Eventide Asset Management LLC Acquires Shares of 167,902 Vulcan Materials Company $VMC

Key Points

• Eventide Asset Management LLC has acquired a new position in Vulcan Materials, purchasing 167,902 shares valued at approximately $39.17 million, reflecting a 0.13% ownership stake in the company.
• Multiple institutional investors, including Golden State Wealth Management and Wealth Enhancement Advisory Services, have also increased their stakes in Vulcan Materials during the first quarter.
• Vulcan Materials reported earnings of $2.45 per share for the last quarter, missing analyst estimates, but showed a 4.4% revenue increase compared to the previous year.

Eventide Asset Management LLC purchased a new position in Vulcan Materials Company (NYSE:VMC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 167,902 shares of the construction company's stock, valued at approximately $39,171,000. Eventide Asset Management LLC owned approximately 0.13% of Vulcan Materials as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Banque Transatlantique SA bought a new stake in shares of Vulcan Materials in the 1st quarter worth about $142,000. AQR Capital Management LLC increased its holdings in shares of Vulcan Materials by 112.6% in the 1st quarter. AQR Capital Management LLC now owns 330,851 shares of the construction company's stock worth $75,285,000 after buying an additional 175,214 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Vulcan Materials by 6.5% in the 1st quarter. Advisors Asset Management Inc. now owns 36,081 shares of the construction company's stock worth $8,418,000 after buying an additional 2,199 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Vulcan Materials by 53.5% in the 1st quarter. Alyeska Investment Group L.P. now owns 340,978 shares of the construction company's stock worth $79,550,000 after buying an additional 118,834 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Vulcan Materials by 62.5% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 533,498 shares of the construction company's stock worth $124,465,000 after buying an additional 205,100 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a report on Monday, July 28th. 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 report on Friday, August 1st. 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 report on Tuesday, August 26th. UBS Group upgraded shares of Vulcan Materials from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $280.00 to $318.00 in a report on Friday, May 16th. Finally, Royal Bank Of Canada cut their price target on shares of Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a report 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 assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $308.36.

Vulcan Materials Trading Up 1.4%

Vulcan Materials stock traded up $4.21 during trading hours on Monday, hitting $299.02. The company had a trading volume of 776,220 shares, compared to its average volume of 1,035,281. The firm has a market cap of $39.51 billion, a P/E ratio of 41.76, a P/E/G ratio of 2.41 and a beta of 0.86. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.67. Vulcan Materials Company has a 1 year low of $215.08 and a 1 year high of $299.29. The company has a 50-day moving average price of $278.81 and a two-hundred day moving average price of $260.60.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.23 billion. Vulcan Materials had a net margin of 12.52% and a return on equity of 12.81%. Vulcan Materials's quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $2.35 earnings per share. On average, sell-side analysts anticipate that Vulcan Materials Company will post 8.69 earnings per share for the current year.

Vulcan Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th were given a $0.49 dividend. 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 payout ratio is 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.