Bank of Nova Scotia Increases Holdings in Vulcan Materials Company (NYSE:VMC)

Bank of Nova Scotia raised its stake in Vulcan Materials Company (NYSE:VMC - Free Report) by 220.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,760 shares of the construction company's stock after acquiring an additional 39,762 shares during the period. Bank of Nova Scotia's holdings in Vulcan Materials were worth $13,475,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. R Squared Ltd boosted its stake in Vulcan Materials by 106.4% in the 1st quarter. R Squared Ltd now owns 970 shares of the construction company's stock worth $226,000 after purchasing an additional 500 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Vulcan Materials by 18.0% in the first quarter. PNC Financial Services Group Inc. now owns 56,270 shares of the construction company's stock worth $13,128,000 after buying an additional 8,567 shares during the last quarter. Baker Avenue Asset Management LP lifted its stake in shares of Vulcan Materials by 13.5% in the first quarter. Baker Avenue Asset Management LP now owns 36,772 shares of the construction company's stock worth $8,579,000 after buying an additional 4,370 shares in the last quarter. Nicolet Advisory Services LLC lifted its stake in shares of Vulcan Materials by 7.6% in the first quarter. Nicolet Advisory Services LLC now owns 1,428 shares of the construction company's stock worth $336,000 after buying an additional 101 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC grew its holdings in shares of Vulcan Materials by 11.2% during the first quarter. Sound View Wealth Advisors Group LLC now owns 1,300 shares of the construction company's stock valued at $303,000 after buying an additional 131 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP David P. Clement sold 1,500 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $270.00, for a total value of $405,000.00. Following the transaction, the senior vice president owned 2,832 shares of the company's stock, valued at $764,640. This trade represents a 34.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

VMC has been the subject of a number of recent analyst reports. Raymond James Financial decreased their price objective on shares of Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Royal Bank Of Canada decreased their price target on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a research note on Friday. Barclays increased their price objective on Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research report on Friday. UBS Group upgraded Vulcan Materials from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $280.00 to $318.00 in a report on Friday, May 16th. Finally, Wolfe Research raised Vulcan Materials from a "peer perform" rating to an "outperform" rating in a research report on Thursday, April 10th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $302.45.

Vulcan Materials Stock Performance

VMC opened at $274.56 on Monday. The company's 50 day moving average is $265.36 and its 200 day moving average is $257.47. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The company has a market cap of $36.27 billion, a price-to-earnings ratio of 38.35, a PEG ratio of 2.43 and a beta of 0.83. Vulcan Materials Company has a 12-month low of $215.08 and a 12-month high of $298.31.

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 the consensus estimate of $2.65 by ($0.20). The business had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%. The company's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.35 EPS. On average, equities research analysts predict that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th will be given 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 is presently 27.80%.

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.

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