CX Institutional Buys 11,686 Shares of Vulcan Materials Company $VMC

Key Points

• CX Institutional increased its Vulcan Materials stake by 268.4% in the third quarter, acquiring 11,686 shares and bringing its holdings to 16,040 shares valued at approximately $3.9 million.
• Institutional investors own 90.39% of Vulcan Materials, while insiders recently sold shares, including a director’s $3.87 million transaction and a senior vice president’s $570,200 sale.
• Vulcan Materials exceeded quarterly earnings expectations with $2.59 in EPS and $2.16 billion in revenue, while analysts maintain a consensus “Hold” rating and a $321.43 price target. The company also pays a quarterly dividend of $0.52, yielding about 0.9%.

CX Institutional raised its position in Vulcan Materials Company (NYSE:VMC - Free Report) by 268.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 16,040 shares of the construction company's stock after acquiring an additional 11,686 shares during the period. CX Institutional's holdings in Vulcan Materials were worth $3,924,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Vulcan Materials in the second quarter worth approximately $2,868,444,000. Bank of America Corp DE bought a new stake in Vulcan Materials during the second quarter worth $688,580,000. The Manufacturers Life Insurance Company purchased a new stake in Vulcan Materials in the 2nd quarter valued at $451,119,000. Dimensional Fund Advisors LP lifted its stake in Vulcan Materials by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,346,422 shares of the construction company's stock valued at $366,592,000 after acquiring an additional 24,187 shares in the last quarter. Finally, Stockbridge Partners LLC bought a new position in Vulcan Materials during the 2nd quarter valued at $314,470,000. 90.39% of the stock is owned by institutional investors.

Insider Activity

In related news, Director J. Hill sold 14,000 shares of the business's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $276.17, for a total transaction of $3,866,380.00. Following the transaction, the director owned 58,209 shares in the company, valued at $16,075,579.53. The trade was a 19.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP David P. Clement sold 2,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $285.10, for a total value of $570,200.00. Following the completion of the sale, the senior vice president owned 6,716 shares of the company's stock, valued at approximately $1,914,731.60. This trade represents a 22.95% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.65% of the company's stock.

Vulcan Materials Price Performance

Shares of NYSE:VMC opened at $242.97 on Friday. The company's fifty day moving average price is $264.92 and its 200-day moving average price is $277.51. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.20. The firm has a market capitalization of $31.48 billion, a price-to-earnings ratio of 28.69, a PEG ratio of 2.35 and a beta of 1.05. Vulcan Materials Company has a one year low of $237.03 and a one year high of $331.09.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its earnings results on Wednesday, July 29th. The construction company reported $2.59 earnings per share for the quarter, topping analysts' consensus estimates of $2.46 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Vulcan Materials had a return on equity of 13.05% and a net margin of 13.75%.Vulcan Materials's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.42 EPS. On average, equities research analysts anticipate that Vulcan Materials Company will post 9.18 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th were given a $0.52 dividend. The ex-dividend date was Thursday, August 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. Vulcan Materials's payout ratio is presently 24.56%.

Analysts Set New Price Targets

Several research firms recently weighed in on VMC. Royal Bank Of Canada boosted their price target on shares of Vulcan Materials from $293.00 to $300.00 and gave the stock a "sector perform" rating in a report on Thursday, July 30th. DA Davidson reaffirmed a "buy" rating and set a $330.00 target price on shares of Vulcan Materials in a research report on Monday, September 21st. Wall Street Zen cut Vulcan Materials from a "hold" rating to a "sell" rating in a research note on Saturday, September 12th. Citigroup cut their price target on shares of Vulcan Materials from $350.00 to $300.00 and set a "buy" rating on the stock in a report on Friday. Finally, Raymond James Financial reissued an "outperform" rating on shares of Vulcan Materials in a research report on Wednesday, July 15th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $321.43.

About Vulcan Materials

Vulcan Materials Company NYSE: VMC is a major producer and supplier of construction materials in the United States. The company primarily produces and distributes construction aggregates, including crushed stone, sand and gravel, which are used in infrastructure, commercial, residential and industrial projects.

In addition to aggregates, Vulcan produces asphalt mix and ready-mixed concrete and provides related construction-material services. Its products support highways, bridges, airports, buildings and other essential infrastructure.

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