Corient Private Wealth LP Invests $10.40 Million in Vulcan Materials Company $VMC

Corient Private Wealth LP bought a new stake in Vulcan Materials Company (NYSE:VMC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 35,240 shares of the construction company's stock, valued at approximately $10,396,000.

A number of other institutional investors and hedge funds also recently modified their holdings of VMC. Chesapeake Capital Corp IL boosted its position in Vulcan Materials by 0.9% in the fourth quarter. Chesapeake Capital Corp IL now owns 3,712 shares of the construction company's stock worth $1,059,000 after purchasing an additional 33 shares during the last quarter. Composition Wealth LLC increased its position in shares of Vulcan Materials by 3.5% during the 4th quarter. Composition Wealth LLC now owns 1,014 shares of the construction company's stock valued at $289,000 after purchasing an additional 34 shares during the last quarter. Truist Financial Corp raised its stake in shares of Vulcan Materials by 0.3% during the 4th quarter. Truist Financial Corp now owns 13,331 shares of the construction company's stock worth $3,802,000 after purchasing an additional 38 shares during the period. United Capital Financial Advisors LLC raised its stake in shares of Vulcan Materials by 1.2% during the 3rd quarter. United Capital Financial Advisors LLC now owns 3,095 shares of the construction company's stock worth $952,000 after purchasing an additional 38 shares during the period. Finally, 4WEALTH Advisors Inc. raised its stake in shares of Vulcan Materials by 3.2% during the 1st quarter. 4WEALTH Advisors Inc. now owns 1,261 shares of the construction company's stock worth $337,000 after purchasing an additional 39 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP David P. Clement sold 2,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $285.10, for a total value of $570,200.00. Following the sale, the senior vice president directly owned 6,716 shares of the company's stock, valued at approximately $1,914,731.60. This represents a 22.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.65% of the company's stock.

Vulcan Materials Price Performance

Shares of NYSE VMC opened at $275.11 on Friday. The stock has a market cap of $35.65 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. Vulcan Materials Company has a fifty-two week low of $252.35 and a fifty-two week high of $331.09. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.20 and a current ratio of 1.76. The stock has a fifty day moving average of $286.74 and a 200-day moving average of $286.28.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.46 by $0.13. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the company posted $2.42 EPS. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that Vulcan Materials Company will post 9.29 earnings per share for the current year.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th will be given a dividend of $0.52 per share. 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 is currently 24.56%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on VMC shares. UBS Group reduced their price target on shares of Vulcan Materials from $350.00 to $349.00 and set a "buy" rating for the company in a research report on Wednesday, July 8th. Berenberg Bank set a $283.00 target price on shares of Vulcan Materials and gave the company a "hold" rating in a research note on Tuesday, June 2nd. Wells Fargo & Company reduced their target price on shares of Vulcan Materials from $310.00 to $305.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 8th. Citigroup lowered their price target on shares of Vulcan Materials from $355.00 to $350.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Vulcan Materials in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $328.64.

Vulcan Materials Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source