Cloverfields Capital Group LP Buys Shares of 18,681 Vulcan Materials Company $VMC

Key Points

• Cloverfields Capital Group LP disclosed a new position in Vulcan Materials, buying 18,681 shares worth about $5.1 million in the first quarter, making it the fund’s 20th-largest holding.
• Vulcan Materials reported better-than-expected quarterly results, with EPS of $1.35 and revenue of $1.76 billion, both above analyst forecasts.
• The company also announced a quarterly dividend of $0.52 per share, while Wall Street currently holds a Moderate Buy consensus on the stock with an average target price of $327.79.

Cloverfields Capital Group LP purchased a new position in Vulcan Materials Company (NYSE:VMC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 18,681 shares of the construction company's stock, valued at approximately $5,087,000. Vulcan Materials comprises approximately 1.6% of Cloverfields Capital Group LP's investment portfolio, making the stock its 20th largest position.

Other institutional investors have also made changes to their positions in the company. Atria Investments Inc raised its holdings in shares of Vulcan Materials by 54.1% during the 4th quarter. Atria Investments Inc now owns 12,334 shares of the construction company's stock valued at $3,518,000 after buying an additional 4,331 shares during the period. Y.D. More Investments Ltd purchased a new position in Vulcan Materials in the 4th quarter worth approximately $1,318,000. North Dakota State Investment Board purchased a new position in Vulcan Materials in the 4th quarter worth approximately $1,293,000. ABC Arbitrage SA acquired a new stake in Vulcan Materials in the fourth quarter valued at approximately $5,821,000. Finally, Westfield Capital Management Co. LP grew its position in Vulcan Materials by 7.4% in the fourth quarter. Westfield Capital Management Co. LP now owns 254,044 shares of the construction company's stock valued at $72,459,000 after acquiring an additional 17,488 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Price Performance

VMC opened at $275.01 on Friday. The company has a 50-day moving average of $286.53 and a 200-day moving average of $290.66. The company has a market capitalization of $35.69 billion, a P/E ratio of 32.70, a PEG ratio of 2.00 and a beta of 1.05. Vulcan Materials Company has a 1-year low of $252.35 and a 1-year high of $331.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.59.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.10 by $0.25. The business had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.64 billion. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.00 earnings per share. Equities analysts expect that Vulcan Materials Company will post 9.3 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th will be given 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 24.73%.

Insider Activity

In related news, SVP David P. Clement sold 2,212 shares of the firm'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 transaction, the senior vice president directly owned 8,716 shares in the company, valued at $2,547,599.64. This trade represents a 20.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on VMC shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Vulcan Materials in a research report on Tuesday, July 7th. Stephens raised their price target on shares of Vulcan Materials from $330.00 to $340.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Zacks Research raised shares of Vulcan Materials from a "strong sell" rating to a "hold" rating in a research note on Thursday, April 9th. Royal Bank Of Canada cut their price objective on shares of Vulcan Materials from $298.00 to $293.00 and set a "sector perform" rating on the stock in a report on Tuesday, June 30th. Finally, Stifel Nicolaus set a $333.00 target price on Vulcan Materials in a research note on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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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