Corient IA LLC Makes New $401,000 Investment in Vulcan Materials Company $VMC

Key Points

• Corient IA LLC has purchased 1,717 shares of Vulcan Materials Company, valued at approximately $401,000, indicating significant institutional interest in the stock.
• Vulcan Materials has received several upgrades from brokerages, with target prices being raised to as high as $321.00 per share, reflecting positive analyst sentiment.
• The company announced a quarterly dividend of $0.49 per share, which represents an annualized dividend yield of 0.7%.

Corient IA LLC bought a new position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,717 shares of the construction company's stock, valued at approximately $401,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. LeConte Wealth Management LLC purchased a new stake in shares of Vulcan Materials during the first quarter worth about $335,000. Raymond James Financial Inc. increased its position in shares of Vulcan Materials by 1.1% during the first quarter. Raymond James Financial Inc. now owns 293,949 shares of the construction company's stock worth $68,578,000 after acquiring an additional 3,313 shares during the last quarter. American Century Companies Inc. increased its position in shares of Vulcan Materials by 8.9% during the first quarter. American Century Companies Inc. now owns 215,285 shares of the construction company's stock worth $50,226,000 after acquiring an additional 17,571 shares during the last quarter. Aberdeen Group plc increased its position in shares of Vulcan Materials by 143.9% during the first quarter. Aberdeen Group plc now owns 106,540 shares of the construction company's stock worth $24,611,000 after acquiring an additional 62,850 shares during the last quarter. Finally, Horizon Investments LLC increased its position in shares of Vulcan Materials by 8.0% during the first quarter. Horizon Investments LLC now owns 9,405 shares of the construction company's stock worth $2,194,000 after acquiring an additional 693 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VMC has been the topic of a number of analyst reports. Morgan Stanley dropped their target price on Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a research report on Monday, July 28th. Barclays lifted their target price on Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Citigroup reissued a "buy" rating and issued a $321.00 price objective (up from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Raymond James Financial lowered their price objective on Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Finally, Stifel Nicolaus boosted their price objective on Vulcan Materials from $287.00 to $309.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $304.27.

Vulcan Materials Stock Performance

VMC stock traded up $4.0170 on Friday, reaching $292.2970. The company's stock had a trading volume of 529,856 shares, compared to its average volume of 1,045,533. Vulcan Materials Company has a 52 week low of $215.08 and a 52 week high of $298.31. The company has a market capitalization of $38.62 billion, a P/E ratio of 40.82, a price-to-earnings-growth ratio of 2.36 and a beta of 0.83. The firm has a fifty day moving average of $272.36 and a two-hundred day moving average of $259.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued 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 business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period last year, the company earned $2.35 earnings per share. The business's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, analysts predict that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Dividend Announcement

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

Vulcan Materials 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.