Douglas Lane & Associates LLC Raises Holdings in Vulcan Materials Company $VMC

Key Points

• Douglas Lane & Associates LLC has increased its stake in Vulcan Materials Company by 4.2%, owning 155,363 shares worth approximately $40.52 million as of the latest SEC filing.
• Several hedge funds, including Vanguard Group Inc. and JPMorgan Chase & Co., have also raised their positions in Vulcan with notable increases of 2.1% and 5.6% respectively during the first quarter.
• Vulcan Materials reported earnings per share of $2.45 for the latest quarter, missing estimates, but achieved a year-over-year revenue increase of 4.4%.

Douglas Lane & Associates LLC grew its position in Vulcan Materials Company (NYSE:VMC - Free Report) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 155,363 shares of the construction company's stock after buying an additional 6,226 shares during the quarter. Douglas Lane & Associates LLC owned 0.12% of Vulcan Materials worth $40,522,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Vulcan Materials by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 16,699,662 shares of the construction company's stock worth $3,896,031,000 after buying an additional 347,155 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Vulcan Materials by 5.6% in the 1st quarter. JPMorgan Chase & Co. now owns 6,967,777 shares of the construction company's stock worth $1,625,583,000 after buying an additional 370,434 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Vulcan Materials by 7.4% in the 1st quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company's stock worth $1,518,291,000 after buying an additional 445,691 shares during the period. Stockbridge Partners LLC lifted its holdings in shares of Vulcan Materials by 11.3% in the 4th quarter. Stockbridge Partners LLC now owns 1,746,482 shares of the construction company's stock worth $449,248,000 after buying an additional 177,918 shares during the period. Finally, Alkeon Capital Management LLC lifted its holdings in shares of Vulcan Materials by 4.4% in the 1st quarter. Alkeon Capital Management LLC now owns 1,338,346 shares of the construction company's stock worth $312,236,000 after buying an additional 56,345 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VMC has been the subject of several research reports. Citigroup reiterated a "buy" rating and issued a $321.00 target price (up from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Royal Bank Of Canada decreased their price objective on 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. JPMorgan Chase & Co. upped their price objective on Vulcan Materials from $285.00 to $330.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. 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 research note on Monday, July 28th. Finally, Barclays upped their price objective on Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Two investment 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. According to data from MarketBeat.com, Vulcan Materials has an average rating of "Buy" and an average price target of $308.36.

Vulcan Materials Trading Down 2.3%

Shares of NYSE:VMC opened at $294.84 on Friday. The business's 50-day moving average is $281.99 and its 200 day moving average is $262.11. Vulcan Materials Company has a 1 year low of $215.08 and a 1 year high of $302.21. The firm has a market capitalization of $38.96 billion, a P/E ratio of 41.18, a P/E/G 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.

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

Vulcan Materials Announces Dividend

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

About Vulcan Materials

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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