Brasada Capital Management LP Purchases 1,580 Shares of Vulcan Materials Company $VMC

Key Points

• Brasada Capital Management LP increased its stake in Vulcan Materials Company by 7.4%, owning 22,858 shares valued at approximately $5.2 million as of the latest SEC filing.
• Analysts are optimistic about Vulcan Materials, with multiple firms raising their price targets, with Barclays and JPMorgan now targeting $305.00 and $330.00 respectively, while the stock holds a consensus average rating of “Buy”.
• Vulcan Materials announced a quarterly dividend of $0.49, reflecting a 0.7% dividend yield, and reported earnings of $2.45 per share, missing estimates but showing a 4.4% year-over-year revenue increase.

Brasada Capital Management LP lifted its holdings in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 7.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,858 shares of the construction company's stock after buying an additional 1,580 shares during the period. Brasada Capital Management LP's holdings in Vulcan Materials were worth $5,177,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in VMC. BNP Paribas Financial Markets raised its holdings in shares of Vulcan Materials by 239.8% in the fourth quarter. BNP Paribas Financial Markets now owns 739,003 shares of the construction company's stock worth $190,094,000 after acquiring an additional 521,508 shares during the last quarter. Alkeon Capital Management LLC raised its holdings in shares of Vulcan Materials by 54.1% in the 4th quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company's stock worth $329,769,000 after purchasing an additional 450,000 shares during the period. Principal Financial Group Inc. increased its holdings in Vulcan Materials by 7.4% in the 1st quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company's stock valued at $1,518,291,000 after purchasing an additional 445,691 shares in the last quarter. GAMMA Investing LLC increased its holdings in Vulcan Materials by 29,580.1% in the 1st quarter. GAMMA Investing LLC now owns 398,010 shares of the construction company's stock valued at $92,856,000 after purchasing an additional 396,669 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Vulcan Materials by 5.6% in the first quarter. JPMorgan Chase & Co. now owns 6,967,777 shares of the construction company's stock valued at $1,625,583,000 after purchasing an additional 370,434 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Vulcan Materials Trading Up 0.4%

NYSE VMC traded up $1.20 on Tuesday, hitting $292.36. 1,143,651 shares of the stock were exchanged, compared to its average volume of 753,226. Vulcan Materials Company has a 52-week low of $215.08 and a 52-week high of $298.31. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13. The company has a market capitalization of $38.63 billion, a price-to-earnings ratio of 40.83, a P/E/G ratio of 2.38 and a beta of 0.86. The company's 50-day moving average price is $276.25 and its two-hundred day moving average price is $259.90.

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

Vulcan Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 14th. Vulcan Materials's dividend payout ratio is presently 27.37%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on VMC shares. Barclays upped their target price on shares of Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Citigroup restated a "buy" rating and issued a $321.00 target price (up from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Morgan Stanley decreased their target price on shares of Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating for the company in a research note on Monday, July 28th. UBS Group upgraded shares of Vulcan Materials from a "neutral" rating to a "buy" rating and upped their target price for the company from $280.00 to $318.00 in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. upped their target price on Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Vulcan Materials currently has a consensus rating of "Buy" and a consensus price target of $308.36.

About Vulcan Materials

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.