Concurrent Investment Advisors LLC Purchases 3,082 Shares of Vulcan Materials Company $VMC

Key Points

• Concurrent Investment Advisors LLC increased its stake in Vulcan Materials by 58.4%, acquiring an additional 3,082 shares, bringing their total holdings to 8,362 shares worth $2,181,000.
• Several other institutional investors also raised their stakes, indicating strong interest in Vulcan Materials, which is now owned 90.39% by institutional investors.
• Vulcan Materials recently announced a quarterly dividend of $0.49 per share, with an annualized yield of 0.6%, to be paid on November 25th.

Concurrent Investment Advisors LLC boosted its position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 58.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,362 shares of the construction company's stock after purchasing an additional 3,082 shares during the period. Concurrent Investment Advisors LLC's holdings in Vulcan Materials were worth $2,181,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its holdings in Vulcan Materials by 21.0% during the 1st quarter. Golden State Wealth Management LLC now owns 951 shares of the construction company's stock worth $222,000 after purchasing an additional 165 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Vulcan Materials by 42.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,798 shares of the construction company's stock worth $3,686,000 after purchasing an additional 4,678 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Vulcan Materials by 24.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 921 shares of the construction company's stock worth $215,000 after purchasing an additional 180 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Vulcan Materials by 27.2% in the 1st quarter. GAMMA Investing LLC now owns 1,706 shares of the construction company's stock valued at $398,000 after acquiring an additional 365 shares in the last quarter. Finally, Atria Wealth Solutions Inc. grew its holdings in shares of Vulcan Materials by 7.8% in the 1st quarter. Atria Wealth Solutions Inc. now owns 3,870 shares of the construction company's stock valued at $903,000 after acquiring an additional 281 shares in the last quarter. Institutional investors own 90.39% of the company's stock.

Insider Activity

In other news, SVP David P. Clement sold 698 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $298.56, for a total transaction of $208,394.88. Following the completion of the sale, the senior vice president owned 2,832 shares in the company, valued at $845,521.92. The trade was a 19.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on VMC shares. Morgan Stanley decreased their price objective 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. Citigroup restated a "buy" rating and issued a $321.00 price objective (up previously from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Barclays raised their price objective on Vulcan Materials from $285.00 to $305.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wells Fargo & Company upgraded Vulcan Materials to a "hold" rating in a report on Wednesday, October 8th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Vulcan Materials in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $308.58.

Vulcan Materials Trading Up 2.1%

Vulcan Materials stock opened at $309.08 on Wednesday. Vulcan Materials Company has a 52 week low of $215.08 and a 52 week high of $310.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67. The stock has a market capitalization of $40.84 billion, a P/E ratio of 43.17, a PEG ratio of 2.47 and a beta of 0.92. The stock has a 50-day simple moving average of $295.23 and a 200 day simple moving average of $272.08.

Vulcan Materials (NYSE:VMC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.45 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 business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the business posted $2.35 EPS. The company's revenue for the quarter was up 4.4% on a year-over-year basis. Analysts expect that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Monday, November 10th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, November 10th. Vulcan Materials's payout ratio is currently 27.37%.

Vulcan Materials Company Profile

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.

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