Charles Schwab Investment Management Inc. Buys 36,693 Shares of Vulcan Materials Company (NYSE:VMC)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Vulcan Materials Company by 4.3%, now owning 899,672 shares worth approximately $209.9 million.
• Vulcan Materials reported earnings of $2.45 per share for the last quarter, missing estimates of $2.65, with a revenue of $2.10 billion against expectations of $2.23 billion.
• The company announced a quarterly dividend of $0.49 per share, resulting in an annualized dividend yield of 0.7%.

Charles Schwab Investment Management Inc. boosted its holdings in Vulcan Materials Company (NYSE:VMC - Free Report) by 4.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 899,672 shares of the construction company's stock after purchasing an additional 36,693 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.68% of Vulcan Materials worth $209,893,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in Vulcan Materials in the first quarter valued at $27,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Vulcan Materials in the fourth quarter valued at about $35,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Vulcan Materials in the fourth quarter valued at about $46,000. Manchester Capital Management LLC grew its stake in shares of Vulcan Materials by 26.9% in the first quarter. Manchester Capital Management LLC now owns 184 shares of the construction company's stock valued at $43,000 after buying an additional 39 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in shares of Vulcan Materials in the first quarter valued at about $45,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP David P. Clement sold 1,500 shares of Vulcan Materials 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 directly owned 2,832 shares in the company, valued at approximately $764,640. The trade was a 34.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada lowered their target price on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. UBS Group upgraded Vulcan Materials from a "neutral" rating to a "buy" rating and increased their target price for the company from $280.00 to $318.00 in a research note on Friday, May 16th. Morgan Stanley reduced their price target on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating for the company in a report on Monday, July 28th. Stephens set a $315.00 price target on Vulcan Materials and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, Citigroup reaffirmed a "buy" rating and set a $321.00 target price (up previously from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $304.27.

Vulcan Materials Price Performance

Shares of VMC traded up $6.96 during trading hours on Tuesday, hitting $292.20. 1,070,324 shares of the company were exchanged, compared to its average volume of 1,047,517. The company has a market capitalization of $38.61 billion, a PE ratio of 40.81, a PEG ratio of 2.33 and a beta of 0.83. 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 firm has a fifty day simple moving average of $267.50 and a 200-day simple moving average of $257.88. Vulcan Materials Company has a one year low of $215.08 and a one year high of $298.31.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its quarterly earnings data 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 company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%. The business's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.35 earnings per share. As a group, sell-side analysts predict that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Announces Dividend

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

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.