Comerica Bank Purchases 5,148 Shares of Vulcan Materials Company $VMC

Key Points

• Comerica Bank increased its stake in Vulcan Materials Company by 12.3% in the first quarter, now holding 46,886 shares valued at approximately $10.94 million.
• Vulcan Materials reported a quarterly earnings miss with $2.45 EPS against a consensus estimate of $2.65, despite a 4.4% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.49 per share, representing a yield of 0.7%, set to be paid on September 3rd.

Comerica Bank raised its position in Vulcan Materials Company (NYSE:VMC - Free Report) by 12.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,886 shares of the construction company's stock after acquiring an additional 5,148 shares during the quarter. Comerica Bank's holdings in Vulcan Materials were worth $10,938,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of VMC. BNP Paribas Financial Markets lifted its holdings in Vulcan Materials by 239.8% in the fourth quarter. BNP Paribas Financial Markets now owns 739,003 shares of the construction company's stock valued at $190,094,000 after acquiring an additional 521,508 shares during the period. Alkeon Capital Management LLC lifted its holdings in Vulcan Materials by 54.1% in the fourth quarter. Alkeon Capital Management LLC now owns 1,282,001 shares of the construction company's stock valued at $329,769,000 after acquiring an additional 450,000 shares during the period. Principal Financial Group Inc. lifted its holdings in Vulcan Materials by 7.4% in the first quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company's stock valued at $1,518,291,000 after acquiring an additional 445,691 shares during the period. GAMMA Investing LLC lifted its holdings in Vulcan Materials by 29,580.1% in the first quarter. GAMMA Investing LLC now owns 398,010 shares of the construction company's stock valued at $92,856,000 after acquiring an additional 396,669 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in 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 acquiring an additional 370,434 shares during the period. Institutional investors own 90.39% of the company's stock.

Vulcan Materials Price Performance

NYSE VMC traded down $0.07 during trading hours on Friday, reaching $291.09. The company's stock had a trading volume of 609,873 shares, compared to its average volume of 862,417. The firm's 50-day moving average price is $275.65 and its 200-day moving average price is $259.85. The company has a quick ratio of 1.13, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. Vulcan Materials Company has a 1 year low of $215.08 and a 1 year high of $298.31. The company has a market capitalization of $38.46 billion, a price-to-earnings ratio of 40.66, a PEG ratio of 2.38 and a beta of 0.83.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the previous year, the firm earned $2.35 EPS. The business's revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts predict that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on VMC shares. Royal Bank Of Canada lowered their price objective on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. Barclays lifted their price objective on Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a research report on Tuesday. UBS Group raised Vulcan Materials from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $280.00 to $318.00 in a research report on Friday, May 16th. Finally, Citigroup reaffirmed a "buy" rating and set a $321.00 price objective (up from $305.00) on shares of Vulcan Materials in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Vulcan Materials presently has a consensus rating of "Buy" and a consensus target price 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.