rd quarter worth $98,911,000. 90.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Vulcan Materials news, SVP David P. Clement sold 2,212 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $292.29, for a total value of $646,545.48. Following the completion of the sale, the senior vice president owned 8,716 shares in the company, valued at approximately $2,547,599.64. This trade represents a 20.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.65% of the stock is owned by insiders.

Analyst Ratings Changes

VMC has been the topic of several research reports. Berenberg Bank set a $283.00 price objective on shares of Vulcan Materials and gave the company a "hold" rating in a research report on Tuesday, June 2nd. Citigroup reduced their target price on Vulcan Materials from $355.00 to $350.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Royal Bank Of Canada raised their price target on Vulcan Materials from $293.00 to $300.00 and gave the company a "sector perform" rating in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Vulcan Materials in a report on Wednesday, July 15th. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $327.93.

Vulcan Materials Trading Up 1.8%

NYSE:VMC opened at $275.48 on Friday. The company has a fifty day moving average of $289.19 and a 200 day moving average of $287.61. Vulcan Materials Company has a 52 week low of $252.35 and a 52 week high of $331.09. The company has a quick ratio of 1.20, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $35.70 billion, a P/E ratio of 32.52, a P/E/G ratio of 1.99 and a beta of 1.06.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.46 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The company's revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.42 EPS. On average, research analysts predict that Vulcan Materials Company will post 9.29 earnings per share 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. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, August 13th. Vulcan Materials's payout ratio is currently 24.56%.

Vulcan Materials 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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