California Public Employees Retirement System Buys 4,449 Shares of Vulcan Materials Company $VMC

Key Points

• CalPERS increased its stake in Vulcan Materials by 1.8% in the first quarter, buying 4,449 additional shares and bringing its total holdings to 254,491 shares worth about $69.3 million.
• Vulcan Materials reported solid quarterly results, with EPS of $1.35 and revenue of $1.76 billion, both ahead of estimates; revenue also rose 7.4% year over year.
• The company announced a quarterly dividend of $0.52 per share, payable September 2, implying an annualized yield of about 0.7% at the time of the article.

California Public Employees Retirement System grew its stake in Vulcan Materials Company (NYSE:VMC - Free Report) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 254,491 shares of the construction company's stock after acquiring an additional 4,449 shares during the quarter. California Public Employees Retirement System owned about 0.20% of Vulcan Materials worth $69,298,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. NBT Bank N A NY bought a new stake in Vulcan Materials during the fourth quarter valued at about $26,000. Birchwood Financial Partners Inc. bought a new position in Vulcan Materials in the fourth quarter worth about $29,000. Godsey & Gibb Inc. bought a new position in Vulcan Materials in the fourth quarter worth about $30,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Vulcan Materials during the third quarter valued at about $30,000. Finally, WPG Advisers LLC lifted its position in shares of Vulcan Materials by 56.4% during the fourth quarter. WPG Advisers LLC now owns 122 shares of the construction company's stock valued at $35,000 after buying an additional 44 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Insider Transactions at Vulcan Materials

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

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $288.64 on Monday. Vulcan Materials Company has a fifty-two week low of $252.35 and a fifty-two week high of $331.09. The company has a market cap of $37.45 billion, a PE ratio of 34.32, a P/E/G ratio of 2.09 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.59. The business has a 50-day simple moving average of $286.57 and a two-hundred day simple moving average of $290.96.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.25. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.64 billion. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 earnings per share. As a group, equities analysts expect that Vulcan Materials Company will post 9.23 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 13th. Vulcan Materials's payout ratio is currently 24.73%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on VMC shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Vulcan Materials in a research report on Tuesday, July 7th. UBS Group decreased their target price on shares of Vulcan Materials from $350.00 to $349.00 and set a "buy" rating for the company in a research report on Wednesday, July 8th. Royal Bank Of Canada lowered their target price on shares of Vulcan Materials from $298.00 to $293.00 and set a "sector perform" rating for the company in a research note on Tuesday, June 30th. Stephens lifted their price target on shares of Vulcan Materials from $330.00 to $340.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, Barclays upped their price target on Vulcan Materials from $296.00 to $340.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $327.79.

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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