BlackRock Inc. Acquires New Stake in Vulcan Materials Company $VMC

BlackRock Inc. bought a new position in Vulcan Materials Company (NYSE:VMC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,723,208 shares of the construction company's stock, valued at approximately $2,868,444,000. BlackRock Inc. owned approximately 7.50% of Vulcan Materials at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of VMC. Brighton Jones LLC bought a new stake in shares of Vulcan Materials in the fourth quarter worth approximately $497,000. NewEdge Advisors LLC raised its holdings in shares of Vulcan Materials by 3.9% during the first quarter. NewEdge Advisors LLC now owns 4,359 shares of the construction company's stock valued at $1,017,000 after purchasing an additional 163 shares during the last quarter. Empowered Funds LLC lifted its position in Vulcan Materials by 6.3% during the first quarter. Empowered Funds LLC now owns 3,195 shares of the construction company's stock valued at $745,000 after purchasing an additional 190 shares during the period. Focus Partners Wealth lifted its position in Vulcan Materials by 28.5% during the first quarter. Focus Partners Wealth now owns 3,321 shares of the construction company's stock valued at $775,000 after purchasing an additional 736 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in Vulcan Materials by 31.5% in the first quarter. Geneos Wealth Management Inc. now owns 334 shares of the construction company's stock worth $78,000 after purchasing an additional 80 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Trading Down 2.2%

Vulcan Materials stock opened at $272.14 on Wednesday. The stock has a market cap of $35.26 billion, a P/E ratio of 32.13, a PEG ratio of 2.03 and a beta of 1.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20. Vulcan Materials Company has a 1 year low of $252.35 and a 1 year high of $331.09. The firm's 50 day moving average price is $289.55 and its 200-day moving average price is $288.07.

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

Vulcan Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 13th. Vulcan Materials's payout ratio is currently 24.56%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VMC. Barclays upped their price objective on Vulcan Materials from $296.00 to $340.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Berenberg Bank set a $283.00 price target on Vulcan Materials and gave the company a "hold" rating in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Vulcan Materials in a research report on Tuesday, July 7th. Wells Fargo & Company reduced their price target on shares of Vulcan Materials from $310.00 to $305.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 8th. Finally, Stifel Nicolaus set a $333.00 price objective on shares of Vulcan Materials in a research note on Thursday, April 30th. Eight research 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 company presently has a consensus rating of "Moderate Buy" and an average price target of $327.93.

Insider Activity

In related news, SVP David P. Clement sold 2,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president owned 6,716 shares of the company's stock, valued at $1,914,731.60. This represents a 22.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.

Want to see what other hedge funds are holding VMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vulcan Materials Company (NYSE:VMC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source