Fenimore Asset Management Inc Acquires 2,039 Shares of Vulcan Materials Company $VMC

Key Points

• Fenimore Asset Management Inc increased its position in Vulcan Materials Company by acquiring an additional 2,039 shares, raising its total holdings to 665,852 shares, which constitute 3.5% of its portfolio.
• Vulcan Materials reported earnings per share of $2.45 for the last quarter, missing analysts' expectations, and had a net margin of 12.52% on revenue of $2.10 billion.
• The company declared a quarterly dividend of $0.49 per share, with a current annualized dividend yield of 0.6% and a payout ratio of 27.37%.

Fenimore Asset Management Inc raised its holdings in Vulcan Materials Company (NYSE:VMC - Free Report) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 665,852 shares of the construction company's stock after acquiring an additional 2,039 shares during the quarter. Vulcan Materials comprises 3.5% of Fenimore Asset Management Inc's portfolio, making the stock its 8th largest position. Fenimore Asset Management Inc owned approximately 0.50% of Vulcan Materials worth $173,668,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in VMC. DAVENPORT & Co LLC grew its stake in shares of Vulcan Materials by 5.7% during the second quarter. DAVENPORT & Co LLC now owns 11,317 shares of the construction company's stock worth $2,952,000 after purchasing an additional 613 shares during the period. Marks Group Wealth Management Inc grew its position in shares of Vulcan Materials by 11.4% during the 2nd quarter. Marks Group Wealth Management Inc now owns 2,455 shares of the construction company's stock worth $640,000 after buying an additional 252 shares during the period. QRG Capital Management Inc. increased its stake in shares of Vulcan Materials by 21.3% in the 2nd quarter. QRG Capital Management Inc. now owns 16,477 shares of the construction company's stock valued at $4,297,000 after acquiring an additional 2,891 shares during the last quarter. Ameritas Advisory Services LLC raised its position in shares of Vulcan Materials by 19.5% in the 2nd quarter. Ameritas Advisory Services LLC now owns 1,279 shares of the construction company's stock valued at $334,000 after acquiring an additional 209 shares during the period. Finally, Copeland Capital Management LLC boosted its stake in Vulcan Materials by 15.5% during the 2nd quarter. Copeland Capital Management LLC now owns 3,780 shares of the construction company's stock worth $986,000 after acquiring an additional 506 shares during the last quarter. Institutional investors own 90.39% of the company's stock.

Insider Buying and Selling

In related news, SVP David P. Clement sold 698 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $298.56, for a total transaction of $208,394.88. Following the completion of the transaction, the senior vice president owned 2,832 shares in the company, valued at approximately $845,521.92. This represents a 19.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company's stock.

Vulcan Materials Stock Performance

VMC opened at $305.13 on Monday. The company has a market capitalization of $40.31 billion, a price-to-earnings ratio of 42.62, a P/E/G ratio of 2.49 and a beta of 0.92. The business's 50-day moving average price is $291.36 and its two-hundred day moving average price is $269.07. Vulcan Materials Company has a 1 year low of $215.08 and a 1 year high of $309.17. 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 posted 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). The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.23 billion. Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The firm's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.35 earnings per share. Equities analysts expect 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 was paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 14th. Vulcan Materials's payout ratio is currently 27.37%.

Analyst Ratings Changes

VMC has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Royal Bank Of Canada decreased their price target on shares of Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating for the company in a report on Friday, August 1st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Vulcan Materials in a research note on Saturday, September 27th. Citigroup reiterated a "buy" rating and set a $321.00 target price (up from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Finally, Barclays increased their price target on Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Vulcan Materials has an average rating of "Buy" and an average target price of $308.36.

Vulcan Materials Company 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.

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