Confluence Investment Management LLC Makes New $700,000 Investment in Vulcan Materials Company $VMC

Key Points

• Confluence Investment Management LLC has made a new investment in Vulcan Materials Company, purchasing 2,682 shares valued at approximately $700,000 in the second quarter.
• In its latest earnings report, Vulcan Materials missed analysts' estimates with an EPS of $2.45 compared to the anticipated $2.65, and reported a revenue of $2.10 billion, below the expected $2.23 billion.
• Vulcan Materials recently announced a quarterly dividend of $0.49 per share, which translates to an annualized yield of 0.7% and a payout ratio of 27.37%.

Confluence Investment Management LLC purchased a new position in Vulcan Materials Company (NYSE:VMC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,682 shares of the construction company's stock, valued at approximately $700,000.

Several other institutional investors have also modified their holdings of VMC. Opal Wealth Advisors LLC acquired a new position in shares of Vulcan Materials in the first quarter worth $27,000. 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 worth $43,000 after acquiring an additional 39 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Vulcan Materials in the first quarter worth $45,000. Fourth Dimension Wealth LLC acquired a new position in shares of Vulcan Materials in the fourth quarter worth $46,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Vulcan Materials in the first quarter worth $54,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Vulcan Materials Price Performance

Shares of VMC opened at $294.84 on Friday. Vulcan Materials Company has a 1-year low of $215.08 and a 1-year high of $302.21. The stock has a market cap of $38.96 billion, a PE ratio of 41.18, a price-to-earnings-growth ratio of 2.46 and a beta of 0.86. 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 moving average price of $281.99 and a 200 day moving average price of $262.11.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. The company had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.23 billion. During the same period last year, the firm earned $2.35 earnings per share. Vulcan Materials's revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Vulcan Materials Company will post 8.69 EPS for the current year.

Vulcan Materials Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VMC. JPMorgan Chase & Co. boosted their target price on shares of Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Barclays boosted their target price on shares of Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley lowered their target price on shares of Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating for the company in a research note on Monday, July 28th. Citigroup reiterated a "buy" rating and set a $321.00 target price (up previously from $305.00) on shares of Vulcan Materials in a research note on Monday, August 4th. Finally, Royal Bank Of Canada lowered their target price on shares of 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. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Vulcan Materials presently has a consensus rating of "Buy" and an average price target of $308.36.

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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