Cibc World Market Inc. Makes New $2.84 Million Investment in Vulcan Materials Company $VMC

Key Points

• Cibc World Market Inc. acquired 9,625 Vulcan Materials shares worth approximately $2.84 million during the second quarter. Institutional investors collectively own 90.39% of the company.
• Analysts maintain a generally positive outlook, with Vulcan rated “Moderate Buy” and an average price target of $328.64, compared with a recent share price of $273.79.
• Vulcan exceeded quarterly expectations, reporting $2.59 in earnings per share and $2.16 billion in revenue, while announcing a quarterly dividend of $0.52 per share, equivalent to a 0.8% yield.

Cibc World Market Inc. acquired a new stake in Vulcan Materials Company (NYSE:VMC - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 9,625 shares of the construction company's stock, valued at approximately $2,839,000.

A number of other institutional investors have also made changes to their positions in the business. OMERS ADMINISTRATION Corp acquired a new position in Vulcan Materials during the second quarter worth $4,836,000. Osmosis Investment Management UK Ltd acquired a new stake in Vulcan Materials in the 2nd quarter valued at $4,937,000. Sanctuary Advisors LLC bought a new stake in Vulcan Materials during the 2nd quarter worth about $6,167,000. Atlas FRM LLC bought a new stake in Vulcan Materials during the 2nd quarter worth about $1,475,050,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Vulcan Materials during the 2nd quarter worth about $3,785,000. Institutional investors own 90.39% of the company's stock.

Analyst Ratings Changes

VMC has been the subject of several analyst reports. Wells Fargo & Company decreased their target price on shares of Vulcan Materials from $310.00 to $305.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 8th. Royal Bank Of Canada increased their price target on shares of Vulcan Materials from $293.00 to $300.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. UBS Group reduced their price target on Vulcan Materials from $350.00 to $349.00 and set a "buy" rating for the company in a research note on Wednesday, July 8th. DA Davidson began coverage on shares of Vulcan Materials in a research report on Tuesday. They issued a "buy" rating and a $330.00 target price for the company. Finally, Barclays upped their price target on shares of Vulcan Materials from $296.00 to $340.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $328.64.

Vulcan Materials Price Performance

Shares of NYSE:VMC opened at $273.79 on Thursday. The firm has a 50 day moving average of $287.90 and a 200-day moving average of $286.71. Vulcan Materials Company has a 12 month low of $252.35 and a 12 month high of $331.09. The company has a current ratio of 1.76, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $35.48 billion, a PE ratio of 32.32, a PEG ratio of 1.97 and a beta of 1.06.

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

Vulcan Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th will be paid a $0.52 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. Vulcan Materials's dividend payout ratio (DPR) is presently 24.56%.

Insider Activity at Vulcan Materials

In other news, SVP David P. Clement sold 2,212 shares of the business's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $292.29, for a total transaction of $646,545.48. Following the completion of the transaction, the senior vice president owned 8,716 shares of the company's stock, valued at approximately $2,547,599.64. The trade was a 20.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.

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